the goal

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

/in , /by

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

/in /by

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

/in /by

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.

/in /by

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

KippsDeSanto & Co. Advises Zenetex, LLC on its sale to Vectrus, Inc.

/in /by

KippsDeSanto & Co. advises Zenetex, LLC on its sale to Vectrus, Inc.

KippsDeSanto & Co. is pleased to announce the sale of its client, Zenetex, LLC (“Zenetex” or the “Company”), to Vectrus, Inc. (“Vectrus”) (NYSE: VEC).

Headquartered in Herndon, VA, Zenetex provides mission-focused lifecycle military aviation and advanced engineering and information technology (“IT”) solutions for military and national security clients.

Zenetex primarily supports Naval Air Systems Command (“NAVAIR”), various other U.S. Department of Defense (“DoD”) and Intelligence Community (“IC”) customers, and various foreign militaries, with embedded positions on enduring programs of record and various classified defense programs. The Company has extensive expertise spanning integrated logistics, advanced engineering, IT, research, development, test, and evaluation (“RDT&E”), security services, and full-spectrum maintenance, repair & overhaul (“MRO”) services. Since 2008, Zenetex has grown to ~2,000 employees with more than $200 million in annual revenue and $700 million of contracted backlog.

The Zenetex acquisition is expected to accelerate Vectrus’ converged infrastructure strategy through the addition of critical new capabilities, including high-end integrated logistics and MRO support services. The transaction will also broaden Vectrus’ presence within NAVAIR and the IC and add new Foreign Military Sales customers.

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

  • Strategic buyers are using M&A to accelerate organic growth strategies and add new capabilities and customers
  • Buyers continue to value prime, F&O contracts and backlog, along with infrastructure maturity and rapid growth
  • Despite the economic volatility created due to the COVID-19 pandemic, M&A demand remains strong for well-positioned companies

 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 to Acquire Zenetex, Accelerating Converged Infrastructure Strategy and Further Expanding Intelligence and Foreign Military Client Portfolio

  • Secures Vectrus as a leader in the converged infrastructure market by expanding integrated capabilities in Logistics and Supply Chain, Security, Advanced Engineering, IT, and International Readiness Solutions
  • Expands Vectrus content at client installations, facilities, and bases with the addition of mission-critical support services for vital defense aviation programs
  • Broadens reach into the Intelligence Community and adds new Foreign Military Sales clients
  • Increases backlog by more than $700 million and provides a foundation for continued growth
  • Expected to be accretive to 2021 Adjusted Diluted EPS and Adjusted EBITDA margin

COLORADO SPRINGS, Colo., Dec. 28, 2020 – Vectrus, Inc. (NYSE: VEC) announced today that it has signed a definitive agreement to acquire Zenetex, a leading provider of technical and strategic solutions focused on enabling mission readiness, performance, and enhanced protection for defense and national security clients globally. The acquisition adds critical new capabilities which will accelerate Vectrus’ converged infrastructure strategy and expands the company’s client base with new DoD, intelligence and foreign military clients. The transaction is valued at approximately $112 million, net of $11 million of expected tax benefits.

“I am excited to welcome the Zenetex employees to Vectrus,” said Chuck Prow, president and chief executive officer of Vectrus. “This important acquisition significantly enhances our capabilities across a number of high priority clients and accelerates our strategy to deliver a more integrated and comprehensive suite of solutions to our clients globally. Zenetex broadens our reach into the Intelligence Community and expands our engineering and digital technology offerings, which is critical as we expand our capabilities to help our clients’ transition to a more instrumented and converged approach to supply chain and facility management.”

