Snow Phipps Group Acquires ITSolutions

NEW YORK, July 7 /PRNewswire/ -- Snow Phipps Group, LLC, a New York-based
private equity firm, today announced they have completed the acquisition of
ITS Holding Company ("ITSolutions"), along with Mr. Stefan Lalos, Co-Founder
and CEO of ITSolutions, from funds managed by The Edgewater Funds as well as
current and former employees of ITSolutions. Mr. Lalos will continue to lead
the company as CEO.

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ITSolutions, headquartered in Silver Spring, Maryland, is a leading
information technology services provider to U.S. government civilian, national
security, and intelligence agencies. ITSolutions provides infrastructure
operations, network engineering and architecture, information assurance,
specialized relocation and engineering, program management, software
development, and strategic planning to its customers with a focus on
end-to-end IT solutions and complementary consulting services.

"We are very pleased to announce our partnership with ITSolutions," said Ian
Snow, Snow Phipps' Managing Partner. "ITSolutions fills a valuable role
providing outstanding service to government agencies. ITSolutions is led by a
strong management team with a solid base of business and highly attractive
growth prospects."

"We have enjoyed a terrific relationship with Edgewater and look forward to
partnering with Snow Phipps in the next phase of our development," said Mr.
Lalos. "We are delighted to share our vision and build our business with the
support of Snow Phipps. We look forward to the strategic guidance they will
provide to take advantage of the opportunities for both organic and
acquisition oriented growth."

"Stefan Lalos and his team have built a company that is differentiated by its
superior customer service and its strategic market positions," said Leif
Soderberg, Snow Phipps Operating Partner. "We have worked diligently to
identify the right investment opportunity in the federal IT services
marketplace and believe that our partnership with Stefan and Leif will result
in the future growth and continued success of ITSolutions," added Snow Phipps
Investment Partner Sean Epps.

Mr. Soderberg will join ITSolutions as Non-Executive Chairman of the Board of
Directors. Mr. Soderberg brings extensive defense industry knowledge and
experience to the position with more than 10 years at Motorola, Inc. in a
range of senior positions including running their Defense business and as
Chief Strategy Officer and Head of Corporate Development. Prior to joining
Motorola, Mr. Soderberg was a Partner at McKinsey & Company, where he spent 15
years as a Management Consultant.

BB&T Capital Markets: Windsor Group acted as the exclusive financial advisor
to ITSolutions.

About Snow Phipps Group, LLC
Snow Phipps is a New York-based private equity 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 who are
seasoned industry executives.

About ITSolutions, LLC
Established in October 2001, Interactive Technology Solutions (ITSolutions) is
a privately held management and information technology consulting company.
ITSolutions employs over 500 professionals located in the Washington, DC
metropolitan area. ITSolutions 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.

SOURCE ITSolutions

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