Behrman Capital Acquires Renaissance Strategy Worldwide, Inc

Business Wire, March 23, 2000

Business Editors

NEW YORK--(BUSINESS WIRE)--March 23, 2000

--Global Provider of Strategic Consulting Services Joins

Growing Behrman Portfolio of Technology-Based Service Companies--

Behrman Capital, a private equity firm based in New York and San Francisco, announced today that it has acquired Renaissance Strategy Worldwide, Inc., a leading strategy and e-business consultancy to the global telecommunications and technology industries, from Renaissance Worldwide, Inc. (NASDAQ: REGI), a global information technology services provider.

Renaissance Strategy Worldwide, Inc., (RSWI) provides strategy and e-business consulting services to the global telecommunications, computing, commerce and content industries. With deep experience in the telecommunications and technology industries and a blue-chip customer base, RSWI has expertise in such areas as business-to-business marketing strategies, e-business strategies, enterprise transformation, customer experience enhancement, strategic performance management, and business strategy formulation. The company is headquartered in Boston, with regional offices in New York, San Francisco, Chicago and London.

"With a sterling reputation for its consulting services and a highly experienced management team, Renaissance Strategy Worldwide represents an excellent addition to our growing portfolio of consulting and service firms serving the telecommunications and information technology industries," said Darryl Behrman, a Managing Partner of Behrman Capital. "We believe this investment represents an excellent opportunity for our financial partners to benefit from the explosive demand for consulting services in telecommunications and technology-based industries."

Commenting on the transaction, Mark Bruneau, CEO of RSWI, said, "We are excited about our partnership with Behrman Capital, which provides us with the operational independence and financial flexibility to broaden our reach and embark on the new millennium reaffirming our deep telecommunications and information industry expertise."

Based in New York City and San Francisco, Behrman Capital was founded in 1992 by Darryl G. and Grant G. Behrman. The firm invests in management buyouts, leveraged buildups and recapitalizations of established growth companies and provides expansion capital to emerging growth companies. The company's investments are focused in the information technology and services, business-to-business outsourcing and health care industries. The firm currently has a combined capital base exceeding $640 million.

Other Behrman portfolio companies involved in the telecommunications and information technology industries include: The Management Network Group (Nasdaq: TMNG), a leading provider of management consulting services to the global telecommunications and e-business industries; Groundswell Inc., a premiere Internet consulting and implementation firm; Intertech Management Group, a market leader in providing billing and customer care software solutions to the competitive communications industry; ACS Communications, a leading provider of outsourced communications network infrastructure services for the information technology industry; and Flashcom, a leading provider of digital subscriber line (DSL) services to residential and small business customers nationwide.