NeoSystems Corp., a leading provider of outsourced accounting, cloud-based hosting, system consulting and other key strategic back office services, announced today it has closed a $15 million growth capital investment led by OFS Capital Corporation ('OFS Capital'). Peter Rothschild, Managing Director of OFS Capital, was also appointed to serve on the Board of Directors of NeoSystems Corp.
NeoSystems was advised on the transaction by Clearsight Advisors, a strategic and financial advisory firm based in McLean, Virginia that specializes in capital raising services for high growth professional services and technology companies.
The funding will be used to further strengthen and expand NeoSystems's software and service lines that enable clients to reduce back office costs and operate more efficiently.
Michael Tinsley, founder, president and chief executive officer of NeoSystems Corp. said, 'NeoSystems is excited to partner with OFS Capital. This important, strategic investment will help to fund NeoSystems' expansion in both existing and new lines of business to meet the ever-increasing back office demands that our clients face in the marketplace. Having a member of OFS Capital on our Board of Directors lays the groundwork for our long-term plans to provide more innovative and high-quality software and services to current and future clients. We also greatly appreciate the diligent and insightful work that Clearsight Advisors provided to NeoSystems Corp. throughout this process.'
Commenting on the funding and newly established relationship with NeoSystems Corp., Peter Rothschild, Managing Director of OFS Capital said, 'OFS Capital carefully assesses investment opportunities in middle-market companies. NeoSystems has an impressive track record of success and is poised for a high-growth trajectory. We are thrilled to partner with NeoSystems and the NeoSystems Management Team. This is the first step in a long-term relationship that will help propel NeoSystems to become the premier back office solution for companies worldwide.'
About NeoSystems Corp.
NeoSystems Corp., based in Tysons Corner, Virginia, delivers strategic back office services and solutions for government contractors, nonprofit organizations, and commercial entities. Utilizing best of breed technology and leveraging in-depth expertise in Accounting & Finance, Human Capital Management, Hosting, and Information Technology, our team helps companies improve vital operations, reduce their overhead costs and become compliant with complex federal requirements. We enable our clients to grow, become more profitable, efficient, and better equipped to win new business. Our solutions allow businesses and organizations to focus on what they do best - serving their customers and growing their businesses.
About OFS Capital Corporation
OFS Capital Corporation is an externally managed, closed-end, non-diversified management investment company that has elected to be regulated as a business development company. OFS Capital offers flexible financing solutions to middle-market companies in the U.S., and it is currently investing in lower-middle-market companies through its SBIC Fund subsidiary. The SBIC Fund targets investments of $3 to $20 million in businesses with EBITDA of $3 to $12 million. OFS Capital's investment activities are managed by OFS Capital Management, LLC, an investment adviser registered under the Investment Advisers Act of 1940 and headquartered in Chicago, Illinois, with additional offices in New York and Los Angeles.
About Clearsight Advisors
Clearsight Advisors is an independent merchant banking firm dedicated to providing world-class M&A and capital raising solutions exclusively to growth-oriented Business and Technology services companies. Clearsight combines deep market insights across software, services and data. This market knowledge combined with superior strategic and financial advice allows Clearsight to act as a catalyst, enabling entrepreneurs, private equity owners and board of directors to successfully advance their vision. Clearsight Capital Advisors, Inc., a wholly owned subsidiary, is a registered member of FINRA & SIPC.