Dublin, May 19, 2009 - OASIS Group (Offsite Archive Storage and Integrated Services) today announced it has completed a transaction which represents a major recapitalisation with Housatonic Partners and Sverica International. Existing management will retain a significant portion of equity as the Group prepares for rapid expansion in Ireland and the UK.
OASIS is the leading indigenous company in the offsite records management market in Ireland (north and south). Group customers are primarily in the financial, legal, healthcare and government sectors. With significant operations in Belfast, Dublin and the greater London area, OASIS has experienced significant growth over the past two years.
Speaking after the share deal was completed Peter McCormick, Group Director of Sales and Marketing said "We are delighted to announce this partnership with Housatonic Partners and Sverica International, firms that share our commitment to building long term client relationships. This partnership will allow us to leverage Housatonic's and Sverica's resources and industry experience to continually improve our services to current customers as well as to enter new markets. This investment demonstrates our commitment to creating a records and information management business without equal in the markets we service and represents the creation of new jobs as we expand."
William Thorndike, Managing General Partner at Housatonic Partners, commented: "We are excited to add OASIS as our fourth investment in records management, an industry which exemplifies the economic characteristics we focus on. OASIS has a broad customer base and significant growth momentum. We look forward to working closely with the management team and Sverica International to further build the company."
Alessandro Mina, Managing Director at Sverica International, commented: "We are delighted that our relationship with Housatonic Partners and the management of OASIS has culminated in this investment. OASIS is an example of Sverica's strategy of investing in business service companies with recurring revenues and a track record of strong internal growth. We look forward to working with our partners and management to drive continued growth through strategic and operational initiatives."
OASIS provides secure offsite records management and related services to businesses. Its core capabilities are in the provision of hard copy paper storage, media storage, imaging, digital archiving and destruction services. With over 80 employees in Ireland and 35 in the UK OASIS is one of the leading records management providers in these markets. For more information, please visit www.oasisgroup.eu
About Housatonic Partners
Housatonic Partners is a private equity investment firm founded in 1994 with more than $650 million in capital under management. Housatonic invests in growing profitable companies in the recurring services, media and communications industries. Housatonic has partnered with exceptional management teams in more than 50 small to mid-sized companies in these industries over the last 15 years. For more information, please visit www.housatonicpartners.com.
About Sverica International
Sverica International is a leading private equity firm with over $425 million of assets under management across three funds. The firm acquires, invests in and actively builds companies that are or could become leaders in their industries. Since 1993, Sverica has maintained a "high touch" operating philosophy of taking an active role in portfolio companies. Sverica devotes significant internal resources to help its management teams develop and execute growth strategies. For more information, please visit www.sverica.com.