Cyprium Partners Corp. Announces Exit from OAO Technology Solutions, INC.
Greenbelt, MD – March 9, 2010 – Key Principal Partners Corp. (“KPP”), a $1 billion private investment firm, announced today its exit from OAO Technology Solutions, Inc. (OAOT). OAOT provides managed IT solutions, including application management, IT infrastructure support and professional staffing to global outsourcers and major corporations in North America and Europe. KPP’s original investment of $13.5 million in subordinated debt and common stock in December 2003, in a transaction led by J.F. Lehman & Company, helped OAOT complete a take-private transaction. Through privatization, the company saved upwards of $1 million per year in “public company” costs.
About Key Principal Partners
Key Principal Partners (KPP) is a $1 billion private investment firm that provides expansion capital to profitable middle-market companies with at least $30 million in revenue. The firm has the flexibility to provide any combination of subordinated debt, preferred equity and/or common equity in either non-control (minority ownership) or control (majority ownership) positions. KPP can invest between $10 million and $40 million to facilitate the growth, acquisition, refinancing, deleveraging or liquidity needs of private company owners and their management teams. Affiliated with KeyCorp, KPP is headquartered in Cleveland, and has additional offices in Greenwich, and San Francisco.