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KippsDeSanto & Co. advises CRAssociates, Inc. on its sale to Valor Healthcare, a portfolio company of Trive Capital

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KippsDeSanto & Co. advises CRAssociates, Inc. on its sale to Valor Healthcare, a portfolio company of Trive Capital

KippsDeSanto & Co. is pleased to announce the sale of its client, CRAssociates, Inc. (“CRA” or the “Company”) to Valor Healthcare (“Valor”), a portfolio company of Trive Capital.

Headquartered in Newington, Virginia, CRA is a leading operator of Community-Based Outpatient Clinics (“CBOCs”) for the Department of Veterans Affairs nationwide, providing the U.S. Veteran population with easy and convenient access to quality healthcare. These clinics provide outpatient services, including but not limited to routine diagnostic procedures, immunizations, behavioral healthcare, and health and wellness visits.  In addition, CRA manages an acclaimed occupational health program with multiple clinics spanning several states.

The transaction is expected to enhance Valor’s geographic reach and strengthen its position within existing core markets.

We believe this transaction highlights several key trends in the Government Services M&A market:

  • Enhanced interest in health-related markets given ongoing demographic and anticipated budget trends
  • Significant interest for companies with entrenched customer relationships and strong past performance qualifications
  • Private equity continues to aggressively deploy capital through its existing portfolio companies to supplement growth and accelerate to scale

About KippsDeSanto & Co.

KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency

 Press Release

October 5,2021

Valor Healthcare Acquires CRAssociates

 Dallas, Texas – Valor Healthcare, Inc. (“Valor” or the “Company”), a portfolio company of Trive Capital, is excited to announce its recent acquisition of CRAssociates, Inc. (“CRA”).  Founded in 1997 and headquartered in Springfield, VA, CRA is an outsourced provider of Community-Based Outpatient Clinics (“CBOC”) for Veteran Affairs Medical Centers. Key service offerings include design and development of mission critical healthcare facilities logistics and management of healthcare professionals to provide comprehensive, cost-effective healthcare services for government and corporate clients throughout the United States.

Dr. Scott Wise, CEO of Valor and a veteran himself stated, “Valor is a leader in the CBOC market, and we are excited about the addition of the CRA leaders and staff to join in our continued success and expansion. We share in our passion for the mission and look forward to continuing to enhance our healthcare service offerings for our federal government partners.”

“We would only embark on the transfer of our CRA family to the best leader in our industry as we believe there is no compromise on quality and doing what is right for our veterans,” commented Charlie “Chief” Robbins, COO, Senior Executive Vice President at CRAssociates, Inc.  “With their leadership and combined CRA leadership we now have here at CRA, Valor becomes a powerful leader postured for growth and success for the future across the U.S.”

Conner Searcy, Managing Partner at Trive, added, “We have been pleased with our partnership with the Valor management team and continue to be firm believers in the Company’s mission. The addition of CRA is the first step in expanding the Company’s reach in serving our nation’s veterans and brings additional capabilities in the occupational health and wellness space. The team is keen on continuing to provide high quality healthcare and ancillary services in our communities and serving federal government customers.”

Valor is actively seeking add-on opportunities in the federal agency contracted healthcare services industry, including but not limited to, medical or medical facility contracting, mental health and behavioral services, onsite healthcare and wellness for federal offices, government and medical staffing, and OCONUS opportunities within the healthcare and government contracting industries.

About Valor Healthcare, Inc.

Valor Healthcare Inc. will now operate more than 50 VA community-based outpatient clinics in the United States as a contractor for the US Department of Veteran Affairs. Valor provides a full range of medical services to veterans through the operation of CBOCs tailored to meet the specific needs of local VA medical centers. The company’s comprehensive set of services includes primary care, diagnostics, laboratory, telehealth, behavioral health, and occupational health and wellness.

About Trive Capital

Trive Capital is a Dallas, Texas based private equity firm with approximately $3.6 billion in assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.

The Trive team is comprised of seasoned investment professionals who have been involved in over 100 middle-market transactions representing in excess of $6 billion in revenue across Trive’s targeted industry sectors and situations.

AtlasResearch

KippsDeSanto & Co. Advises Atlas Research LLC on its sale to Customer Value Partners, LLC

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KippsDeSanto & Co. Advises Atlas Research LLC on its sale to Customer Value Partners, LLC

KippsDeSanto & Co. is pleased to announce the sale of Atlas Research LLC (“Atlas” or the “Company”) to Customer Value Partners, LLC (“CVP”).

Headquartered in Washington, D.C., Atlas provides evidence-based and innovative transformation solutions targeted at the most pressing, sizable, and complex health, healthcare, and social services challenges facing Federal agencies.  Through implementation of data-driven insights and analytics, Atlas helps drive improved organizational effectiveness and transformation campaigns by optimizing technology, operations, and programs across the full lifecycle of customer needs.

Since its founding in 2008, Atlas has built deep and longstanding relationships across the Federal health market due to its role as a trusted partner capable of repeatedly delivering successful large scale, highly-visible, complex transformations across diverse enterprise-wide and organizational transformation efforts.  Notably, the Company has established embedded relationships within the Department of Veterans Affairs (“VA”), the Department of Health and Human Services (“HHS”), and the Department of Defense (“DoD”), amongst others.

We believe this transaction highlights several key trends in the M&A market:

  • Favorable view of exposure to large, growing Federal health market given recent change in administration
  • Strong demand for access to the VA and HHS via major contract vehicles and BPAs (e.g., access to $1B VHA IHT IDIQ and $322M FDA BPA) as well as longstanding and embedded customer intimacy
  • Desire for bolstered capabilities in leading edge digital and transformation solutions and expertise
  • Continued emphasis on acquiring companies with deep personnel benches (highlighted by technical subject matter expertise, level of education, and requisite industry credentials)
  • Strategic buyers place high value on the ability to complement and expand capabilities portfolio to further establish customer footprint without compromising on cultural alignment

About KippsDeSanto & Co. KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency.

Press Release

CVP Acquires Atlas Research, Broadens Healthcare Strategy, Consulting and Research Offerings

Fairfax, VA – August 24, 2021 – Customer Value Partners, Inc. (CVP), a business and technology consulting firm that helps organizations prepare for a culture of Continuous Change, announces today its acquisition of Atlas Research (Atlas), an award-winning firm that partners with federal health organizations to drive mission-critical innovation and transformation. Through this acquisition, CVP further realizes its goal of becoming a premier mid-tier comprehensive healthcare solutions and citizen services consulting and systems integration firm. CVP acquired Atlas because of its similar culture, values, and vision for the future as well as its exceptionally talented team.

