|By Business Wire||
|December 3, 2012 07:30 AM EST||
Galeos Group, LP (“Galeos” or “the Company”) announced today that one of the nation’s largest private equity firms, Welsh, Carson, Anderson & Stowe (“WCAS” or “the Firm”), has committed $300 million of equity capital to the Company. Galeos will be a new entrant into the federal government services and solutions space.
Galeos will be led by industry veterans Philip O. Nolan, James Brabston, Joseph M. Cormier and Randy Brooks. Mr. Nolan was formerly Chairman, Chief Executive Officer, and President of Stanley, Inc., a publicly-traded company that served the federal technology services market with particular focus on the Department of Defense and National Security space. Mr. Nolan joined Stanley in 1989 and led the company through a long and sustained growth cycle, which led to a successful IPO in October 2006 and eventual sale to CGI Group in August 2010 for over $1 billion. At the time of its sale, Stanley had nearly $1 billion in revenue, approximately 5,000 employees worldwide and was recognized several times by Fortune magazine as a “Top 100 Places to Work”.
Mr. Brabston was most recently a Senior Vice President and General Manager of CGI Federal’s $1 billion revenue Defense and Intelligence Business Unit and was Chief Operating Officer of Stanley, Inc. prior to its sale to CGI. Prior to becoming Stanley’s COO, Mr. Brabston was responsible for Stanley’s Mission Systems Group, which grew from $100 million to over $350 million in revenue in the areas of systems engineering, cyber-security and intelligence programs under his leadership. He has more than 20 years of direct experience with the U.S. Department of Defense and Federal Government customers.
Mr. Cormier was most recently Executive Vice President and Chief Financial Officer of Sotera Defense Solutions, Inc. (formerly Global Defense Technology & Systems, Inc.), a publicly-traded company that served the Department of Defense and National Security community exclusively delivering technology services, systems and solutions. Mr. Cormier was instrumental in executing Sotera’s strategic growth plan through its successful take private leveraged buyout in April 2011 for approximately $315 million and continuing to build the rebranded Sotera through organic growth and M&A transactions. Prior to Sotera, Mr. Cormier was a senior executive at ManTech International Corporation from 2005 to 2010 and served as Senior Vice President, Corporate Development through a rapid period of growth from $800 million in revenue to over $2 billion in revenue through organic growth and focused strategic acquisitions.
Mr. Brooks was most recently a Group Senior Vice President, for CGI Federal, formerly Stanley, Inc., leading its Army and Defense Intelligence business unit, which generated approximately $400 million of revenue. Prior to Stanley, Mr. Brooks was Vice President, Business and Strategic Development for Oberon Associates. In 2008, the Oberon acquisition by Stanley Inc. was named “Deal of the Year Over $100MM” by the Association for Corporate Growth National Capital. Mr. Brooks is a retired, highly decorated Army Intelligence Officer.
“We are delighted to partner with Phil, Jim, Joe and Randy in the federal government services market,” said Mike Donovan, a WCAS General Partner and Galeos Board member. “Their complimentary backgrounds and talents will position Galeos as one of the preeminent service providers in the industry.”
“We are excited about the opportunity to partner with a firm of Welsh Carson’s national reputation for helping entrepreneurs build successful enterprises,” said Phil Nolan, Chairman & CEO. “Their large commitment to this endeavor will enable us to quickly assemble a company of scale capable of competing with anyone in the federal government contracting space.”
About Galeos Group, LP
Galeos Group is a newly formed company that will provide a comprehensive range of services and solutions to federal government clients. The Company will assemble a large array of contract vehicles and domain expertise to quickly respond to our customers’ mission critical needs. Galeos Group will serve the entire spectrum of our customers’ life cycle needs by focusing on speed of delivery and providing exceptional value. For more information about Galeos Group, please visit www.galeosgroup.com.
About Welsh, Carson, Anderson & Stowe
Welsh, Carson, Anderson & Stowe focuses its investment activity in two target industries, information/business services and healthcare. Since its founding in 1979, the Firm has organized 15 limited partnerships with total capital of $20 billion. The Firm is currently investing an equity fund, Welsh, Carson, Anderson & Stowe XI, L.P. See www.welshcarson.com to learn more.
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