- Investment Represents FFL’s 5th HR Services Investment in 5 Years
FFL Partners, a private equity firm focused on growth investments in middle market companies, announced that it has completed a significant investment in Optomi Professional Services , a leading provider of high-end technology consulting and staff augmentation under the Optomi brand and domestic rural outsourcing services under the Provalus brand. Financial terms of the private transaction were not disclosed.
“The need for expert IT talent in software development, cybersecurity, data modernization and business optimization has never been greater, and OPS is helping companies solve the technology talent shortfall in new and unique ways”
Founded in 2012 and headquartered in Atlanta, OPS provides technology consulting, team augmentation and domestic rural outsourcing services to Fortune 2000 Clients. OPS operates through two primary brands: Optomi (www.optomi.com), which focuses on high-end IT consulting and staff augmentation, and Provalus (www.provalus.com), a trailblazing provider of domestic IT outsourcing that creates quality IT jobs in rural communities. The Company’s services include a wide range of cybersecurity, data modernization, software engineering, cloud & infrastructure, helpdesk, customer service and business optimization consulting services.
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“The need for expert IT talent in software development, cybersecurity, data modernization and business optimization has never been greater, and OPS is helping companies solve the technology talent shortfall in new and unique ways,” said Jonathon Bunt, Director at FFL Partners. “We are excited to join forces with the talented OPS team, and we look forward to working together to strengthen the Company’s reach into new markets as OPS pursues the next chapter of growth with FFL’s partnership.”
“We’re thrilled to partner with FFL to continue empowering our clients to achieve their digital transformation initiatives,” said Chuck Ruggiero, CEO of OPS. “We’re confident that FFL’s resources and expertise will enable Optomi to meet the demand for next generation IT talent and provide Provalus with more opportunity to launch additional delivery center locations that benefit rural U.S. communities.”
The US IT staffing market is valued at $34 billion while the US IT Outsourcing Market is estimated at over $90 billion, according to industry data, and both are poised for additional growth as more corporations do business remotely and the demand for IT professionals with hard-to-find skill sets increases. OPS’ specialized IT staffing focus areas in particular represent a market that is growing up to 30 percent annually.
“OPS’ focus on giving back, emphasis on training and strong internal culture are truly differentiated in the industry,” said Cas Schneller, Managing Partner of FFL Partners. “FFL’s investment in OPS is our fifth deal in HR Services over the last five years, and the second that sits at the intersection with IT Services. Our experience in the space has helped us identify and partner with some of the best companies in the business and we look forward to supporting OPS’ continued success.”
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OPS’ Provalus brand represents a groundbreaking new domestic outsourcing model that benefits clients, employees and communities. U.S. businesses are rethinking offshoring, opting instead for cost-effective onshore solutions that meet their cultural alignment needs, time zone, business continuity, security and compliance requirements. With each Provalus delivery center, under-resourced rural communities get an infusion of quality, stable IT jobs, community to business partnerships and tax revenue.
“Provalus is helping to keep jobs in the U.S.A. and is revitalizing rural communities through the creation of new IT training and career pathways that can be accessed in employees’ own hometowns,” added Bunt. “Clients love the fact that they are supporting rural communities, but they choose Provalus because offshore providers simply can’t match the local U.S. quality.”
FFL has a history of investing in and building high-growth, technology and services firms that have defined, defensible niches and strong internal cultures, including Velocity Global, a market-leading provider of international expansion capabilities; ALKU, a high-end specialized staffing firm focused on the Life Sciences and IT end-markets; and Accordion Partners, a specialized consulting firm serving the office of the CFO for private equity-backed companies.
Fairmount Partners served as the sell-side advisor to OPS. Kirkland & Ellis LLP served as legal counsel to FFL and Morris, Manning & Martin, LLP served as legal counsel to OPS on the transaction.
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