With Atlas, CVP adds new capabilities spanning research and evaluation, organizational transformation and innovation, strategic communications, and human capital solutions; deep domain expertise in veterans and military health, pandemic planning and response, health equity, mental health, and rural health; and a marquee federal health customer base. This merger, done solely through the strength of CVP’s own resources, adds over 170 professionals with deep healthcare and consulting experience to the CVP family.

Atlas brings a franchise position at the US Department of Veterans Affairs, a client they have served since 2008. Atlas accelerates CVP’s growth through the addition of major new health clients, domain expertise, capabilities, and contract vehicles. The acquisition strengthens CVP’s strategic focus on federal health agencies by adding a strong portfolio in the VA and expanding our portfolio across HHS. It includes the Veterans Health Administration (VHA) Integrated Healthcare Transformation (IHT) contract—a 10-year, $1 billion indefinite delivery/ indefinite quantity (IDIQ). It opens up access to the FDA with the $322M ceiling Business Transformation Team (BTT) BPA and the $100M ceiling Integrated Solutions (IS) BPA. It also provides a new government-wide vehicle for CVP’s transformation and human capital offerings via GSA’s Human Capital and Training Solutions (HCaTS) BPA (UNR).

“CVP’s acquisition of Atlas is the realization of a shared vision for an industry-leading, comprehensive mid-tier healthcare technology and consulting firm primed for growth,” said Atlas Co-Founder and CEO Ryung Suh. “The marriage of our respective capabilities, experience, and mission-driven cultures will translate to added value for our clients and their efforts to improve the health and wellbeing of our fellow citizens.”

“CVP’s vision as a fully integrated healthcare solutions and citizen services firm relies on expanding from a technology-centric services innovator to an end-to-end advisory, research, technology, and managed services firm,” said Anirudh Kulkarni, CVP Founder and CEO. “Atlas’ experience as the trusted transformation partner of clients across the VA and HHS provide the advisory and consulting capabilities to accelerate CVP’s growth strategy.”

 About CVP

Customer Value Partners (CVP) is an award-winning business and next-gen technology consulting company that helps organizations navigate disruption and prepare for a culture of Continuous Change. We solve critical problems for healthcare, national security, and public sector clients through innovative strategies and solutions that leverage technologies and industry expertise in areas including Technology Modernization, Data Science & Engineering, Business Transformation, and Cybersecurity. CVP delivers unparalleled excellence to clients and employees through a strong culture of integrity, engagement, respect, and a passion for our clients’ missions.

Learn More

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KippsDeSanto & Co. Advises ERPi on its sale to ECS a portfolio company of ASGN Incorporated

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KippsDeSanto & Co. advises Enterprise Resource Performance, Inc. on its sale to ECS Federal, LLC, a segment of ASGN Incorporated

KippsDeSanto & Co. is pleased to announce the sale of its client, Enterprise Resource Performance Inc. (“ERPi” or the “Company”), to ECS Federal, LLC, a segment of ASGN Incorporated (NYSE: ASGN).

Headquartered in Fairfax, VA, ERPi is a leading provider of healthcare transformation, management consulting, and data analytics solutions across well-funded civilian and defense customers, including the Department of Veterans Affairs (“VA”) and the National Institutes of Health (“NIH”), among others.  Of note, ERPI is deeply embedded within the Veterans Health Administration, helping to solve some of the nation’s most pressing healthcare problems, while designing, developing, and implementing innovative and data-driven solutions that have increased medical appointments, reduced wait times, assisted with suicide prevention, and supported the opening of medical centers.  Notably, the Company was instrumental during the COVID-19 pandemic, having implemented telehealth solutions and developed processes to address shortages in critical medical supplies.  Additionally, through its domain-agnostic and rapidly growing data analytics practice, the Company uses in-house artificial intelligence / machine learning (“AI / ML”)-based tools, algorithms, and automation techniques to, reconcile client data, recover and protect fraudulently redirected healthcare benefits, optimize claims processing, and allow clients to “search by image” through deep learning-based image recognition.  ERPi’s advanced tradecraft has positioned the Company as a trusted partner to government executives at the forefront of national healthcare missions on large, transformative programs.

The transaction complements ECS’ healthcare consulting and analytics competencies and affords the buyer depth and breadth across well-funded customers, including the VA, germane to national health challenges.

We believe this investment demonstrates several key trends in the current government technology solutions M&A environment:

  • Healthcare –and specifically healthcare consulting and analytics – has re-emerged as a highly coveted growth and M&A area given demographic and budgetary trends
  • Strong focus on companies that have intimate, long-standing client relationships and strong competitive differentiators within the rapidly evolving federal healthcare ecosystem (e.g., electronic health record modernization, integrated health plans, and virtual health)
  • Significant demand for advanced, data-centric consulting solutions driven by AI / ML
  • Strategic buyers continue to seek acquisitions that unlock value and accelerate growth, particularly for assets that afford substantial revenue visibility, intellectual capital, and seasoned management teams

About KippsDeSanto & Co. KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity, and industry experience.  We help market leaders realize their full strategic value.  Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships.  There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency.

Press Release

ASGN Incorporated Announces Acquisition of Enterprise Resource Performance, Inc.

Acquisition enhances ECS’ healthcare IT solutions and provides access to new customers and contract vehicles

RICHMOND, Va.–(BUSINESS WIRE)– ASGN Incorporated (NYSE: ASGN), one of the foremost providers of IT and professional services in the technology, digital, and creative fields across the commercial and government sectors, announced today the acquisition of Enterprise Resource Performance, Inc. (ERPi), a premier healthcare consulting and data analytics firm that delivers federal healthcare transformation services. ERPi’s team of 250 consultants will become part of the Enterprise Solutions business unit within ECS, ASGN’s Federal Government Segment.

Founded in 2001 in Fairfax, Virginia, ERPi provides IT solutions, data analytics, artificial intelligence/machine learning (AI/ML), and healthcare domain expertise to government entities, including the Department of Veterans Affairs (VA), the National Institutes of Health (NIH), the Navy Bureau of Medicine and Surgery (BUMED), Indian Health Services (IHS), the Securities and Exchange Commission (SEC), and the US Army. ERPi supports key health initiatives including electronic health records modernization, post-COVID-19 care models, and improved access to provider and cost information, among other programs.

