Sev1Tech has acquired Engineering Solutions and Products, a provider of C4ISR-focused solutions supporting the U.S. Army’s vital warfare priorities. No financial terms were disclosed. Houlihan Lokey was financial adviser to ESP on the transaction. Sev1Tech is backed by DFW Capital and Enlightenment Capital.
WOODBRIDGE, Va., Sept. 5, 2019 /PRNewswire/ — Sev1Tech, a leading provider in IT modernization, cybersecurity, and cloud services announced today it has successfully completed the acquisition of Engineering Solutions and Products (ESP). ESP is a premiere provider of C4ISR-focused solutions supporting the U.S. Army’s vital warfare priorities. The acquisition of ESP will allow Sev1Tech to expand its portfolio of services offerings, engage with new Federal agencies and commercial customers, and extend its geographical footprint to more than 38 U.S. states and international locations.
Founded in 2000, ESP has focused their mission on supporting the U.S. Army in the areas of systems engineering and integration, logistics ad supply chain management, mission and program support, training and readiness, as well as information technology and cybersecurity. ESP has experienced overwhelming success in supporting the U.S. Army as they are one of the top-performing contractors on the Responsive Strategic Sourcing for Services (RS3) vehicle.
Their corporate values of providing outstanding service to customers and focusing on employee satisfaction align directly with those of Sev1Tech.
Sev1Tech has experienced steady growth over the past 10 years by focusing on providing IT modernization, cybersecurity, engineering, and program optimization support to the Department of Homeland Security, Department of Defense, Federal agencies as well as commercial customers. The addition of ESP’s C4ISR services and Army-centric portfolio will more than double the current size of Sev1Tech and enable the company to significantly enhance its presence supporting the U.S. Army’s missions. “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,” says Bob Lohfeld, CEO of Sev1Tech. “As part of our mid-tier strategy, this transaction provides Sev1Tech with unique fielding and tactical capabilities. We are excited to demonstrate our commitment to customer service and introduced our enhanced IT capabilities for the U.S. Army.”
“We have a great team of experts dedicated to supporting our customer’s missions and a proven ability to deliver results,” said Doug Fouser, former ESP CEO. “We are confident that this acquisition will ensure the continued success of our business moving forward. Sev1Tech’s corporate culture, variety of service offerings, and emphasis on providing excellent customer service provides the ESP team with the right blend of growth and opportunity for the future.”
Houlihan Lokey served as the exclusive financial advisor to ESP and Sev1Tech is backed by DFW Capital and recently added private equity firm, Enlightenment Capital. “DFW Capital and I are so excited to have Enlightenment Capital as part of the Sev1Tech team,” says Bob Lohfeld, CEO of Sev1Tech. “They bring additional depth and knowledge in our space as well as a track record of building the best mid-tier company in the marketplace.”
Powered by DFW Capital, Sev1Tech provides IT modernization, cybersecurity, cloud, and program management services and solutions to U.S. government agencies and major commercial organizations. Founded in 2010 and headquartered in the Washington D.C. metro area, Sev1Tech is a preferred and trusted advisor supporting critical missions across the defense, intelligence, homeland security, space, and health markets. Sev1Tech delivers excellence through highly qualified people, CMMI SVC 3, ISO 9001, ISO 20000, ISO 27017 and ISO 27001 certified processes, and cutting-edge technology. To learn more, visit www.sev1tech.com.