Waterside Capital Acquires Lakeview Technology Solutions Divison of Netplex
Charlotte, NC – November 13, 2002 – The Netplex Group, Inc. (OTC-BB: NTPL; ” Netplex “), announced today that it has successfully sold its Lakeview Technology Solutions division (“Lakeview”) to publicly-held Waterside Capital Corporation (NASDAQ: WSCC; “Waterside”).
Based in Charlotte, NC, Lakeview provides technology-consulting, systems integration and technology procurement services to clients across the U.S. Based in Norfolk, VA, Waterside operates primarily in the mid-Atlantic US and is a closed-end, small-business investment company (SBIC) licensed by the Small Business Administration. Waterside invests in equity and debt securities to help privately owned companies expand and its investment portfolio holds some 30 stakes in such areas as business services, manufacturing, telecommunications, education, and technology.
Randy Grigg, Managing Director with DecisionPoint International, served as an advisor to Netplex on the transaction.
About Lakeview Technology Solutions
Based in Charlotte, NC, Lakeview provides technology consulting, systems integration and technology procurement services to clients across the U.S. The Company maintains partnerships with leading technology vendors such as Hewlett-Packard, IBM, EMC, Microsoft and Cisco. For additional information, visit www.lvts.net.
About Waterside Capital Corporation
Waterside Capital Corporation (NASDAQ: WSCC) is a closed-end investment company licensed by the Small Business Administration (SBA) as a small business investment company (SBIC). The Company invests in equity and debt securities to help its portfolio companies finance their growth, expansion and modernization. The Company raised its capital through private investments by individuals, businesses, financial institutions and governmental entities located primarily in eastern Virginia and through its January 1998 public offering. The firm’s investment portfolio holds some 30 stakes in such areas as business services, manufacturing, telecommunications, education, and technology. For additional information, visit www.watersidecapital.com