“Following one of the most difficult years for the global healthcare market, ASGN is proud to add enhanced solution capabilities in the healthcare industry with the addition of ERPi,” said Ted Hanson, ASGN President and Chief Executive Officer. “ERPi offers superior IT services depth and healthcare industry knowledge, and we look forward to leveraging their proven healthcare and business transformation capabilities across our combined client base.”

“The acquisition of ERPi deepens ECS’ capabilities across a number of exciting solution areas and provides key contract vehicles that will bolster our current healthcare industry offerings. We are thrilled to bring their team’s experience to new and existing customers across industry and government,” said George Wilson, President of ECS.

“Like ECS, ERPi has a long history of taking on their clients’ largest and most complex challenges, including federal departments like the VA. ECS is pleased to support human-centric missions – helping to accelerate meaningful and enduring transformation to improve the lives and medical care of our nation’s veterans and military families,” added John Heneghan, Chief Operating Officer of ECS.

“Joining ECS is an incredible next step for ERPi. Our customers will not only benefit from ECS’ deep enterprise resources and program-level experience, but also from their digital transformation, cybersecurity, data and AI solutions. We are thrilled to have this opportunity to join the ECS and the broader ASGN platform,” said Bill Hummel, President of ERPi.

Equity Grants

In addition to the cash consideration, ASGN is granting restricted stock unit awards to 14 ERPi employees covering approximately 29,000 shares. Subject to continued service to ASGN, these grants will vest: (a) one-half on the second anniversary of the grant date, and (b) 25 percent on each of the third and fourth anniversaries of the grant date. The restricted stock unit awards were granted as employment inducement awards pursuant to the New York Stock Exchange rules.

Legal & Financial Advisors

ASGN retained Sullivan & Cromwell LLP and ERPi retained Venable LLP and PilieroMazza PLLC as legal counsel and KippsDeSanto & Co. as financial advisor.

About ASGN Incorporated

ASGN Incorporated (NYSE: ASGN) is one of the foremost providers of IT services and professional solutions, including technology, creative, and digital, across the commercial and government sectors. ASGN helps leading corporate enterprises and government organizations develop, implement and operate critical IT and business solutions through its integrated offering of professional staffing and IT solutions. ASGN’s mission is to be the most trusted partner for companies seeking highly skilled human capital and integrated solutions to fulfill their strategic and operational needs. For more information, visit us at asgn.com.

About ECS

ECS, ASGN’s Federal Government Segment, delivers advanced solutions in cloud, cybersecurity, data and artificial intelligence (AI), application and IT modernization, science, and engineering. The company solves critical, complex challenges for customers across the U.S. public sector, defense, intelligence, and commercial industries. ECS maintains partnerships with leading cloud, cybersecurity, and AI/ML providers and holds specialized certifications in their technologies. Headquartered in Fairfax, Virginia, ECS has more than 3,000 employees throughout the United States. For more information, visit ECStech.com.

Safe Harbor

Certain statements made in this news release are “forward-looking statements” within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and involve a high degree of risk and uncertainty. Forward-looking statements include statements regarding our anticipated financial and operating performance.

All statements in this release, other than those setting forth strictly historical information, are forward-looking statements. Forward-looking statements are not guarantees of future performance, and actual results might differ materially. In particular, we make no assurances that the estimates of revenues and Adjusted EBITDA will be achieved. Factors that could cause or contribute to such differences include actual demand for ASGN services, the Company’s ability to attract, train and retain qualified staffing consultants, the Company’s abilities to remain competitive in obtaining and retaining clients, the availability of qualified contract professionals, management of growth, continued performance and improvement of enterprise-wide information systems, the Company’s ability to manage litigation matters, the successful integration of recent or future acquisitions and demand for each of our services and other risks detailed from time to time in reports filed with the SEC, including ASGN’s Annual Report on Form 10-K for the year ended December 31, 2020, as filed with the SEC on March 1, 2021. We specifically disclaim any intention or duty to update any forward-looking statements contained in this news release.

 

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KippsDeSanto & Co. advises Occam’s Razor Technologies, LLC on its sale to Avantus Federal, a NewSpring Holding Company

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KippsDeSanto & Co. advises Occam’s Razor Technologies, LLC on its sale to Avantus Federal, a NewSpring Holding Company

KippsDeSanto & Co. is pleased to announce the sale of its client, Occam’s Razor Technologies, LLC, (“ORT” or the “Company”), to Avantus Federal, LLC, (“Avantus”) a NewSpring Holding Company.

Headquartered in Reston, VA, ORT is a leading provider of cyber solutions focused on cyber tool development and assessment in support of classified Intelligence Community (“IC”) and Department of Defense (“DoD”) missions.  The Company provides the full lifecycle of cyber tools and products from development through deployment.

The ORT acquisition deepens Avantus’ position with national security customers and augments its cyber offerings. These capabilities and solutions will accelerate the combined entities position as an industry leader, providing these cyber solutions across a growth and broader set of Federal Government customers.

We believe this transaction demonstrates several key trends in the government services mergers and acquisitions (“M&A”) market:

  • Strong demand for Company-developed intellectual property and advanced engineering and cyber solutions capabilities
  • Unique, franchise positions within key Federal customers at the forefront of priority government missions
  • Financial sponsors continued appetite to deploy capital through new platform investments and bolt-on acquisitions to existing portfolio companies, particularly for those assets with long-term contracts, strong management teams, and differentiated capabilities
About KippsDeSanto & Co.  KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies.  We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience.  We help market leaders realize their full strategic value.  Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships.  There’s no substitute for experience.   For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency. 

Press Release

Avantus Federal Announces Acquisition of Occam’s Razor Technologies, LLC 

McLean, VA – August 23, 2021 Avantus Federal, a NewSpring Holding Company and a leader in mission-focused, service-driven solutions, has acquired Occam’s Razor Technologies, LLC., a Reston, VA based leading provider of cyber solutions focused on cyber tool development and assessment in support of high-value Defense, Intelligence and National Security mission requirements. This acquisition further enhances Avantus’ cyber operations and solutions platform through differentiated technology and delivery capacity at scale, bringing an additional suite of capabilities to the company’s extensive base of federal government customers.