Strategic Benefits and Transaction Highlights:

  • Strengthens Position as Leading Fully-Integrated Provider in the Converged Infrastructure Market: Brings integrated security capabilities that provide systematic protection of physical assets, IP, and computer systems, which further builds on Vectrus’ integrated electronic security solutions that protect thousands of facilities and assets.
  • Adds Higher End Integrated Logistics: Brings people, skills, knowledge, equipment, tools, and technical data to establish, execute and maintain logistics policies, processes and procedures, which builds on Vectrus’ forward-deployed operational logistics capabilities.
  • Expands Operations and Maintenance Services to Increase Content and Scope at Client Installations: Provides mission-critical readiness services for legacy and next generation aircraft through full spectrum Maintenance, Repair & Overhaul services that include “backshop” operations, lab systems, and weapon subsystems, which increases Vectrus’ overall addressable market and content at client installations, facilities, and bases.
  • Expands Intelligence and Federal Client Footprint: Provides unique access to highly attractive Intelligence Community clients and advances the company’s Navy campaign to include Naval Air Systems Command and Naval Supply Systems Command.
  • Adds Foreign Military Sales (FMS) Clients and Expertise: The company’s FMS services supports more than 40 countries, including Qatar, Malaysia, Spain, Morocco, Kuwait, Denmark, Australia, Canada, and provides significant channels for future growth. The company’s legacy and experience related to FMS has resulted in a recent award to provide an International Readiness Operational Software Management System, a prototype to improve readiness initiatives, accelerate product delivery, and optimize the reliability of operational and aviation readiness for foreign partners abroad.
  • Strong Backlog and Growth Outlook: Zenetex is at the front end of significant new business awards with over $700 million in contract backlog that provides strong revenue visibility and a foundation for continued growth.

Forward-Looking Safe Harbor Statement

“Zenetex and Vectrus make an extremely powerful combination and I couldn’t be happier with this next step in our team’s journey,” said Mark Green, chairman and chief executive officer of Zenetex. “Our culture, mission, vision, and values are strongly aligned and founded on delivering successful service in support of our clients’ critical missions. The Zenetex capabilities, client access, and high performing teams complement the existing portfolio at Vectrus and will add additional value to both company’s clients while serving new markets with the combined power of our people.”

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.

KippsDeSanto & Co. advises Tapestry Technologies, Inc. on its sale to ManTech International Corporation

/in /by

KippsDeSanto & Co. advises Tapestry Technologies, Inc. on its sale to ManTech International Corporation

KippsDeSanto & Co. is pleased to announce the sale of its client, Tapestry Technologies, Inc. (“Tapestry” or the “Company”) to ManTech International Corporation (“ManTech”) (Nasdaq: MANT).

Headquartered in Chambersburg, PA, Tapestry is a leading provider of comprehensive cybersecurity solutions to the U.S. Defense Information Systems Agency (“DISA”) and Department of Defense (“DoD”). Tapestry offers a wide array of highly innovative solutions spanning cybersecurity architecture, policy and compliance, network and systems engineering, workload automation, training, and cloud architecture services. With a 15+ year history supporting the DoD and DISA, Tapestry has developed a highly regarded reputation and an entrenched position within the agency as a trusted and reliable partner with deep domain expertise. The Company’s focus on innovation has led to the development of proprietary methodologies and tools which enable Tapestry to deliver highly profitable, yet cost-effective, workload automation solutions.

The transaction enhances and extends ManTech’s cyber defense capabilities within the DoD, adding customers and new past performance qualifications, as well as long-term contracts.

We believe this investment demonstrates several key trends in the current cybersecurity environment:

  • Cybersecurity capabilities continue to be a highly coveted growth and M&A area given the importance to IT Modernization efforts and increased budgetary focus
  • Significant demand for profitable, technology-centric, engineering solutions supported by proprietary tools and processes
  • Strong focus on companies that have embedded positions within sought-after federal customers, and strong competitive differentiators

 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 

ManTech Acquires Tapestry Technologies to Expand Defensive Cyber Capabilities

HERNDON, Va., Dec. 14, 2020 (GLOBE NEWSWIRE) — ManTech International Corporation (Nasdaq: MANT) has completed the acquisition of Tapestry Technologies, a leading provider of advanced cyber solutions. Headquartered in Chambersburg, Pennsylvania, and founded in 2005, Tapestry Technologies offers a full range of cyber defense solutions and expertise, including cyber architecture and policy development, DevSecOps-based systems and software engineering and cyber training.

