System One Holdings LLC announced Dec. 8 it will receive a significant investment from funds managed by Los Angeles-based investment firm Oaktree Capital Management LP. Financial terms of the transaction were not disclosed except that the investment was significant.

System One provides engineering and IT staffing. SIA ranks the company as the fourth-largest engineering staffing firm in the US.

Oaktree’s investment will help support its continued growth, according to the company.

“We have rapidly expanded our platform and portfolio of services, and we believe System One is well-positioned for continued growth in partnership with Oaktree,” System One President and CEO Troy Gregory said. “The team at Oaktree shares our commitment to our customers and employees and strongly supports our growth initiatives, both organically and through targeted acquisitions.”

The deal is expected to close in the first quarter of 2021. It’s subject to regulatory approvals and other customary closing conditions.