Sale to On Assignment, Inc.

Technology & Services
Sale to On Assignment, Inc.

Summary

Baird served as co-advisor to ECS Federal, LLC on this transaction

About

ECS Federal, LLC (“ECS” or the “Company”), owned by majority owner and founder Roy Kapani and Lindsay Goldberg, a private investment firm, has agreed to be acquired by On Assignment, Inc. (“On Assignment”) (NYSE: ASGN) for $775 million. The transaction is subject to various regulatory approvals and customary closing conditions and is expected to close on April 2, 2018.

On Assignment’s acquisition of ECS is indicative of the continued robust Government Services merger and acquisition (“M&A”) market, which has benefited from strong industry dynamics and broader capital market trends. This transaction further illustrates recurring themes in Government Services M&A including buyers seeking companies of scale; a focus on differentiated, NextGen IT capabilities; access to strategic contract vehicles and highly sought after customers in the national security space; and new commercial entrants in the Government Services market.

ECS, one of the largest privately-held government services contractors, delivers cyber security, cloud, DevOps, IT modernization and advanced science and engineering solutions to government enterprises. ECS designs, implements and operationalizes security capabilities for some of the most highly-targeted government customers in the world. The Company maintains partnerships with the world’s leading cyber and cloud technology organizations. ECS is headquartered in Fairfax, Virginia.

Lindsay Goldberg is a private investment firm that focuses on partnering with families, founders, and long-term oriented management teams seeking to actively grow and build their businesses. Lindsay Goldberg is headquartered in New York, New York.

On Assignment is one of the foremost providers of IT and professional services in the technology, creative / digital, engineering and life sciences sectors. Through an integrated suite of professional staffing and IT solutions, On Assignment improves productivity and utilization among leading corporate enterprises. On Assignment operates a network of over 150 branch offices across the United States, Canada, Ireland and Europe. On Assignment is headquartered in Calabasas, California.
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Technology & Services
Sale to On Assignment, Inc.
Date
January 2018
Company
ECS Federal, LLC
Transaction
M&A
Sectors
Technology & Services
Target Location
North America
Acquiror Location
North America

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