Monthly Archives: June 2007

Edgewater Acquires PGI International

CHICAGO – Edgewater Growth Capital Partners II has recently completed the acquisition of PGI International. PGI designs, manufactures and distributes instrumentation and engineered products for the energy and agricultural industries worldwide.

The company has manufacturing operations in Houston; Queretaro, Mexico; and Changzhou, China. Management and the company’s previous controlling shareholders partnered with Edgewater in the transaction and have retained significant ownership in PGI.

Edgewater believes PGI represents an opportunity to invest in the growth of the global energy industry. As countries such as China and India continue to develop, demand for oil and gas around the world will continue to increase. This will drive the growth of energy industry suppliers such as PGI.

Through acquisitions and the growth of the company’s low-cost country manufacturing capabilities, Edgewater believes PGI can become a leading provider of engineered products to the global energy industry.

Interactive Technology Solutions, LLC Acquires ITEQ Integrated Technologies, Inc

Effective June 12, 2007, Interactive Technology Solutions, LLC (ITSolutions) announced that it signed a definitive agreement to acquire ITEQ Integrated Technologies, Inc. (ITEQ), a U.S. federal government information technology services company based in Silver Spring, MD.

Through this acquisition, ITSolutions staff will increase to more than 500 professionals and as importantly will expand its suite of services provided to the federal, state, and local government services sector to include the following verticals:

IT Strategic Planning,

Program Management,

Infrastructure Operations,

Network Engineering and Architecture,

Information Assurance,

and Data Center Relocation.

The acquisition gives ITSolutions several additional significant government contracts and expands its client base to include: Health and Human Services, the Food and Drug Administration, the Internal Revenue Service, the Department of Treasury, the Department of Defense, Alcohol Tobacco and Firearms, Office of Personnel Management, the Department of State and the DC Government. The combined company will operate as a prime contractor on nearly 70% of its contracts.

“ITEQ has a great reputation with its clients and a strong team of talented professionals that make it an excellent fit with the ITSolutions team,” said Stefan Lalos, CEO of ITSolutions. He added, “The capabilities of ITEQ and ITSolutions allow us to provide a greater level of service to our clients in support of their important missions.”

ITSolutions (http://www.itsolutions-llc.com) is a provider of information technology services to federal, state, and local government agencies. Headquartered in Gaithersburg, Maryland, ITSolutions was recognized in 2006 by Inc. Magazine as the nation’s 29th fastest growing private company (2nd in the technology sector), and by the Washington Business Journal as the 5th fastest growing company in the metro-DC area. The company was founded by Stefan Lalos and Mike Dietz and has a minority investment from the Edgewater Funds, a $1 billion private equity firm based in Chicago, Illinois.