Pfingsten has made an investment in Reading, Pennsylvania-based Omega Systems Consultants, a provider of managed IT solutions. No financial terms were disclosed.
Chicago, IL – March 16, 2021 – Pfingsten announces its investment in Omega Systems Consultants, Inc. (“Omega” or the “Company”), in partnership with the Company’s founders, Bill and Jennifer Kiritsis.
Headquartered in Reading, PA, Omega provides managed IT solutions, including cloud-based data hosting, incident management, cybersecurity, help desk support, storage, backup, disaster recovery, hosted infrastructure support and network health monitoring. The Company also provides professional IT support services and hardware and software configuration. Omega serves small and medium sized businesses within financial services, insurance, manufacturing, healthcare, professional services, education and local government industries. The Company brings enterprise-caliber IT solutions and support to organizations facing demanding data processing and compliance requirements.
“We are thrilled to partner with a rapidly growing company like Omega and support their next phase of growth,” said Phillip Bronsteatter, Managing Director at Pfingsten. “We started to pursue a platform investment within managed IT services over 18 months ago, and Omega is a perfect match to our criteria. We look forward to building upon Omega’s success with additional support and resources and actively pursuing strategic add-on acquisitions.”
“Pfingsten’s focus on culture, innovation and growth make them the ideal partner for our business,” said Omega Founder, Bill Kiritsis, who, along with Co-Founder Jennifer Kiritsis, retained significant equity ownership in the Company. “With Pfingsten’s financial backing, operational resources and experience supporting add-on acquisitions, we look forward to accelerating our growth through additional service offerings and expanded geographic reach.” Pfingsten’s managed IT initiative is supported by Bob Guilbert, an experienced IT services executive who will be an advisor to the Omega Board post-closing.
Pfingsten acquired the Company in February 2021, marking the eleventh platform investment for Pfingsten’s $382 million Fund V. For more information on Omega, visit omegasystemscorp.com.
Pfingsten is an operationally focused private equity firm formed in 1989. From its headquarters in Chicago, IL and representative offices in ChangAn, China, New Delhi, India and Chennai, India, the firm builds better businesses through operational improvements, professional management practices, global capabilities and profitable business growth rather than financial engineering. Since completing its first investment in 1991, Pfingsten has raised five investment funds with total commitments of approximately $1.3 billion and has acquired 144 manufacturing, distribution and business services companies. For more information, visit pfingsten.com.