Robbins-Gioia agrees to be acquired by PE firm
- By Ross Wilkers
- Aug 05, 2019
Robbins-Gioia was the subject of a complex transaction two years ago that included the return of a former CEO and is now going through another deal to chart its next course of growth.
Alexandria, Virginia-based RG said Monday it has agreed to be acquired by Acorn Growth Companies, a private equity firm focused on middle-tier companies in the government market. Terms of the transaction were not disclosed.
Founded in 1980, RG provides systems modernization and program management services to federal agencies. Former CEO Brad King became chief executive of the Alexandria, Virginia-based company through a 2017 management-led buyout.
That transaction took place less than a year after RG's board of directors at the time fired King in 2016 over disagreements regarding the company's direction.
RG also is eyeing opportunities in technology transfer, production planning and control, IT management, enterprise architecture and business analysis work. Revenue stood at around $30 million for 2016, King told WT shortly after he rejoined as CEO.
This transaction comes nearly two months after Acorn Growth acquired Black Sage Technologies, a developer of tools to counter and defend against unmanned aerial systems. Black Sage’s customers are in the U.S. and international governments, plus other companies in the aerospace-and-defense sector.
Ross Wilkers is a senior staff writer for Washington Technology. He can be reached at firstname.lastname@example.org. Follow him on Twitter: @rosswilkers. Also find and connect with him on LinkedIn.