Arlington Capital acquires IAI, eyes combo with Xebec
- By Ross Wilkers
- Feb 15, 2018
Private equity firm Arlington Capital Partners has acquired defense and intelligence community IT contractor Integrity Applications Inc. and plans to subsequently combine IAI with fellow federal market portfolio company Xebec.
Terms of the acquisition of IAI were not disclosed. Its co-founders Paul Frommelt, Steven Wear and Kenneth Abelowe "participated in the recapitalization and will remain involved in IAI’s strategic growth initiatives in the future," Arlington Capital and IAI said Wednesday.
Founded in 1999, IAI provides engineering and software services to intelligence, civilian and defense customers with a focus on intelligence, surveillance and reconnaissance systems activities. The company is headquartered in Chantilly, Virginia, and has employees in at least eight other states.
Chevy Chase, Maryland-based Arlington Capital acquired Xebec in October of last year. Xebec provides human intelligence and IT services to agencies in the intelligence community.
Arlington Capital has managed $2.2 billion in assets across four investment funds. The firm closed its fourth and most recent fund in August 2016 at $700 million in total capital commitments.
Ross Wilkers is a senior staff writer for Washington Technology. He can be reached at email@example.com. Follow him on Twitter: @rosswilkers. Also connect with him on LinkedIn.