Acquisition Solutions makes a deal of its own

Originally posted at 4:35PM March 17; updated at 11:28AM March 18

(UPDATED) Acquisition Solutions Inc. has sold an ownership stake in the company to a Denver-based private equity firm.

Terms of the deal with Excellere Partners were not disclosed.

The infusion of cash will let Acquisition Solutions pursue what it is calling a "multidimensional growth strategy," which will include making acquisitions.

The acquisitions likely will come out of organizational conflicts of interest that are arising more frequently in the government market, said Tim Long, chief development officer at Acquisition Solutions.

"Reconciling those conflicts of interest is becoming increasingly difficult," he said.

Often these conflicts of interest arise when one company acquires another and the acquired company has a piece of business providing contract management support to a customer that has a contract with the company making the acquisition.

For example, the bulk of MTC Technologies Inc. is being acquired by BAE Systems Inc., but to smooth the way for its acquisition, NCI Information Systems Inc. has stepped in to buy the part of MTC that works under the Army Program Executive Office Soldier, Project Manager Soldier Warrior and Project Manager Soldier Equipment contract. For BAE to keep that contract would represent a organizational conflict of interest with other work BAE holds.

Because of Acquisition Solutions' strategy in the government market it doesn't foresee creating its own conflicts of interest as it makes acquisitions, Long said.

"We aren't going to go after downstream work," he said. "We are more than happy to just provide acquisition support."

With the investment from Excellere Partners, the company plans to expand its consulting services to cover the entire government acquisition life cycle and increase the company's geographic footprint beyond the Washington, D.C., area.

"Sixty-five percent of the government's obligated funds are spent outside the D.C. area," Long said. "We are expanding to support them as well."

The management team led by Anne Reed, company president and chief executive officer, will remain in place. The founding partners, Chip Mather, Ann Costello and Bob Welch, will continue to actively participate in the business.

The acquisition is the only investment Excellere has in the government market.

About the Author

Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.

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