This acquisition enhances and extends ManTech’s cyber defense capabilities within the Department of Defense, adding customers, new past performance qualifications as well as mission-critical contracts. Furthermore, Tapestry Technologies’ approximately 150 highly skilled and cleared professionals expand ManTech’s deep cybersecurity talent base.

“ManTech has a well-established reputation as a leader of full-spectrum cyber capabilities,” said Kevin M. Phillips, ManTech Chairman, CEO and President. “We are pleased to add Tapestry Technologies’ talented people and strong customer relationships to the ManTech family. The addition is highly complementary and further builds upon our differentiated cyber solutions, allowing us to deliver more to our customers while positioning us for continued growth.”

About ManTech

ManTech International Corporation (Nasdaq: MANT) provides mission-focused technology solutions and services for U.S. defense, intelligence and federal civilian agencies. In business more than 50 years, we excel in full-spectrum cyber operations, data collection & analytics, enterprise IT, agile DevOps systems engineering and software application development solutions that support national and homeland security. Additional information about ManTech can be found at mantech.com.

Forward-Looking Information

Statements and assumptions made in this press release, which do not address historical facts, constitute “forward-looking” statements that ManTech believes to be within the definition in the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties, many of which are outside of our control. Words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” or “estimate,” or the negative of these terms or words of similar import, are intended to identify forward-looking statements.

 These forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes we anticipate. Factors that could cause actual results to differ materially from the results we anticipate include, but are not limited to, the following: failure to maintain our relationship with the U.S. government, or compete effectively for contract awards; inability to recruit and retain sufficient number of employees with specialized skill sets or necessary security clearances who are in great demand and limited supply; adverse changes in U.S. government spending for programs we support, whether due to changing mission priorities, socio-economic policies, cost reduction initiatives by our customers, or other federal budget constraints generally; disruption of our business or damage to our reputation resulting from security breaches in customer systems, internal systems (including as a result of cyber or other security threats), or employee misconduct; failure to realize the full amount of our backlog or adverse changes in the timing of receipt of revenues under contracts included in backlog; issues relating to competing effectively for awards procured through the competitive bidding process; failure to obtain option awards, task orders or funding under contracts; renegotiation, modification or termination of our contracts, or failure to perform in conformity with contract terms or our expectations; failure to successfully integrate acquired companies or businesses into our operations or to realize any accretive or synergistic effects from such acquisitions; non-compliance with, or adverse changes in, complex U.S. government laws, procurement regulations or processes; and adverse results of U.S. government audits or other investigations of our government contracts. These and other risk factors are more fully discussed in the section entitled “Risk Factors” in ManTech’s Annual Report on Form 10-K previously filed with the Securities and Exchange Commission on Feb. 21, 2020, Item 1A of Part II of our Quarterly Reports on Form 10-Q, and, from time to time, in ManTech’s other filings with the Securities and Exchange Commission.

 The forward-looking statements included herein are only made as of the date of this press release, and ManTech undertakes no obligation to publicly update any of the forward-looking statements made herein, whether as a result of new information, subsequent events or circumstances, changes in expectations or otherwise.

Media Contact

Jim Crawford

Executive Director, External Communications

(M) 571.446.7550

James.Crawford2@ManTech.com

 

Investor Relations Contact

Stephen Vather

VP, M&A and Investor Relations

(O) 703.218.6093
Stephen.Vather@ManTech.com

KippsDeSanto & Co. Advises Titania Solutions Group, Inc. on its Sale to Swish Data Corporation

/in /by

KippsDeSanto & Co. Advises Titania Solutions Group, Inc. on its Sale to Swish Data Corporation

 KippsDeSanto & Co. is pleased to announce the sale of Titania Solutions Group, Inc. (“Titania” or the “Company”) to Swish Data Corporation.

