The Halifax Group has put an undisclosed amount of equity financing into acquisition, grants and professional services company XL Associates Inc. Terms of the deal were not released. Formed in 1989, XL Associates provides professional services to various federal agencies. The company is based in McLean, Va.
The Halifax Group (“Halifax”) announced a new partnership with the management of XL Associates, Inc., a global acquisition, grants and professional services company based in McLean, VA. Since its founding in 1989, XL has become an award-wining provider of professional services supporting a myriad of federal agencies.
Terms of the agreement were not disclosed. Founder and President Lloyd Mustin, II will continue to serve as President and CEO. Halifax and management provided the equity financing for the transaction.
“We are excited to have The Halifax Group as a value-added partner for growth. Halifax brings a wealth of business acumen as well as the resources to help us grow,” said Mr. Mustin. “We look forward to serving our customers as we have for the past 22 years. The success we have enjoyed can be attributed directly to the trust we have built with our customers by consistently exceeding expectations.”
Scott Plumridge, Principal at Halifax, noted, “Lloyd and his team have established themselves as a leading provider of government services solutions by staying at the forefront of the missions of its clients. Halifax is proud to be partnering with this management team, and to be affiliated with the important work that XL does on behalf of the United States government. We see strong growth opportunities in this sector, and we are thrilled to help this company achieve its strategic plan,” added Plumridge.
Founded in 1989, XL is a leading and award-winning government services provider focused on mission-critical global initiatives across a diverse range of federal agencies. XL’s core service offerings include acquisition life cycle support (“ALCS”), grants management (“GM”), and specialized program management (“SPM”). The ALCS and GM divisions assist federal government agencies in procuring goods and services by managing the planning, execution, and administration of the contracting and grants processes. The SPM division provides support in global stabilization operations and mission support planning through worldwide deployment on some of our country’s most important foreign policy and international humanitarian initiatives.
About The Halifax Group
The Halifax Group is a private equity firm that specializes in partnering with managers and entrepreneurs to recapitalize and grow lower middle-market businesses across a variety of industries including health and wellness, infrastructure, business and government services and franchising. The firm maintains offices in Washington, D.C.; Dallas, TX; and Raleigh, NC.