System One, a Pittsburgh, Pennsylvania-based provider of outsourced technical services and workforce solutions, has received a new investment from funds managed by Oaktree Capital Management and StepStone Group.
The financial terms of the investment were not disclosed.
Led by CEO Troy Gregory, System One provides specialized technical services and workforce solutions to industries that operate critical infrastructure. Its customers include organizations in utilities, telecommunications, industrial, government, and other commercial sectors.
The company helps clients manage complex and mission-critical programs by providing specialized professionals, technical expertise, and workforce resources.
Founded more than 40 years ago, System One operates in more than 50 locations and employs over 10,000 professionals across the United States, Canada, the United Kingdom, and Brazil.
The investment from Oaktree and StepStone will support System One’s continued growth strategy, strengthen its ability to serve clients, and create new opportunities across its expanding range of services and solutions.
“I am very proud of the platform we’ve built, centered around technical solutions, and our talented employees delivering trusted expertise and mission-critical services for our clients,” said Troy Gregory, System One’s Chairman and CEO. “We’re excited to renew our partnership with Oaktree and bring StepStone into our investor group as we continue to execute our strategic growth initiatives, expand our capabilities, and invest in our platform and employees to enhance the value we bring to our clients.”
“System One has established itself as a leader in technical solutions, with a strong commitment to its people, clients, and culture of delivering high-quality solutions,” said Jimmy Lee, Managing Director and Assistant Portfolio Manager at Oaktree. “We are proud of our partnership with the entire System One organization during a period of significant growth and look forward to continuing our support of the Company’s strategic growth plan.”
Geoff Dolan, Partner at StepStone, said, “System One has built a highly respected platform known for its technical expertise, customer focus, and ability to deliver critical solutions to its clients. We’re excited to partner with Oaktree and look forward to supporting System One and its talented team.”
The company continues to focus on expanding its technical capabilities and supporting organizations that require specialized workforce and outsourced services for critical infrastructure projects.
