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Thursday, Apr 25, 2024

ASGN Buyouts a Path to Future

Asgn Inc. made two major acquisitions this year that expanded the company’s capabilities to serve federal government agencies and in digital innovation to enterprise clients. Together, the deals represented expenditures of $111 million. In January, the Calabasas staffing and information technology company completed the acquisition of DHA Group Inc. for $46 million in cash. In October, the firm paid $67 million in cash for Intersys Consulting LLC. DHA was folded into Asgn’s subsidiary ECS Federal LLC in Fairfax, Va., while Intersys was made part of the Apex Systems division in Glen Allen, Va. DHA, in Washington, D.C., supports the FBI and other federal agencies in the Justice Department, Commerce Department and Pentagon with technical, management and consulting services. Last year the company brought in about $50 million in revenue, an amount expected to grow about 20 percent this year. Peter Dameris, who was chief executive at the time of the deal, said the acquisition was attractive in further deepening ECS’s long-term relationships with customers in homeland security, law enforcement, defense and intelligence agencies. $1 billion goal “We intend to grow ECS to over $1 billion in revenues on or before 2021 through strong internal growth and targeted acquisitions, which meet specific profile requirements, complement our current service offerings and enhance our value proposition to our clients,” Dameris said in a statement. ECS President George Wilson said that the division was committed to the FBI’s success and excited to continue providing solutions and broader expertise to DHA’s existing customers and partner companies. “We are also eager to offer expanded career opportunities to DHA’s talented employees as part of ECS’ performance culture,” Wilson said in a statement. Dameris resigned in April from Asgn saying at the time it was for family reasons related to the health of his son. In June, however, the company terminated Dameris as he was investigated in connection with the college admissions scandal, according to a filing with the Securities and Exchange Commission. Theodore Hanson, who had been president of the company, took over as chief executive. He called the acquisition of Intersys, in Austin, Texas, an important step in Asgn’s growth plan to deliver increased value to both customers and shareholders. “Intersys’ industry expertise combined with its deep focus on developing longstanding customer relationships, fits well with Asgn’s own mission to provide high-end technology services to accounts in each of the end markets we serve,” Hanson said in a statement. As part of the Apex division, Intersys benefits from access to a broader talent pool to address some of the most critical challenges in the digital and enterprise ecosystems. Apex benefits by having Intersys provide subject matter expertise to its growing pipeline of work focused on cloud services, data science and digital product development. Since the deal closed, Intersys has been renamed the Apex Solutions Group. Jeff Schmalbach, chief solutions officer for Apex Solutions and former chief executive of Intersys, said the deal will allow the company to market its capabilities to a larger group of customers and bring new services to the clients it serves.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

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