Preferred Systems Solutions, Inc. (PSS) Announces Recapitalization
Founder Rob Hisel Named Chairman of the Board and Scott Goss to Become New CEO
MCLEAN, Va., September 4, 2007 -- Preferred Systems Solutions, Inc. (PSS) today
announced a significant private equity investment by CM Equity Partners and its
affiliates (CMEP) for the purposes of recapitalizing the company. Founder Rob Hisel
will continue in his position as Chairman of the Board. Scott Goss who has been a longtime executive consultant and advisor to the company will assume day-to-day
management responsibility in his new position as CEO.
Rob Hisel commented, "Our team is very excited by both our new partnership with
CMEP, who is well respected as a successful financial investor in our market, and our
closer relationship with Scott Goss who is well known in our industry as an accomplished
leader.”
Peter Schulte, a partner with CMEP commented, “We are looking forward to working
closely with Rob and Scott, whom we have known well for some time, to help support
the continued growth of the company.”
Scott Goss, the newly appointed CEO commented, “PSS’s dedication and commitment to
their customers and employees are truly remarkable. It’s an exciting, entrepreneurial
company with extremely high integrity. I am thrilled to become a member of PSS and am
dedicated to building upon the company’s culture of customer responsiveness, employee
development, excellence and integrity.”
About PSS
PSS is a privately held firm that provides IT services, engineering, and program
management support services both directly and indirectly to various agencies of the U.S.
Federal Government. Major clients include the U.S. Army, U.S. Navy, the Defense
Logistics Agency, and Department of Homeland Security. The company has
approximately 300 employees and is headquartered in McLean, VA.
About CM Equity Partners
CM Equity Partners is a private equity investment firm which makes controlling
investments in middle-market companies operating primarily in the U.S. and Canada.
Since 1993, CMEP has completed more than 40 acquisitions, with more than half being
in the Federal services sector. CMEP’s investments in this sector include AverStar, Inc.,
Resource Consultants, Inc., RGS Associates, Inc., ICF International, Inc. (Nasdaq: ICFI),
and 3001 International, Inc., among others.