Patriarch Partners Names Charles Sweet NetVersant’s Interim CEO

Patriarch Partners Management Group LLC named Charles Sweet, a managing director at the firm, as interim CEO of NetVersant Solutions. Patriarch Partners is a majority shareholder of the provider of technology solutions. Sweets replaced Rob Macchi.

PRESS RELEASE

Effective immediately, Charles Sweet, Managing Director for Patriarch Partners Management Group, LLC whose investment funds are the majority shareholders of NetVersant Solutions, a leading national provider of technology solutions, with a complete range of voice, video and data communications services has been named Interim CEO succeeding departing CEO, Rob Macchi.

“I look forward to leading NetVersant with great passion and perseverance as we continue to provide our loyal customers with state of the art technology solutions”
Mr. Sweet will oversee all operations of the company as interim CEO until such time as a permanent replacement is chosen. “I look forward to leading NetVersant with great passion and perseverance as we continue to provide our loyal customers with state of the art technology solutions,” says Sweet.

“Charles Sweet has been at the helm of many Patriarch businesses over the last decade bringing more than 25 years of multi-industry executive experience in both public and private companies so the company is in great hands. Through his position as a Patriarch Platform Leader, Charles has become intimately familiar with all aspects of the company’s operations, and I expect the transition will be seamless.” says Lynn Tilton, CEO and Founder of Patriarch Partners, LLC. Mr. Sweet has extensive experience in the technology industry and has held several relevant executive positions including Chairman and CEO of SARCOM, Inc. a national value added reseller (VAR) of computer products and services.

“When a new CEO is selected, Charles Sweet will offer continued support and guidance to that person, in his Platform Leader role, as he did for Rob Macchi in the past,” said Ms. Tilton.

About Patriarch Partners, LLC

Patriarch Partners is a vertically integrated distressed private equity firm with robust in-house operational turnaround expertise. Patriarch Partners, LLC (“Patriarch”), founded in 2000, was built upon a proprietary patented financial model designed to manage and monetize the distressed portfolios of financial institutions. Patriarch has since evolved into a global investment firm that concentrates on direct investments in distressed businesses, managing funds with over $7 billion of equity and secured loan assets with equity investments in more than 70 companies, and controlling interests in approximately two-thirds of these. For more information, please visit www.patriarchpartners.com.

About NetVersant:

NetVersant Solutions was founded in 2000 and acquired by the Patriarch funds in January 2009. A leading national provider of technology solutions, NetVersant tenders a complete range of voice, video and data communications services. Its technology offerings include local and wide area network infrastructure, wireless network installations, high-end telephony systems and applications and electronic security systems.

From planning and design, to installation and implementation, to certifications and ongoing operational integrity, NetVersant develops innovative solutions that operate at maximum efficiency and reliability. NetVersant provides the latest technology solutions for customers in a wide range of industries, including technology, finance, retail, communications, education and healthcare. The Company’s customers benefit from NetVersant’s exceptional technology team, superior resources and strong focus on service. www.netversant.com