Occam’s Razor Technologies (“ORT”), founded in 2011, primarily supports the Intelligence and Defense communities and develops and delivers a robust portfolio of technologies, cyber tools, and integrated software solutions to some of the nation’s cutting-edge cyber challenges. The company has a proven ability to win large-scale, prime contracts leveraging its deep technical and subject matter expertise. Similar to the mission and values of Avantus, ORT’s business model excels by attracting, retaining and investing in world-class, highly cleared talent who thrive in partnering with clients to solve their toughest National Security challenges.

“For more than 10 years, Occam’s Razor Technologies has built a company committed to developing innovative solutions for its clients. We work with extreme focus to partner and merge with companies like ORT, who deliver innovation creatively to the Nation’s highest-impact missions,” said Andy Maner, Chief Executive Officer at Avantus. “ORT’s mix of elite cyber and software capabilities and its dedication to employee growth are just two of the many reasons this company is a great fit with Avantus’ capabilities and offerings and will fuel combined growth at our shared and new customers.”

Michael Nordfelt, founder and President of Occam’s Razor Technologies, added, “We are very excited to join forces with Avantus. We will continue to provide highly differentiated cyber and software offerings to our government clients and grow with the Avantus enterprise. Our organizations collectively focus on growth, mission-focused values, investing in employees and committing to diversity and inclusion. Tapping into both of our organizations’ expertise will allow us to empower our eminence and achieve mission success.”

ORT joins the Avantus Enterprise built on mission impact and technology enablement. Its cyber expertise and technologies will infuse new capabilities into Avantus’ growing capabilities and service offerings.

KippsDeSanto and Covington & Burling LLP served as advisor and legal counsel, respectively to Occam’s Razor Technologies. Blank Rome LLP served as counsel to Avantus.

About Avantus Federal

Avantus Federal, a NewSpring Holdings company, is a mission-focused services and solutions company headquartered in McLean, VA. Drawing upon its heritage companies’ histories of consistent growth and high performance in the federal services market, Avantus ensures eminence is earned, sustained and grown.

Avantus’ services and solutions are designed, tailored, and executed based on our long history of helping our Homeland Security, Defense, Intelligence, and Federal Civilian customers solve complex challenges. Visit Avantus Federal at www.avantusfederal.com.

About NewSpring Holdings

NewSpring Holdings, the dedicated, diversified holding company within NewSpring with a strategy focused on control buyouts and platform builds, brings a wealth of knowledge, experience, and resources to take profitable, growing companies to the next level through acquisitions and proven organic methodologies. Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages over $2.0 billion across four distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries. Visit NewSpring at www.newspringcapital.com.

leappoint

KippsDeSanto & Co. Advises LeapPoint on its sale to Renovus Capital Partners

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KippsDeSanto & Co. Advises LeapPoint on its sale to Renovus Capital Partners

KippsDeSanto & Co. is pleased to announce the sale of its client, LeapPoint (“LeapPoint” or the “Company”), to Renovus Capital Partners (“Renovus”).

Headquartered in Reston, VA, LeapPoint is a leading digital consulting firm that delivers cloud application solutions to drive enterprise change and unlock tangible and quantifiable value for its customers to satisfy the increasing demand for integrating cloud applications in the marketplace.  The Company’s customers include Fortune 500 and blue-chip commercial customers across the finance, healthcare, and consumer goods verticals as well as select government agencies.

Leveraging intimate understanding of complex system interoperability and symbiotic partnerships with innovative technology firms, LeapPoint helps customers develop and implement formalized roadmaps to optimize enterprise efficiency and eliminate challenges associated with siloed functional areas (e.g., IT, marketing, finance, and HR) operating on myriad systems.

LeapPoint’s partnership with Renovus will enable the Company to fuel its end-to-end connected work approach for various technology implementations to become a leading provider for consolidating and connecting cloud applications across the enterprise.

We believe this transaction highlights several key trends in the digitial consulting M&A market:

  • Significant market demand for highly-skilled employees and in-demand capabilities focused on technology and integrating cloud applications
  • Continued demand for innovative companies that are poised to capitalize on key market growth drivers (i.e., digital acceleration, marketing technology rationalization, and hyper-personalization at scale)
  • Private equity continues its appetite to deploy capital through new platform investments, particularly for companies with strong management teams / highly-skilled employees and differentiated technological capabilities in growing markets

About KippsDeSanto & Co. KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency.

Press Release

Renovus Capital Partners Announces Strategic Acquisition of Leading Digital Consulting Firm, LeapPoint

RESTON, Va. and WAYNE, Pa., July 21, 2021 /PRNewswire/ — Renovus Capital Partners (“Renovus”), a Philadelphia-area private equity firm, announced today that it has acquired LeapPoint, LLC (“LeapPoint”), the industry-leading digital consulting firm specializing in connecting work, technology, and talent to drive unparalleled business experiences and outcomes.

Recognized by Forbes and Vault as a top consulting firm four years in a row, the acquisition follows a period of record-setting growth for LeapPoint as it continues to drive digital transformation for some of the world’s largest companies. As both an Adobe Gold partner and Workfront partner of the year, Adobe’s acquisition of Workfront maximized LeapPoint’s ability to deliver deeper and broader solutions to clients across finance, healthcare, and retail.

“During and post COVID, the importance of connected digital solutions to improve customer and employee experiences is greater than ever,” said Jesse Serventi, Founding Partner at Renovus. “LeapPoint’s innovative approach to connected digital experiences is transforming the biggest companies in the world. Under our partnership, we plan to help LeapPoint scale even faster to a larger set of enterprise clients.”

“This is an exciting and pivotal time for LeapPoint employees, clients and the customers they serve,” said LeapPoint CEO Nicholas DeBenedetto. “Renovus shares our people-first mindset and we are excited to work with them to bring rocket fuel to our end-to-end Connected Work breadth of services for Adobe, Adobe Workfront and other technology implementations. Together, we align to create a driving force and disruptor in the marketplace.”

LeapPoint’s multidisciplinary team of consultants consists of former industry practitioners across vertical markets committed to delivering a human-centered approach to unlocking how people and systems come together. The LeapPoint executive leadership team will remain unchanged and CEO Nicholas DeBenedetto will hold a seat on the Board of Directors.

KippsDeSanto & Co. served as the sell-side advisor to LeapPoint. DLA Piper served as legal counsel and Cherry Bekaert as accounting advisor to Renovus.

