M&A Deal Summary

Oaktree Capital Management Acquires System One

On December 8, 2020, asset manager Oaktree Capital Management acquired staffing company System One from Thomas H. Lee Partners

Acquisition Highlights
  • This is Oaktree Capital Management’s 1st transaction in the Staffing sector.
  • This is Oaktree Capital Management’s 60th transaction in the United States.
  • This is Oaktree Capital Management’s 4th transaction in Pennsylvania.

M&A Deal Summary

Date 2020-12-08
Target System One
Sector Staffing
Buyer(s) Oaktree Capital Management
Sellers(s) Thomas H. Lee Partners
Deal Type Secondary Buyout

Target

System One

Pittsburgh, Pennsylvania, United States
System One is a provider of managed staffing and technical outsourcing solutions to improve productivity, specializing in the energy, engineering, information technology, commercial and scientific sectors. System One is the sixth largest engineering staffing companies and the forty-second largest staffing company overall in the U.S. System One is based in Pittsburgh, Pennsylvania.

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Buyer(S) 1

DESCRIPTION

Oaktree Capital Management LLP is a global alternative investment firm with a variety of investment strategies spanning corporate debt, convertible securities, distressed debt, control investing, real estate, and public investing. The Firm's control investing group is spread across several disciplines, including Global Principal, European Principal, Power, and Infrastructure. Oaktree was formed in 1995 and is based in Los Angeles.


DEAL STATS #
Overall 89 of 107
Sector (Staffing) 1 of 1
Type (Secondary Buyout) 18 of 21
State (Pennsylvania) 4 of 4
Country (United States) 60 of 71
Year (2020) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-07 Array Technologies

Albuquerque, New Mexico, United States

Array Technologies is a manufacturer of smart, cost-effective, reliable, and robust solar tracking systems for utilities, corporations, small businesses, and homeowners. A pioneer in ground-mounted solar systems design and manufacturing, Array is recognized for its performance-driven products and engineering expertise. The company provides solar tracking solutions for any project, whatever its scale, location, or requirements. Array Technologies was incorporated in 1989 and is based in Albuquerque, New Mexico.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-30 AGRO Merchants Group

Schiphol, Netherlands

AGRO Merchants Group LLC is a provider of an innovative cold chain solution. AGRO Merchants owns and operates over 7.7 million cubic meters of temperature-controlled warehouse and distribution space in the U.S, UK, Austria, Ireland, Spain, Portugal, Poland, Australia, Brazil, Chile, and the Netherlands. AGRO Merchants was founded in 2013 and is based in Schiphol, Netherlands.

Sell -

Seller(S) 1

SELLER

Thomas H. Lee Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1974
PE ASSETS 35.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Thomas H. Lee Partners (THL) is a private equity firm that seeks buyout, expansion, consolidation, distressed, and recapitalization investments across various industries. Sectors of interest include business and information services, consumer products/retail, financial services, healthcare, industrial, and media/communications. THL looks to invest $100 to $400 million in companies valued up to $2.5 billion. THL was formed in 1974 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 50 of 54
Sector (Staffing) 1 of 1
Type (Secondary Buyout) 11 of 12
State (Pennsylvania) 4 of 4
Country (United States) 42 of 45
Year (2020) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-10-21 Care Hospice

Charlottesville, Virginia, United States

Care Hospice is an operator of a Hospice that delivers the quality of care to its patients across a variety of settings, including homes, skilled nursing facilities, and assisted living facilities. Care Hospice was founded in 2008 and is based in Charlottesville, Virginia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-12-24 CSafe Global

Monroe, Ohio, United States

CSafe Global is a provider of cold chain packaging solutions that address the global supply chain needs of the biopharmaceutical industry. CSafe Global’s climate-controlled containers are designed to maintain high-value and temperature-sensitive biopharmaceutical cargo at precise temperatures for extended periods of time and in extreme external conditions. CSafe Global is based in Monroe, Ohio.

Sell -