Headquartered in Warrenton, VA, Titania has served as a leading provider of enterprise solutions, program management, information technology, and systems integration services for over eight years to high-profile Federal customers within the US Army, US Navy, Centers for Medicare & Medicaid Services (“CMS”), Federal Aviation Administration (“FAA”), and National Institutes of Health (“NIH”), amongst others.  The Company has positioned itself as a leading technology partner with established customer relationships, strong technical talent, and differentiated market knowledge serving as a trusted partner for its customers.  The Company boasts a substantial legacy providing mission-oriented military intelligence training on several substantial programs; thought leadership associated with rapidly evolving rules, policy, and laws related to public and civil operation of unmanned aircraft systems (“UAS”); and technical knowledge in critical applications of DevSecOps and Agile methodologies for government healthcare organizations.  Titania’s core capabilities and solutions are focused in the areas of cybersecurity, enterprise solutions, test and evaluation, program management support and data management, operational intelligence and training, healthcare information technology, and information technology governance, in each case with a unique perspective on delivering market-informed insights to key decision makers.

Titania’s impressive suite of engineering services capabilities is delivered by a team of subject matter experts with proven experience in uniform, government service, and leading engineering organizations.  This unique multi-faceted perspective and skillset is leveraged for the sole purpose of delivering excellent support to clients with complex and evolving challenges, often at the forefront of long-term market opportunities.  Combined with a robust portfolio of relevant contract vehicles, including SPARC, CIO SP3, eFAST, MOBIS, and SeaPort NxG, the Company is strongly positioned to continue its growth trajectory as part of its new partnership with Swish Data Corporation.

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

  • Continued demand for thought leadership and subject matter expertise in the areas of enterprise solutions, engineering expertise, and program management to solve complex and long-term challenges for mission-critical programs within federal agencies
  • Buyer interest in acquiring organizations with a strong pedigree and deep domain knowledge in specialized areas of expertise supporting long-term and highly-visible programs
  • Buyer focus on strategic alignment with high-priority, forward-looking, and enduring mission areas (e.g., UAS policy and implementation within the FAA)

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

Swish Data Acquires Titania Solutions Group, Inc.

December 1, 2020

Expanding Swish’s capabilities into DevSecOps, the Intelligence Community and Unmanned Aerial Vehicles

MCLEAN, Va. – Today, Swish Data Corporation (Swish), a provider of technology solutions and engineering services, announced that the company has acquired Titania Solutions Group, Inc. (Titania) as part of an on-going five-year growth and expansion strategy.

Titania is a successful professional services firm with over 100 employees performing mission-critical services for the U.S. Army, FAA, HHS, DISA and other federal organizations. The acquisition of Titania expands Swish’s expertise to include DevSecOps services, intelligence training and operations, and drone and counter-drone activities within the public sector market. This acquisition also brings important technology capabilities, contract vehicles, and valuable customer relationships that further diversify Swish’s government contractor business.

During 2020, Swish continued its impressive organic growth, augmented by the acquisition of MAD Security LLC in 2019, and now by the acquisition of Titania. “This acquisition further diversifies Swish’s market reach and capabilities, with a company that has a proven track record of success and superior performance,” stated Monty Deel, chief executive officer for Swish.

Jodi Johnson, founder and former chief executive officer for Titania, commented, “I could not be more proud of the company we have built and I’m very happy to find a like-minded company in Swish that will continue to nurture our employees and create opportunities to excel, all the while providing valuable, mission-critical services to our country.”

Titania will be operated as an independent business subsidiary of Swish. John Hibbert, the previous chief operating officer for Titania, will serve as general manager. “It’s an honor to be joining forces with Swish,” John stated. “The combined team has substantially greater capabilities than either company has alone and will result in a compelling value proposition for our employees, customers, and partners. This is an exciting time for Titania.”