About LeapPoint

LeapPoint Consulting is changing the way companies connect work, technology, and talent to solve big business challenges and drive successful outcomes. Established by Big 4 alumni who sought more flexibility and agility in meeting clients’ most critical business needs, LeapPoint is committed to making life and experiences fundamentally better for employees, customers and those they serve. As the go-to Adobe and Adobe Workfront partner in financial services, healthcare and retail, LeapPoint’s break-through Connected Work™ services are the essential framework for the Future of Work. For more information, visit www.leappoint.com. To learn more about LeapPoint and its Connected Work services, download LeapPoint’s Connected Work ebook.

About Renovus

Founded in 2010, Renovus Capital Partners is a private equity firm specializing in the Knowledge and Talent industries. Renovus, based in the Philadelphia area, manages $1 Billion across several investment vehicles. The firm’s current portfolio includes over 20 U.S. based businesses specializing in educational technology and content, higher education, corporate learning and development, healthcare services and technology services. Renovus typically partners with founder led businesses, leveraging its industry expertise and access to debt and equity capital to make operational improvements, pursue tuck-in acquisitions and oversee strategic growth initiatives. More information can be found at www.renovuscapital.com

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KippsDeSanto & Co. Advises Whitney, Bradley & Brown, Inc., A portfolio company of H.I.G. Capital, on its Sale to Serco

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KippsDeSanto & Co. Advises Whitney, Bradley & Brown, Inc., a portfolio company of H.I.G. Capital, on its Sale to Serco

KippsDeSanto & Co. is pleased to announce the sale of Whitney, Bradley & Brown, Inc. (“WBB” or the “Company”), a portfolio company of H.I.G. Capital, to Serco Inc.

Founded in 1981, WBB is a premier provider of next generation, mission-enabling capabilities for the Department of Defense, Federal Civilian and healthcare customers. WBB has a long history of modernizing, transforming, and sustaining major mission-centric platforms, programs, and organizations through data-driven knowledge-based solutions.

WBB has an entrenched position on numerous programs of record where it partners with clients to strategize, implement, and deliver a wide range of mission-oriented competencies from program and mission management to capabilities development and advanced analytics and machine learning.  Over a thousand employees, many of whom are highly certified, cleared, and technically experienced, deliver a differentiated offering combining deep subject matter expertise, full-lifecycle capabilities, and advanced analytics to drive innovation and national superiority across multi-operational domains.

We believe this acquisition demonstrates several key trends in the defense and government technology M&A environment:

  • Strong interest and demand for players with Full and Open, large scale, mission critical contracts and vehicles with substantial ceiling value, such as OASIS and RS3;
  • Focus on companies that have embedded positions within sought-after federal customers, and programs of record; and
  • Industry-leading domain expertise and tech-enabled, data-driven solutions, particularly in high priority, well-funded markets like artificial intelligence (AI), machine learning, data analytics and cybersecurity, are critical differentiators for sellers in a crowded M&A market

 About KippsDeSanto & Co.

KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency.

Press Release

H.I.G. Announces the Sale of WBB

MIAMI – April 26, 2021 – H.I.G. Capital (“H.I.G.”), a leading global alternative investment firm with $44 billion of equity capital under management, announced today the sale of its portfolio company, Whitney, Bradley & Brown, Inc. (“WBB” or the “Company”), to Serco Inc. (“Serco”) for $295 million.

WBB transforms, modernizes, and sustains major mission-centric defense and intelligence platforms that are critical to maintaining national security superiority. Through data-driven, knowledge-based solutions, WBB provides program management, advanced engineering and analytical support to the U.S. Department of Defense and other federal agencies.

H.I.G. acquired WBB in October 2017 as part of the firm’s government services investment initiative. During H.I.G.’s ownership, H.I.G. invested alongside management in organic growth initiatives and completed two strategic and transformative acquisitions. These investments created new capabilities and provided access to new customers, markets and contract vehicles that enhanced growth, doubled revenue and tripled EBITDA during H.I.G.’s ownership.

Robert Olsen, WBB’s CEO, said, “We appreciate H.I.G.’s strategic guidance and commitment to the WBB platform over the last three years. They were a truly value-added partner and as a result of their involvement, WBB is better positioned to capitalize on the exciting growth opportunities ahead. We look forward to this next chapter working with Serco as we continue to serve as an integral partner to the Department of Defense and other federal agencies.”

Jeff Zanarini, Managing Director at H.I.G. Capital, commented, “It has been a pleasure working with Robert Olsen and the entire WBB team. The success of this transaction for WBB management, H.I.G., and its investors is a direct result of a near-perfect execution on the growth plan we devised together from the onset of our relationship. We expect WBB to continue setting new standards of excellence for our nation’s most critical priorities, working with the newly-expanded Serco leadership team.”

About WBB

WBB transforms, modernizes, and sustains major mission-centric defense and intelligence platforms that are critical to maintaining our nation’s defense and national security superiority. Through data-driven, knowledge-based solutions, WBB provides program management and consulting services to the U.S. Department of Defense and other federal agencies.

WBB has supported the federal government for almost four decades on mission critical programs and has developed deep domain expertise within critical capabilities including systems engineering, lifecycle logistics, cybersecurity, data analytics and machine learning to deliver innovative solutions to complex problems for the U.S. Department of Defense and other federal agencies.

WBB’s highly-specialized and experienced workforce provides services across the full lifecycle from program development to ongoing support and mission performance. The company has approximately 1,000 employees, the majority of which are veterans and greater than 75% possess security clearances. Headquartered in Reston, Virginia, WBB is an ISO 9001-registered company operating at over a dozen strategically-located facilities across the United States and abroad. For more information, please visit https://wbbinc.com/ .

About H.I.G. Capital

H.I.G. is a leading global private equity and alternative assets investment firm with $44 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Rio de Janeiro and São Paulo, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused/ value-added approach:

  1. I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.
  2. I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.
  3. I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com .

* Based on total capital commitments managed by H.I.G. Capital and affiliates.

the goal

KippsDeSanto & Co. Advises The Goal, Inc. on its sale to Motion Recruitment Partners, a portfolio company of Littlejohn & Co.

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KippsDeSanto & Co. Advises The Goal, Inc. on its sale to Motion Recruitment Partners, a portfolio company of Littlejohn & Co.

