Tysons-based Neosystems to be acquired by High Street Capital
Current management will remain in place
Tysons-based Neosystems is being acquired by High Street Capital, a Chicago-based private equity firm, the company announced Wednesday.
Neosystems is an IT systems integrator and managed services provider to government contractors.
Financial terms of the deal were not disclosed.
The current management team of Neosystems, including CEO and co-founder Michael Tinsley and co-founder and Chief Technology Officer Rob Wilson, will continue to lead the company.
“This is a terrific outcome for our company, customers, partners and workforce,” Tinsley said in a statement. “With the investment and confidence of High Street Capital, we will be able to expand our services and optimize market opportunities to better drive customer success and meet their increasing appetite for strategic outsourced and managed IT services.”
Neosystems employs nearly 200 workers and will continue to be based in Tysons.
“We see tremendous growth potential for NeoSystems especially as the rate of digital transformation has accelerated due to changes resulting from the pandemic,” said Timothy J. Kurth, partner at High Street Capital, in a statement. “NeoSystems offers a full complement of strategic and business essential functions that helps to ensure a company’s success. We believe with our guidance and oversight we can help take the company to the next level.”