Federal information technology services provider Sev1Tech on Thursday said it has acquired Engineering Solutions and Products (ESP), which provides a range of technology services, in particular to the Army.
Terms of the deal were not disclosed.
Sev1Tech said the acquisition more than doubles its size, provide it access to new customers, and expands its geographic footprint.
ESP, which is based in Northern Virginia, is primarily focused on supporting the Army in the areas of systems engineering and integration, logistics and supply chain management, mission and program support, training and readiness, and IT and cyber security. One of the company’s key contracting vehicles for supporting the Army is the Responsive Strategic Sources for Services.
Sev1Tech, which is also based in Northern Virginia, provides IT modernization, cyber security, engineering and program optimization support to the Department of Homeland Security, Defense Department, other federal agencies and commercial customers.
“Enhancing Sev1Tech’s enterprise core IT capabilities with ESP’s long legacy of C4ISR and tactical field experience will allow us to offer a broader range of modernization services to our DHS and DoD customers,” Bob Lohfeld, CEO of Sev1Tech, said in a statement. “As part of our mid-tier strategy, this transaction provides Sev1Tech with unique fielding and tactical capabilities.”
ESP’s financial adviser on the deal was Houlihan Lokey. Sev1Tech is a portfolio company of DFW Capital Partners. It also receives financial backing from Enlightenment Capital.
