EDISON, N.J., Dec. 19, 2013 /PRNewswire/ -- RCG Global Services ("RCG"), a leading provider of world-class technology solutions for complex business initiatives, announced today that it has completed a management led-buyout in partnership with Eos Partners, L.P. and its affiliates ("Eos"), a New York based private investment firm. RCG's management team will continue to lead the company, and this transaction will position the company for future growth in complementary industry verticals and geographies, both internally and through acquisition. RCG was previously owned by Reliance Insurance.
Commenting on the transaction, Rob Simplot, RCG's President and CEO noted, "This transaction is the culmination of hard work and significant growth. Now we begin our next chapter as an independent, standalone entity. We are glad to have found a strong and supportive partner such as Eos with whom to build a bigger and stronger enterprise providing our employees, customers, and referral community the opportunity to grow and benefit from the company's continued success."
"We look forward to working with Rob and the entire RCG management team to help the Company capitalize on the many opportunities it has before it, both internally and externally," said Mark First, Managing Director at Eos.
Signal Hill acted as sole financial advisor to RCG Global Services in connection with the transaction.
About RCG Global Services®: RCG Global Services has a rich 39-year history of providing professional services to the Global 1000 marketplace. Practices include Business Consulting, Business Intelligence, Development Services, and Outsourcing (QA and Software Testing and Application Management and BPO). RCG serves 250 clients and 25 of the Fortune 100 across a range of markets, with special focus on the Insurance, Retail, Healthcare, and Entertainment/Hospitality, and Energy/Utilities industries. RCG is based in Edison, New Jersey, with 12 offices nationwide, and an Offshore Delivery Center in the Philippines. For more information, please visit www.rcggs.com.
About Eos Partners: Formed in 1994, Eos Partners is a private investment firm with approximately $1 billion of private equity capital and commitments to invest alongside outstanding managers in growing companies. Eos focuses on working closely with management teams, and committing its understanding of strategic alternatives and the financial markets to help grow these businesses into larger scale, leading enterprises. For more information, please visit www.eospartners.com.
About Signal Hill: Signal Hill is a leading independent advisory boutique serving the M&A and private capital raising needs of growth companies. Signal Hill's experienced bankers provide deep domain expertise and an unyielding commitment to clients in our sectors: Internet & Digital Media, Internet Infrastructure, Services and Software. With more than 600 completed transactions and offices in Baltimore, Bangalore, Boston, Nashville, New York, Reston and San Francisco, Signal Hill leverages deep strategic industry and financial sponsor relationships to help our clients achieve Greater Outcomes. For more information, please visit www.signalhill.com.
SOURCE RCG Global Services