KippsDeSanto & Co. is pleased to announce the sale of its client, The Goal, Inc. (“The Goal” or the “Company”) to Motion Recruitment Partners, LLC (“Motion”), a portfolio company of Littlejohn & Co.

Headquartered in Reston, VA, The Goal is a leading technology talent and consulting provider that specializes in in-demand IT modernization capabilities for marquee clients in the public and private sector.

Leveraging its differentiated business model and strategic teaming partner approach, The Goal has been able to attract and retain scarce, highly-skilled technologists in the areas of application development, cloud enablement and DevOps, cybersecurity, and data management in support of long-term government contracts, commercial engagements, and other complex IT modernization programs. As an embedded partner and teammate, The Goal is well-positioned to expand its footprint within several high-growth, existing clients and capture significant new business opportunities with emerging clients in need of scalable talent solutions for complex IT modernization programs.

The acquisition adds The Goal’s expansive Federal IT consulting business to Motion Recruitment Partners’ existing company portfolio.

We believe this transaction demonstrates several key trends in the Federal and commercial technology talent and consulting market:

  • Significant market demand for highly skilled employees and in-demand capabilities focused on technology, application, infrastructure, and operation modernization creates highly attractive acquisition opportunities;
  • Buyers continue to place significant value on firms with key Federal market presence, entrenched customer relationships, and long-term contractual engagements to augment existing client portfolio, scale, and accelerate growth; and
  • Private equity continues to deploy capital in the technology talent and consulting market, building differentiated middle market platforms through buy and build strategies

About KippsDeSanto & Co. KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity, and industry experience.  We help market leaders realize their full strategic value.  Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships.  There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Securities and investment banking products and services are offered through KippsDeSanto & Co., a non-banking subsidiary of Capital One, N.A., a wholly owned subsidiary of Capital One Financial Corporation. KippsDeSanto & Co. is a member of FINRA and SIPC. Products or services are Not FDIC Insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured By Any Federal Governmental Agency.

Press Release

Motion Recruitment Partners Expands Portfolio into Federal Tech Consulting with Acquisition of The Goal

BOSTON, March 4, 2021 /PRNewswire/ — Motion Recruitment Partners LLC (parent company to North American IT Staffing & Managed Solutions provider Motion Recruitment and Global Recruitment Process Outsourcing – RPO and Managed Services Programs – MSP provider Sevenstep) announced today that it has acquired The Goal, a nationwide leader in Technology Consulting and valued Teaming Partner to Federal clientele within the Healthcare, Civilian, and Defense sectors.

The Goal brings an additional and highly complementary set of talent solutions to the MRP portfolio of companies and will continue to operate with their current brand, leadership, staff, and structures. With this new partnership and in-house expertise, the Motion Recruitment business looks to further grow its own IT Managed Solutions consultative practice within the Commercial sector and Sevenstep will be increasing its focus on identifying RPO and MSP opportunities in the Federal space.

“The Goal’s leadership team has an incredible reputation and has built a truly impressive business. They will be taking us on an exciting new journey into Tech Consulting within the massive Federal marketplace,” said Beth Gilfeather, CEO of Motion Recruitment Partners, LLC. “With a strong focus on tech talent markets such as SAAS, Cloud, Cybersecurity, and Digital Transformation, The Goal is well positioned for the future as we see significant growth in all of these areas.”

“The timing could not have been better. The Goal is in a heavy growth phase with several new large-scale wins and the inevitability of the marketplace surge this year. We feel we have the exact right partner to help us scale in Motion with their extensive and proven organic growth story,” said Mark Simons, CEO & Founder of The Goal. “Most importantly we wanted a cultural match, and we are pleased to have found the Motion team, which shares our core values and beliefs.”

About Motion Recruitment Partners
Established in 1989, Motion Recruitment Partners LLC is parent company to a group of leading global talent solution providers. Motion Recruitment provides IT Staffing & Managed Solutions across North America for Contract and Direct Hire needs as well as organizes the ‘Tech in Motion’ tech networking and award series. Sevenstep provides Recruitment Process Outsourcing (RPO), Managed Service Provider (MSP), Talent Data Analytics, and Employment Branding solutions to large scale employers across the globe.

About The Goal
Established in 2002, The Goal is a North American leader in Tech Consulting and IT Teaming Partnerships within the Healthcare, Civilian, and Defense sectors of the Federal marketplace. Specializing in complex mission-critical projects, The Goal’s demonstrated areas of expertise include: SAAS, Cloud, Cybersecurity, Digital Transformation, and IT Modernization.

For more information, visit:
www.motionrecruitment.com
www.sevensteprpo.com
www.thegoalinc.com

milennium engineering

KippsDeSanto & Co. Advises Millennium Engineering and Integration Company on its Merger with QuantiTech LLC, a Portfolio Company of Sagewind Capital LLC

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KippsDeSanto & Co. Advises Millennium Engineering and Integration Company on its Merger with QuantiTech LLC, a Portfolio Company of Sagewind Capital LLC

KippsDeSanto & Co. is pleased to announce the merger of its client, Millennium Engineering and Integration Company (“MEI” or the “Company”), with QuantiTech LLC, a portfolio company of Sagewind Capital LLC.

Headquartered in Arlington, Virginia, MEI provides advanced systems engineering and integration solutions for federal, space, defense, and intelligence agencies. For more than 20 years, MEI has supported vital space / space resiliency, missile, aircraft, cyber, and ground-based programs.

The combination with MEI strengthens QuantiTech’s capabilities in the missile defense, space, and intelligence markets and solidifies the combined company’s position as a leading defense and space engineering and integration platform.

We believe this transaction highlights several key trends in the defense and government technology mergers and acquisitions (“M&A”) market:

  • There remains strong buyer demand for advanced engineering capabilities and access to large scale, well-funded space and defense programs
  • Buyers continue to value franchise positions within high-priority mission areas, including missile defense, space, cybersecurity, and intelligence
  • Financial sponsor interest remains elevated for well-positioned defense and government assets, particularly considering ongoing pandemic-related market uncertainty
  • Favorable market dynamics have expanded the group of well-capitalized buyers in the sector, from private equity and foreign companies to SPACs, providing sellers today with a plethora of options when considering strategic liquidity events

KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products or services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency.