About Swish Data

Swish is a Service-Disabled Veteran-Owned and HUBZone-certified Small Business provider of technology solutions and engineering services to the U.S. Federal Government with a focus on high-quality outcomes for our clients. Our experienced and certified engineers research and evaluate the most innovative approaches to solving mission problems and developing full life cycle solution offerings to ensure our clients realize maximum operational value. Swish carries a Top Security facility clearance, and the cleared staff are skilled at delivering high-performance solutions and services. Swish ensures your digital service capabilities, performance and security exceed your expectations and requirements. www.swishdata.com.

Media Contact:
​Sherryl Dorch
​Phone:  703-407-4696
Email:  sdorch@swishdata.com

KippsDeSanto & Co. advises BlueWater Federal Solutions, Inc., on its sale to Tetra Tech, Inc.

/in , /by

KippsDeSanto & Co. advises BlueWater Federal Solutions, Inc., on its sale to Tetra Tech, Inc.

KippsDeSanto & Co. is pleased to announce the sale of its client, BlueWater Federal Solutions, Inc. (“BlueWater” or the “Company”) to Tetra Tech, Inc. (“Tetra Tech”).

Headquartered in Chantilly, Virginia, BlueWater provides cybersecurity, information technology, systems / network engineering, and program management services to numerous agencies throughout the Federal Government, including the Federal Emergency Management Agency, Department of Energy, and Department of Defense.

BlueWater provides these clients with a variety of high-end IT and mission-oriented services, systems, and solutions that are essential to these agencies’ operations. Over the past decade, the Company’s leadership team and workforce of highly skilled / certified employees have led BlueWater to achieve considerable growth. This growth has been supported by the Company’s ability to understand and address mission challenges while continuing to leverage its technical expertise as a means of expanding its customer footprint.

BlueWater provides Tetra Tech with significant past performance throughout the Federal Government, and is expected to drive continued success by way of leveraging Tetra Tech’s expansive portfolio of contract vehicles and customer reach. BlueWater represents Tetra Tech’s second acquisition of 2020.

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

  • Acquisition priority for companies with high-end technology and analytics capabilities, in addition to well funded DoD-oriented footprint
  • Buyers – public company and private equity firms alike – continue to deploy capital via M&A for well-positioned companies, notwithstanding COVID-19 and broader market turbulence
  • Strong company fundamentals in terms of prime contracts, scale, performance, and a track-record of growth drive M&A interest and value

 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

Tetra Tech Acquires BlueWater Federal Solutions to Broaden High-End Technology Service Offerings

09/29/2020

PASADENA, Calif.–(BUSINESS WIRE)– Tetra Tech, Inc. (NASDAQ: TTEK), a high-end consulting and engineering firm, announced today that it has further expanded its advanced analytics business with the addition of BlueWater Federal Solutions, Inc. (BlueWater), a leading information technology systems and services firm. Based in Chantilly, Virginia, BlueWater has built a high-performing team of more than 350 employees who bring specialized expertise in cybersecurity, mission-critical systems design, and development and operation of federal enterprise systems for U.S. government clients, including the Federal Emergency Management Agency, Department of Energy, and Department of Defense.

“Our ability to integrate high-end technology and analytics in the delivery of customized water, environment, and sustainable infrastructure solutions is a key differentiator for Tetra Tech in the marketplace today,” said Dan Batrack, Tetra Tech Chairman and CEO. “The addition of BlueWater builds on our strategy to grow our advanced analytics business with expanded capabilities in artificial intelligence, cybersecurity solutions, and mission-essential services for our U.S. federal customers.”

Brian Nault, BlueWater President, said, “Our team is thrilled to join Tetra Tech and work together to expand our capabilities and solutions that solve our clients’ most complex problems. By joining with Tetra Tech, BlueWater creates tremendous opportunities for our employees, expands our reach in the federal market through access to key contract vehicles, and increases the technical capacity and access to resources needed for us to deliver on our customers’ new and changing requirements.”

