June 9, 2009
VC Firms, Atlantic Capital Group, Passive Investments, RDA Ventures, LLC, and the USA Fund Invest $2.5 Million in Oil Purification Systems (OPS)
Based in Shelton, Connecticut, Oil Purification Systems, or OPS announced that it had raised $2.5 million in funding from Atlantic Capital Group, Passive Investments, RDA Ventures, LLC, and the USA Fund. Along with the funding, Greg Slawson will come on board the OPS Team as the companyâ€™s new CEO.
OPS is an innovator in the oil purifying industry. The company manufactures liquid oil purification solutions which cleans engine oil from both solid and liquid contaminants. The major product that OPS has is the OPS-1 Onboard Fuel Cleaning product line. What makes OPSâ€™s solutions so innovative is that it actually dissolves the contaminants from the engine oil, which will eventually eliminate the need for routine oil changes, saving both money and time for companies that use cars, trucks and busses as the workhorse of their services. Already, the OPS-1 product line has been discovered by many trucking, bussing, construction and mining companies and they have been using the OPS-1 solutions with their oils for their machinery, reducing their oil maintenance time and costs by over 80%.
Though Greg Slawson is coming aboard as OPSâ€™s new CEO, he is not new to the company. Previously, Mr. Slawson has been working for the company as its COO. His experience in the automotive industry, which include consulting and software experience, spans over 20 years and at OPS, he has focused on the supply chain and logistics management. Before coming to OPS, Mr. Slawson also held several key positions at the Ford Motor Corporation, Visteon Automotive Systems, and Deloitte Consulting.
According to Greg Slawson, OPSâ€™s products for oil purification are becoming more and more acceptable by all sorts of businesses because the solutions reduce the waste of constant oil changes and furthermore help the environment by not disposing as much oil. The fact that OPSâ€™s solutions actually dissolve the contaminants in the oil, gives the oil a longer work life in the engine.
The Atlantic Capital Group (ACG) is a vc and private equity firm that invests in multiple industries throughout the United States. ACG also invests in real estate and is one of the leaders in both commercial and residential real estate financing. Some of the companies in ACGâ€™s portfolio include Residence Inn, Car Chex, Mariner Village, Lumiere Hotel/Condominium, and others.
RDA Ventures, LLC is a family run venture firm that is based in New York City and specializes in hedge funds, real estate, private equity, entertainment, specialized financing, and limited partnership investments. The belief that RDA Ventures, LLC has is that successful investments require more than capital, successful investments require a good working partnership with the management of the invested company and a shared vision of success.
For more information about OPS, click here.