Technical Services Corporation (TSC) on Monday said it has acquired Accelerated Development & Support Corporation and has renamed the company ADS Federal, which is focused on program support, information technology solutions, and expertise in science and technology research, development and integration.
Terms of the deal were not disclosed. ADS Federal has 120 employees and will retain TSC’s statuses as a service-disabled veteran-owned and Small Business Administration 8a small business.
A spokeswoman for ADS Federal said the purpose of the deal was to provide for deeper penetration of the federal market, in particular the Defense Department, and increase the scale of the business. The company also includes the Departments of State, Energy and Homeland Security, and others as customers.
Angel Diaz, who led TSC, is the CEO of ADS Federal.
Diaz said ADS’ “reputation and experience with the DoD customer is the perfect match for our veteran-heavy workforce. Together, we will work with our shared, current customers, and with new ones, to identify critical needs, operate quickly, effectively and efficiently, and work relentlessly in support of our customers’ missions.”
Live Oak Bank [LOB] provided financing for the deal and the mergers and acquisition advisory firm Genaesis, LLC provided advisory services.