The terms of the acquisition were not disclosed. BlueWater is joining Tetra Tech’s Government Services Group.

About BlueWater Federal Solutions, Inc.

BlueWater is a leading mission support services provider of Enterprise IT solutions, cybersecurity, engineering, global command and control, and applications development. BlueWater, based in Chantilly, Virginia delivers full lifecycle solutions and modernization for U.S. federal agencies, including the Department of Defense and Intelligence.

About Tetra Tech

Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 20,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, infrastructure, resource management, energy, and international development. We are Leading with Science® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com, follow us on Twitter (@TetraTech), or like us on Facebook.

Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgment as to what may occur in the future. However, Tetra Tech’s actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions (“Future Factors”), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section “Risk Factors” included in the Company’s Form 10-K and 10-Q filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200929005255/en/

Jim Wu, Investor Relations
Charlie MacPherson, Media & Public Relations
(626) 470-2844

Source: Tetra Tech, Inc.

KippsDeSanto & Co. Advises Irving Burton Associates on its sale to DLH Corp

/in /by

KippsDeSanto & Co. Advises Irving Burton Associates on its sale to DLH Corp

KippsDeSanto & Co. is pleased to announce the sale of its client, Irving Burton Associates (“IBA” or the “Company”), to DLH Holdings Corp. (NASDAQ: DLHC) (“DLH”).
Founded in 1979 and based in Falls Church, VA, IBA is a leading provider of innovative healthcare research, services and solutions to the Defense Health Agency (“DHA”), the Telemedicine & Advanced Technology Research Center (“TATRC”) of the US Army’s Medical Research and Development Command (“USAMRDC”), and other health-focused agencies within the U.S. Department of Defense (“DoD”). IBA maintains a top-secret facility clearance, and its defense contracts provide for a range of health IT services including digital transformation, data analytics, cybersecurity, and artificial intelligence (“AI”).

We believe this transaction illustrates various trends in the government technology M&A environment:

  • Strong strategic buyer interest in well-positioned, targets providing high priority support to health-related Federal customers
  • Demand for companies with embedded positions and long-term relationships on key programs within well-funded customers
  • Buyers continue to place emphasis on targets with larger, prime, full and open contracts

 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

DLH Acquires IBA to Bolster its DoD Health Technology Capabilities

Atlanta, Georgia – October 1, 2020

DLH Holdings Corp. (NASDAQ: DLHC) (“DLH” or the “Company”), a leading provider of innovative healthcare research, services and solutions to the federal government, today announced that it has acquired privately-held Irving Burton Associates, LLC (“IBA”) of Falls Church, Virginia. The firm, with approximately 115 employees, provides research, systems development, and other technology-enabled solutions to the Defense Health Agency (“DHA”), the Telemedicine & Advanced Technology Research Center (“TATRC”) of the US Army’s Medical Research and Development Command (“USAMRDC”), and other agencies within the U.S. Department of Defense (“DoD”). IBA maintains a top-secret facility clearance, and its defense contracts provide for a range of health IT services including digital transformation, data analytics, cybersecurity, and artificial intelligence (“AI”).

IBA was purchased for $32.0 million in cash, or $26.5 million net of transaction-related tax benefits worth approximately $5.5 million on a net present value basis. DLH estimates that IBA will contribute annualized revenue of approximately $25 million to the Company going forward, and the firm’s backlog was approximately $143 million at closing. IBA will be a wholly owned subsidiary of DLH Holdings Corp. and a part of DLH’s Mission Services & Solutions operating unit led by Helene Fisher (former US Army Signal Corps). IBA’s current president, Mary Dowdall, will remain with DLH in leadership of the IBA organization.

