By Light acquires Phacil nearly two years after the latter became a full employee-owned company.
Systems integrator By Light Professional IT Services said Monday it has acquired government technology services contractor Phacil to add more cybersecurity and managed services offerings for federal agencies.
Terms of the transaction were undisclosed. This is Arlington, Virginia-based By Light’s second acquisition since the company was acquired itself by private equity firm Sagewind Capital two years ago. By Light acquired Axom Technologies last year.
For Phacil, the deal comes nearly two years after it transitioned to an employee stock ownership plan after management explored several transaction strategies for itself.
The founders sold their stake in the Arlington-based company to an ESOP plan and the company then became a full employee-owned company. Phacil had 800 employees and $140 million in annual revenue at the time.
Investment bank The McLean Group advised Phacil on both its shift to being an ESOP and now sale to By Light.
Phacil is also headquartered in Arlington and some of its main federal customers include the Defense and Homeland Security departments, General Services Administration and National Science Foundation.
The company specializes in IT modernization, cloud implementation and data migration work among other service areas.
NEXT STORY: Who made the biggest deals of 2018?