MILWAUKEE, Feb. 8 /PRNewswire/ — The Potawatomi Business Development Corporation (PBDC) announced today a complete buyout of OneProspect Technologies. By purchasing the remaining interest in the company, the Forest County Potawatomi Community now owns 100 percent of the business.
OneProspect provides state-of-the-art network infrastructure and IP communications solutions to business customers throughout the United States. PBDC first took a 49 percentage ownership in OneProspect Technologies in February 2006.
“Our strengthening relationship with the Potawatomi Business Development Corporation allows us to grow into a bigger and better organization, and to further support our customers,” said Jason Neilitz, OneProspect Technologies CEO. “Working with the PBDC the past year has been a great experience and our entire team is excited about the future of our company.”
“OneProspect has demonstrated the commitment and desire we are seeking with our acquisitions,” said Carol Leese, Potawatomi Business Development Corporation CEO. “The buyout allows us to fully leverage our minority status for targeting Government contracts. Our immediate growth plans include opening a OneProspect Milwaukee office later this month and future offices on the West Coast.”
OneProspect currently has offices in Crandon and Rhinelander, WI, and Oklahoma City, OK. The buyout of OneProspect brings PBDC’s holdings to nearly $40 million.
“It’s a great day for the Forest County Potawatomi. The buyout continues to help us reach our tribe’s revenue diversification goals,” said Kip Ritchie, VP Business and Community Development for the PBDC. “Now full profits from OneProspect Technologies will be returned to tribal government to support tribal programs and provide an additional shareholder distribution for tribal members. The purchase also clarifies ownership structure and creates a solid future for the growth of OneProspect.”
“In just four years, the PBDC’s holdings have grown to nearly $40 million,” said James Crawford, Potawatomi Business Development Corporation Board Chair. “PBDC has excelled in finding the right partners. Assuming complete ownership of OneProspect is a great move for the tribe.”
Prior to the OneProspect buyout, PBDC in January purchased Advancia Corporation, a government contracting company based in Oklahoma City that focuses on technology solutions.
The Potawatomi Business Development Corporation is owned and operated by the Forest County Potawatomi Community of Wisconsin. The Corporation seeks to diversify Potawatomi business interests beyond gaming in an effort to secure the future of the Potawatomi tribe for the next 7 generations and beyond. In addition to OneProspect Technologies, other business holdings include: HCI Logistics, Advancia Corporation and Potawatomi Design Group. For more information on the Potawatomi Business Development Corporation, call Kip Ritchie at 414-727-2041 ext. 6007 or visit our website at http://www.potawatomibdc.com/.