“IBA complements our capabilities and enhances our readiness profile for military and other agency business through research, analytics, and advancing technologies,” said Zachary Parker, DLH President & CEO. “For several decades IBA has leveraged its expertise in program management, research and engineering, and health data analytics to expand its business in support of agencies in the Military Health System (MHS). We are confident that IBA will strengthen our growth outlook and bring new opportunities in technology-enabled healthcare solutions. I am proud to have IBA join the DLH family of operations.”

“We believe that DLH is an ideal partner for IBA, from both a business and cultural perspective” added Mary Dowdall, President of Irving Burton Associates. “Our employees will appreciate and embrace the collective spirit, shared objectives, and expanding opportunities that our combined organization will bring. We look forward to aligning our mutual commitment and mission-driven focus to deliver technology-enabled services to federal government agencies.”

DLH financed the acquisition through an amendment to its existing secured credit facility. Borrowing availability was provided by debt prepayments facilitated by the Company’s ongoing cash generation. First National Bank of Pennsylvania acted as agent, and F.N.B. Capital Markets and M&T Bank acted as joint lead arrangers. The credit facility was comprised of a syndicated term loan of $70 million and revolving credit facility of $25 million. All bank members of the syndicated credit facility committed funding to their original loan amounts. Additional terms of the transaction and financing arrangements will be available in the Company’s SEC filings.

KippsDeSanto & Co. Advises Enterprise Information Services, LLC on its sale to Cognosante, LLC

/in /by

KippsDeSanto & Co. Advises Enterprise Information Services, LLC on its sale to Cognosante, LLC

KippsDeSanto & Co. is pleased to announce the sale of its client, Enterprise Information Services, LLC (“EIS” or the “Company”), to Cognosante, LLC (“Cognosante”).

Founded in 1994 and based in Vienna, VA, EIS provides cybersecurity, biometrics, application development, cloud migration, and other IT services to various U.S. Federal Defense, Intelligence, and Civilian government agencies.

In addition to its in-demand services offering, EIS has amassed prime positions on numerous high-profile full-and-open contract vehicles, including Alliant II, Army RS3, and ITES-3S.

We believe this transaction illustrates various trends in the government technology M&A environment:

  • Despite COVID-19 related market impacts, M&A deals continue to transpire between well positioned buyers and sellers
  • Full and open, prime contract positions, particularly on Best-in-Class and other in-demand vehicles, such as Alliant II, RS3, and ITES-3S, remain strong M&A drivers
  • Buyers continue to place importance on targets with prime, full and open contracts and embedded positioning within well-funded Defense and Intelligence customers

 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

EIS is Now a Cognosante Company

Vienna, VA – May 18, 2020

Enterprise Information Services, LLC (EIS), an IT solutions company, today announced that it has been acquired by Cognosante.

Since 1994, EIS has provided cybersecurity, biometrics, application development, cloud migration, IT operations, network engineering and program management support to a host of federal government agencies including Defense, the Intelligence Community, Homeland Security, Energy, Commerce, Labor, State, and the United States Postal Service.

“This is an exciting time for both EIS and Cognosante. We are proud of the company and reputation we have built since 1994 and Cognosante is the ideal company to propel EIS to the next level. We share the same commitment in continuing to provide the high-quality customer experience to our clients and an engaging culture for our talented employees,” said Vinod Goyal, President of EIS.

“EIS is a highly respected, well-positioned business providing comprehensive, technology services to its customers.  The addition of EIS is part of Cognosante’s growth strategy that will continue to bring new and enhanced capabilities to our existing customers while entering new customer segments,” said Michele Kang, Founder and Chief Executive Officer of Cognosante.

Effective immediately, EIS becomes a wholly owned subsidiary of Cognosante. EIS founder and CEO, Vinod Goyal will report directly to Cognosante CEO, Michele Kang. To ensure minimal disruption to customers and employees, the EIS name will remain and all EIS leadership will continue to lead daily operations. KippsDeSanto acted as the exclusive financial advisor to EIS as part of this transaction.