Salient Federal Solutions on Tuesday said it has completed its acquisition with CRGT Inc., which the two firms billed as a “merger of equals,” to go forward as Salient CRGT, a federal IT services company with $375 million in annual sales.
Terms of the deal were not disclosed. The private equity firms Bridge Growth Partners, LLC, and Frontenac Co. are backing the combined company, which has more than 1,700 employees.
The new company has a broader customer base across the federal government and access to more contract vehicles, including Alliant, Encore, NIH CIO-SP3, DHS Eagle II, and Treasury TIPSS-4. Some of the company’s customers include the Departments of Defense and Homeland Security, the intelligence community, and a number of other federal civilian departments and agencies. Salient CRGT also has more capabilities.
“Together, we bring a more robust set of capabilities, and have greater overall experience with and depth of knowledge in technologies that matter most to our customers,” Brad Antle, the president and CEO of Salient Federal and now CEO of Salient CRGT, said in a statement. “Our experience in agile software development, data analytics, cyber and mobility, position Salient CRGT for the growing needs in our market, and we look forward to working together as a powerful force in the market, leveraging our expertise to deliver a broader portfolio of innovative solutions across the entire federal IT market.”
The company also has capabilities in C4 engineering, infrastructure, and mission specific training.
Tom Ferrando, who was president and CEO of CRGT, will be president of Salient CRGT. Kevin Parker of Bridge Growth Partners will be chairman.
Bridge Growth’s financial advisers on the deal were Evercore and Credit Suisse. Frontenac’s advisers were Wells Fargo Securities and Houlihan Lokey.