OFS Capital Leads NeoSystems $15MM Growth Investment
NeoSystems announced it closed a $15 million growth capital investment led by OFS Capital. Peter Rothschild, managing director of OFS Capital, was also appointed to serve on the board of directors of NeoSystems.
NeoSystems was advised on the transaction byClearsight Advisors. The funding will be used to further strengthen and expand NeoSystems’s software and service lines that enable clients to reduce back office costs and operate more efficiently.
Michael Tinsley, founder, president and CEO of NeoSystems, said, “NeoSystems is excited to partner with OFS Capital. This important, strategic investment will help to fund NeoSystems’ expansion in both existing and new lines of business to meet the ever-increasing back office demands that our clients face in the marketplace. Having a member of OFS Capital on our Board of Directors lays the groundwork for our long-term plans to provide more innovative and high-quality software and services to current and future clients. We also greatly appreciate the diligent and insightful work that Clearsight Advisors provided to NeoSystems Corp. throughout this process.”
Peter Rothschild, managing director of OFS Capital, said, “OFS Capital carefully assesses investment opportunities in middle-market companies. NeoSystems has an impressive track record of success and is poised for a high-growth trajectory. We are thrilled to partner with NeoSystems and the NeoSystems Management Team. This is the first step in a long-term relationship that will help propel NeoSystems to become the premier back office solution for companies worldwide.”
Tysons Corner, VA-based NeoSystems delivers back-office services and solutions for government contractors, nonprofit organizations and commercial entities.