DRC sells components unit to concentrate on fed sector
Division was classified as discontinued operation for financial reporting purposes
- By David Hubler
- Jul 22, 2010
Dynamics Research Corp. has sold its Metrigraphics Division to private equity firms Clarkston Merchant Partners LLC and New England Capital Partners.
Financial terms of the transaction, which took effect July 19, were not reported.
The division, which was classified as a discontinued operation for financial reporting purposes as of Dec. 31, 2009, will continue operating as an independent company, Metrigraphics, LLC, according to a DRC announcement released today.
The transaction enables DRC, a provider of management consulting, engineering and technology solutions to federal and state governments, to have a 100 percent focus on its government business, the statement said.
The sale also gives Metrigraphics the investment backing to further penetrate its market opportunities as a worldwide supplier of ultra-high, precision, custom components for original equipment manufacturers.
Paul Strasser, former chief operating officer at Pragmatics Inc., joined DRC, of Andover, Mass., in April as senior vice president of strategic development. He is responsible for new business growth strategies to expand DRC’s presence in the federal sector, including the Homeland Security and Defense departments.
David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.