Press Release

QuantiTech LLC Announces Merger with Millennium Engineering and Integration Company

HUNTSVILLE, Ala., Feb. 10, 2021 /PRNewswire/ — QuantiTech LLC (“QuantiTech”), a portfolio company of Sagewind Capital LLC (“Sagewind”), announced today that it has merged with Millennium Engineering and Integration Company (“MEI”). The combined company is an industry leader in providing engineering services and solutions for mission critical programs within key U.S. defense and civilian agencies. Financial terms of the transaction were not announced.

QuantiTech and MEI have independently developed world-class systems engineering and integration capabilities across a wide range of markets, including space, counter unmanned aircraft systems, hypersonics, defense, cyber, intelligence, aviation, and missile defense.  Both companies are trusted partners and solution providers to the U.S. Government and commercial industry solving engineering challenges on the nation’s most vital defense and civilian programs.

Patrick Murphy, who served as President and Chief Executive Officer of MEI and is an industry veteran with over 20 years of government contracting leadership experience, will serve as President and Chief Executive Officer of the combined company. Randy Cash, who served as Executive Chairman of QuantiTech, and was previously its President and CEO, will continue to serve as Executive Chairman of the Board.  Other members of the management teams and employees of both companies will continue with the combined company.

“We are extremely excited to combine MEI and QuantiTech,” said Randy Cash. “This combination brings together two companies with an extraordinary depth of talent and expertise in high-end engineering.  By strengthening our capabilities in the missile defense, space, and intel markets, we will be even better positioned to continue serving the important missions of the U.S. Government.”

“Together QuantiTech and MEI will have the agility and responsiveness at scale to rapidly adapt to the changing needs of our customers’ missions and the marketplace,” added Patrick Murphy.  “With over 2,000 employees across more than 20 locations in the US, our capacity and ability to support our current and future US Government and commercial clients is greater than ever.”

“As part of our growth plan, QuantiTech has been looking for a partner with shared values and a similar company culture that allows us to increase the scale and depth of service offerings we provide to our customers and the market,” said Darryl Wortman, President and CEO of QuantiTech.  “We are excited about joining forces with MEI and building upon our enhanced culture of innovation to drive dynamic solutions to our customers’ complex challenges.”

KippsDeSanto & Co. served as financial advisor and Miles & Stockbridge served as legal advisor to MEI on this transaction. RBC Capital Markets LLC served as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP served as legal advisor to QuantiTech.

About MEI

Millennium Engineering and Integration Company provides world-class systems engineering and integration capability in the space, defense, cyber, intelligence, and aviation. MEI is a high-end engineering services provider to the U.S. Government and commercial industry solving engineering challenges on the Nation’s most vital programs in space/space resiliency, missiles, aircraft, cyber, and ground systems. For more information please visit www.meicompany.com.

About QuantiTech

QuantiTech is a leading provider of highly technical engineering services to the Army, Air Force, NASA, and various other key defense agencies responsible for maintaining technological superiority. Its capabilities are focused on systems engineering, cybersecurity, test & evaluation and program management for key defense end-markets such as hypersonics, counter unmanned aircraft systems, and human spaceflight. QuantiTech was founded in 1991 and is headquartered in Huntsville, AL. For more information please visit www.quantitech.com.

About Sagewind Capital

Sagewind Capital LLC is a New York-based middle-market private equity firm that partners with exceptional management teams, and focuses on significant capital appreciation by helping businesses grow organically and through strategic acquisitions. Sagewind invests across several industries, including government services, aerospace & defense, software, information technology, healthcare and business services. The firm is focused on long-term capital appreciation and has the flexibility to own businesses for extended periods. For more information please visit www.sagewindcapital.com.

alethix

KippsDeSanto & Co. Advises Alethix, LLC on its sale to IntelliBridge, Inc., a portfolio company of Enlightenment Capital

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KippsDeSanto & Co. Advises Alethix, LLC on its sale to IntelliBridge, Inc., a portfolio company of Enlightenment Capital

KippsDeSanto & Co. is pleased to announce the sale of its client, Alethix, LLC (“Alethix” or the “Company”), to IntelliBridge, Inc., a portfolio company of Enlightenment Capital

Headquartered in Fairfax, VA, Alethix provides mission-focused technology solutions that solve complex challenges around the speed and security of data-in-transit, interoperability of enterprise systems, and data processing at scale for a wide range of Homeland Security, Federal-Civilian, and Defense customers.

Since its founding in 2012, Alethix has built enduring relationships across the Department of Homeland Security (“DHS”) and Department of Defense (“DoD”), and has more recently established strong presences at various Federal-Civilian agencies, such as the U.S. Department of Agriculture (“USDA”), the National Oceanic and Atmospheric Administration (“NOAA”), and the U.S. Census Bureau.

The Alethix acquisition is expected to enhance IntelliBridge’s position across National Security and Federal-Civilian agencies. IntelliBridge will also be able to deliver in-demand, next generation capabilities to these customers through Alethix’s cloud, data analytics, and digital solution expertise.

We believe this transaction demonstrates several key trends in the government services mergers and acquisitions (“M&A”) market:

  • In-demand capabilities that can address Cloud, DevSecOps, Agile, and other next generation requirements continue to generate acquisition interest from strategic buyers as a means of accelerating growth and maintaining a brand of market leadership
  • Buyers continue to value franchise positions at key Federal customers at the forefront of digital transformation
  • For premium, well-positioned assets, M&A appetite remains steady despite the broader market impact of COVID-19 and its corresponding challenges

About KippsDeSanto & Co.

KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency.

Press Release 

 IntelliBridge Acquires IT Transformation Company Alethix

McLean, Va. – February 1, 2021 — IntelliBridge Inc. (“IntelliBridge”), a leading provider of technology, intelligence, and mission support services to defense, federal law enforcement, and civilian agencies, today announced the acquisition of Alethix LLC (“Alethix”). The addition of Alethix will strengthen IntelliBridge’s technology portfolio with advanced DevSecOps and Cloud solutions, as well as expand its footprint across Homeland Security, Federal-Civilian, and Defense agencies. IntelliBridge is backed by Enlightenment Capital.

Founded in 2012, Alethix solves complex technology challenges around data-in-transit, enterprise systems interoperability, and data processing at scale for national security, defense and civilian agencies. Alethix enables its DHS (i.e., USCIS, CBP, TSA), USDA, NOAA, Census, and DoD customers to innovate and accelerate their missions using the power of cloud, data analytics, and digital solutions.

