Washington Harbour Partners Announces the Acquisition of Telesto Group
Arlington, VA – December 3, 2021. Telesto Group, a leading government technology services company, today announced it has received a majority investment from Washington Harbour Partners (WHP), a Washington DC area investment firm focused on technology, government services, and business services. Founded in 2001, Telesto Group is an IT firm with market-leading capabilities in program management, process improvement, business transformation, supply chain, SAP technical strategy, architecture, and implementation.
Telesto Group will continue to operate as a standalone company within the WHP family of investments. WHP operating executives, George Batsakis and Jerad Speigel, (both long term “govcon” veterans) will serve as the Company’s CEO and Chief Strategy and Corporate Development Officer, respectively. Company founder and former CEO, Soren Hastrup will remain affiliated with the company as an advisor, supporting ongoing business operations and strategic efforts.
"We are thrilled to partner with Telesto and support their journey to solve the most pressing challenges in public sector. Their mission-critical expertise and intellectual property are key differentiators in the Federal sector,” said Mina Faltas, Washington Harbour’s Managing Partner. “In Telesto, we found a company that has solved complex challenges; proving that real technology change can occur for clients in the most critical mission areas.”
New Telesto Group CEO, George Batsakis said, “Telesto Group is a critical partner for customers who have massively complex needs in and around their ERP environments. Telesto’s technology expertise, coupled with their deep mission domain expertise, make them an excellent firm to help clients now and into the future. I am thrilled to take the company forward as CEO.”
About Washington Harbour Partners
Washington Harbour Partners is a leading investment firm which employs a fundamentals-driven strategy with an emphasis on small- and mid-cap investments. Washington Harbour’s investment focus is concentrated in the areas of technology, media, telecom, consumer services, business services, and government services sectors across private and public equity. The research process takes a value-add approach, identifying and investing in companies with the goal of creating value for investors, customers, employees, and the community. Based in Washington DC, Washington Harbour has a team of professionals with combined decades of experience in public and private equity investing with expertise in its sectors of focus. Washington Harbour believes that tremendous opportunity exists to increase the efficiency and effectiveness of the Federal government through transformative next-generation software and technology. Further information is available at washingtonharbour.com.
Contact Information
Scott Barnes
sbarnes@washingtonharbour.com