Iron Bow hits mark with management buyout
Leaders of former Apptis affiliate acquire controlling interest
Iron Bow Technologies LLC has become a privately owned entity now that President and CEO Rene LaVigne and other senior executives have acquired a controlling interest in the company through a management buyout, according to an announcement released Sept. 6.
Iron Bow previously was owned by Apptis Inc., but in April, majority owner New Mountain Capital sold Apptis to URS Corp. for approximately $260 million in cash.
The sale did not include Apptis’ Iron Bow subsidiary, which continued to operate as an independent provider of IT security, data center, collaboration, network infrastructure and client computing to the defense, civilian, intelligence and commercial markets.
"This is a great day for Iron Bow as we were able to deliver outstanding value to all our stakeholders as a result of our committed vision, execution of strategy, and operational performance during the last few years," LaVigne said in the announcement.
"New Mountain has been a great partner over the years in supporting and building our business, and I'm excited to have their continued support going forward," he added.
New Mountain will retain a minority interest in Iron Bow, which will not experience any organizational changes as a result of the transaction, the announcement states.
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David Hubler is senior editor of Washington Technology. Follow him on Twitter: @DavidHubler.