Cass Panciocco, IntelliBridge President and CEO, said, “Alethix’s team of trusted technology experts bolsters our position in the digital solutions marketplace, which will allow us to bring agile, repeatable, and scalable solutions to our current and prospective customers. This combination will create instant synergies for both our customers and employees. We are excited to welcome the entire Alethix team to the IntelliBridge family.”

“Alethix is a trusted partner in providing high-end and transformative IT solutions for the critical mission needs of national security and civilian agencies,” added IntelliBridge Chief Growth Officer Matthew Candy. “Together, we are better positioned to navigate the IT marketplace and capitalize on the Government’s increasing adoption of digital solutions. Through IntelliBridge’s strategic positions within Defense, Federal Law Enforcement, Homeland Security, and Civilian customers, we have the size, scale, and reach-back to further expand organically through additional solutions and contracting options.”

“Alethix is excited to join the IntelliBridge team, which has built deep technical and operational capabilities that will only make our solutions more impactful. IntelliBridge shares our commitment to both employees and customers’ missions, making this an ideal platform,” said Ganesh Patil, COO of Alethix. “Our cultures are dedicated to excellence in delivering high-quality solutions, and we are proud to bring our team of technology experts to market with IntelliBridge and continue to deliver on solving complex mission challenges.”

Investment bank KippsDeSanto acted as the financial advisor to Alethix for this acquisition.

About IntelliBridge

IntelliBridge is a premier partner to defense, federal law enforcement, and civilian agency customers who helps solve complex technology, intelligence, and mission support challenges. Headquartered in McLean, Virginia, with locations and staff nationwide, IntelliBridge makes its customers successful by delivering best-in-class solutions through a combination of deep domain expertise, advanced technology, and passion for the mission.  IntelliBridge is a portfolio company of Enlightenment Capital. To learn more or join the team, visit www.intellibridge.us.

 About Enlightenment Capital

Enlightenment Capital, a Washington, DC area based private investment firm, provides flexible capital and strategic support to middle-market companies in the Aerospace, Defense & Government (ADG) sector. The firm partners with businesses that provide vital services, protect critical infrastructure, innovate cyber and data solutions, enhance decision making capabilities, engineer aerospace systems, safeguard national security, and endeavor to meet the challenges of today and tomorrow. For more information, visit www.enlightenment-cap.com.

KippsDeSanto & Co. Advised HHB Systems on its sale to Vectrus, Inc.

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KippsDeSanto & Co. Advised HHB Systems on its sale to Vectrus, Inc.

KippsDeSanto & Co. is pleased to announce the sale of its client, HHB Systems (“HHB” or the “Company”), to Vectrus, Inc. (“Vectrus”).
Based in Springfield, VA, HHB is a leading provider of information systems technology, enterprise operations, facilities management, and technical assistance to Federal customers across the Intelligence Community.

The Company has developed a highly regarded reputation and long-standing relationship with various Intelligence Community agencies by leveraging its capabilities and extensive subject matter expertise around unique mission critical programs. HHB’s strong past performance has led to expanded work under its existing contract vehicles and has positioned the Company for continued growth.

The acquisition of HHB will augment Vectrus’ position as a leader in the converged infrastructure market. Additionally, HHB expands Vectrus’ integrated capabilities and broadens its reach within the Intelligence Community.

We believe this transaction highlights several key trends in the government and technology solutions M&A market:

  • Continued demand for access to prime, full and open awards as a channel to drive growth
  • Deep domain and subject matter expertise, particularly when coupled with long-term relationships, are critical investment considerations
  • Emphasis on operational synergies and complementary solutions to enhance and build upon existing capability sets

 About KippsDeSanto & Co.

KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency.

Press Release

Vectrus Acquires HHB Systems, Advancing Physical and Digital Infrastructure Technologies within the Intelligence Community

– Further expands reach into the Intelligence Community as a Converged Infrastructure Provider
– Enhances Capabilities in Facility Engineering, Design, and Planning, as well as Asset Management & Logistics
– Bolsters Information Technology, Network Communications Services, and Operational Technologies Competencies and Solutions

COLORADO SPRINGS, Colo., Jan. 4, 2021 /PRNewswire/ — Vectrus, Inc. (NYSE: VEC) announced today that it has acquired HHB Systems, a leading provider of high-end solutions for facilities management, logistics, engineering, enterprise operations, and asset management solutions supporting Intelligence Community (IC) projects. Additionally, HHB provides information technology and cybersecurity solutions to select clients.

Founded in 2003, HHB Systems brings comprehensive and proven capabilities which advance Vectrus’ ability to deliver innovative, integrated solutions and further differentiates the company as a leader in the converged infrastructure market.

“The acquisition of HHB brings integrated solutions that support physical and digital infrastructures within the intelligence community and creates a stronger platform from which we can deliver fully converged solutions across all our clients’ missions,” said Sue Deagle, Senior Vice President and Chief Growth Officer of Vectrus. “I am delighted to welcome the talented employees of HHB to Vectrus. We look forward to building upon the HHB team’s past performance, reputation, and long-standing and trusted relationships in the Intelligence Community.”

Headquartered in Springfield, Virginia, HHB Systems has a 17-plus-year history of providing technology-enabled services and solutions to the Intelligence Community. The company has more than 50 highly skilled employees, 95% of which are cleared at Top Secret or above.

“Importantly, the acquisition of HHB further builds on our recently announced acquisition of Zenetex and together these acquisitions advance Vectrus’ transformation into a higher-value, technology-enabled and differentiated platform. The Zenetex and HHB teams work together in the Intelligence Community market today, and the expanded opportunities under Vectrus to reach our existing DoD and IC clients open the aperture to even greater growth,” Ms. Deagle concluded.

Vectrus funded the acquisition from cash on hand and its revolving line of credit.

About Vectrus

Vectrus is a leading provider of global service solutions with a history in the services market that dates back more than 70 years. The company provides facility and base operations; supply chain and logistics services; information technology mission support; and engineering and digital technology services primarily to U.S. government customers around the world. Vectrus is differentiated by operational excellence, superior program performance, a history of long-term customer relationships and a strong commitment to its clients’ mission success. Vectrus is headquartered in Colorado Springs, Colo., and includes about 7,100 employees spanning 148 locations in 26 countries and territories. In 2019, Vectrus generated sales of $1.4 billion. For more information, visit the company’s website at www.vectrus.com or connect with Vectrus on Facebook, Twitter, and LinkedIn