PROVIDENCE, R.I.--(BUSINESS WIRE)--Providence Equity Partners, the leading global private equity investment firm specializing in media, entertainment, communications and information services companies, announced today that Renato (Renny) A. DiPentima, former President, Chief Executive Officer and Board Director of SRA International, Inc. (NYSE: SRX), has joined the firm as a Senior Advisor. He will advise Providence on new investments in the government information services sector and serve on the board of Altegrity, Inc., a current Providence portfolio company that provides investigative, security and training services to federal government and commercial clients.
Mr. DiPentima brings a combination of government and private sector expertise to Providence, having served for 30 years in the federal government before spending 13 years with SRA. During Mr. DiPentima’s tenure, SRA grew from just over $100m to more than $1.2bn in revenue, creating a leading provider of information technology services and solutions throughout the federal government, including in the national security, intelligence and health care sectors.
“We believe the government information services market is a highly attractive area of continued investment for Providence,” said Julie Richardson, a Managing Director at Providence. “Renny has been a respected leader in the field for years and will bring to Providence strong relationships and a remarkable track record of driving growth. We look forward to working together to build leading businesses in this dynamic industry.”
“Throughout its history, Providence has built a tremendous track record of supporting proven, innovative management teams and creating value,” said Mr. DiPentima. “I look forward to working with Providence to identify world class management teams and help them build leading government services franchises.”
Mr. DiPentima served as President and COO of SRA from 2003 to 2005 and President and CEO from 2005 to 2007, during which time revenue and EBITDA grew at annual rates of 29% and 19%, respectively. Prior to joining SRA in 1995, Mr. DiPentima held several senior management positions in the U.S. federal government, including serving as the Social Security Administration’s Deputy Commissioner. Mr. DiPentima served as Chairman of the Federal Information Technology Acquisition Improvement Team, as part of the President’s National Performance Review initiatives.
Mr. DiPentima serves on the Board of Directors of Brocade Communication Systems, Inc. (Nasdaq: BRCD) and Capgemini Government Solutions LLC, as well as the Advisory Boards of Redhat, Inc. (NYSE: RHT), Blue Delta Capital Partners and SE Solutions, Inc. Mr. DiPentima graduated with a B.A. from New York University, an M.A. from George Washington University and a Ph.D. from the University of Maryland. He has also completed the Program for Senior Managers at the John F. Kennedy School of Government at Harvard University.
About Providence Equity Partners
Providence Equity Partners is the leading global private equity firm specializing in equity investments in media, entertainment, communications and information services companies around the world. The principals of Providence manage funds with over $22 billion in equity commitments and have invested in more than 100 companies operating in over 20 countries since the firm’s inception in 1989. Significant existing and prior investments include Bresnan Broadband Holdings, Casema, Com Hem, Digiturk, Education Management Corporation, eircom, Hulu, Idea Cellular, Kabel Deutschland, NexTag, Ono, PanAmSat, ProSiebenSat.1, Recoletos, TDC, Univision, VoiceStream Wireless, Warner Music Group, Western Wireless and Yankees Entertainment & Sports Network. Providence is headquartered in Providence, RI (USA) and has offices in New York, London, Los Angeles, Hong Kong and New Delhi. Visit www.provequity.com for more information.