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NEW YORK, NY, July 16, 2009 — Snow Phipps Group, LLC, a private equity firm, announced on July 7 that it had completed the acquisition of ITS Holding Company (ITSolutions), a leading information technology services provider to US government civilian, national security, and intelligence agencies, along with Mr. Stefan Lalos, co-founder and CEO of ITSolutions. Covington & Burling LLP advised Snow Phipps on the transaction.
Snow Phipps is a New York based firm founded by Ian Snow and Ogden Phipps that seeks to acquire middle market businesses in attractive industries by leveraging the expertise of exclusive operating partners. ITSolutions, headquartered in Silver Spring, Maryland, has consulted with over 19 government agencies and private companies by providing customers with expertise and solutions in the areas of program and project management, strategic planning, infrastructure operations, call center consulting and network engineering and operations.
The Covington corporate and tax team was led by partners Andrew Ment, Peter Schwartz, Carolyn Taylor and Harry Hives; the New York team also included of counsel Christian Neira and associates Brooke Purcell, Nina McIntyre and Jason Groth (corporate) and associate Lisa Schwartz (intellectual property). Covington’s Washington based team included partner Alan Pemberton and associate Scott Freling (government contracts), partner Michael Francese and associate William Woolston (employee benefits and executive compensation), and partner Lee Tiedrich (intellectual property).