Houlihan Lokey Advises TPGS

Houlihan Lokey is pleased to announce that TPGS has been acquired by System One, a portfolio company of Thomas H. Lee Partners. The transaction closed on September 19, 2018.

TPGS, based in Reston, Virginia, provides customized mission-critical intelligence services and support with rapid response, proven talent, and exceptional service. The company focuses on delivering cleared teams of qualified IT professionals to the Department of Defense and federal clients. As part of the agreement, TPGS will maintain its brand and will operate as part of GAP Solutions, Inc., a System One company. With the acquisition, System One augments GAP Solutions' depth and breadth of capabilities to provide a broad array of solutions to defense and federal civilian customers.

System One, a company controlled by funds affiliated with Thomas H. Lee Partners L.P., delivers specialized workforce solutions and integrated services. We help clients get work done more efficiently and economically, without compromising quality. For more than 35 years, we've built our reputation on exceptional talent, flexible delivery, and full accountability. System One's national network spans energy, engineering, IT, commercial, scientific & clinical, legal, marketing, and beyond.

"System One is committed to the expansion of our government support capabilities," said Troy Gregory, President and CEO of System One. "The expertise and reputation of TPGS aligns with System One's strategy of providing mission-critical services, broadens our reach in the federal market, and creates opportunity for our continued growth."

Billy Hinson, Vice President of TPGS added, "The TPGS team is excited to become part of the System One family of companies. The union with GAP Solutions provides a platform of federal prime contract vehicles with the national reach needed to broaden our customer base and exceed our current growth targets."

Houlihan Lokey served as the exclusive financial advisor to TPGS. Houlihan Lokey's Human Capital Management (HCM) team is among the most active M&A advisors in the market, having closed seven HCM transactions in past 12 months and 27 HCM transactions since October 2014 with an aggregate enterprise value of close to $3.9 billion. This most recent transaction further strengthens Houlihan Lokey's leadership in the business services universe and highlights continued momentum and leadership in the HCM sector, which include staffing, recruitment, VMS, MSP, RPO, and PEO.

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