Markon Expands With Strategic Addition of Leverage Information Technologies

Deal News | Dec 06, 2024 | Sterling Investment Partners L

Markon, a federal government focused consulting firm, has welcomed Leverage Information Technologies (LIT) to its fold, enabling a stronger employee-centered culture and enhanced technological expertise. Supported by Sterling Investment Partners, Markon's acquisition of LIT, a Virginia-based consultancy, will boost Markon by nearly 40 team members. The integration promises enhanced opportunities for collaboration, career growth, and mission impact, aligning with Markon's strategic values. Ray Carney, Markon's CEO, emphasized the alignment of both firms' values on mission excellence and team member well-being. LIT's CEO, Paul Sjoberg, echoed the sentiment, highlighting the shared commitment to a people-first approach and a joint vision for supporting vital national missions. Financial advisory for the merger was provided by Cohn Reznick LLP, with legal counsel from Morrison & Foerster LLP, Dechert LLP, and Seyfarth Shaw LLP. This strategic move is regarded as transformative for Markon, as expressed by Drew Thompson, Chief Corporate Development Officer at Markon.

Sectors

  • Federal Government Services
  • Information Technology Consulting
  • Private Equity

Geography

  • United States – Both Markon and LIT primarily operate in the United States, serving various federal government clients.
  • Virginia – Leverage Information Technologies is a Virginia-based company, making this state a key geographic focus of the acquisition.

Industry

  • Federal Government Services – The article focuses on Markon and LIT, both of which serve federal government agencies, providing vital services and solutions.
  • Information Technology Consulting – Leverage Information Technologies is primarily involved in IT consulting, supporting digital transformation for federal government clients.
  • Private Equity – Sterling Investment Partners, a private equity firm, backs Markon, facilitating the strategic acquisition of LIT.

Financials

    Participants

    NameRoleTypeDescription
    Markon SolutionsTarget CompanyCompanyA national consulting firm with a focus on federal government services and technology solutions.
    Leverage Information TechnologiesSelling CompanyCompanyA consultancy specialized in software engineering and IT for federal government needs.
    Sterling Investment PartnersPrivate Equity FirmCompanyA private equity firm backing Markon, known for building middle-market companies.
    Ray CarneyCEO of MarkonPersonChief Executive Officer at Markon, emphasizing the alignment of values with LIT.
    Paul SjobergCEO of LITPersonChief Executive Officer at Leverage Information Technologies, stressing a people-first culture.
    Drew ThompsonChief Corporate Development Officer of MarkonPersonResponsible for corporate development and integration at Markon.
    Cohn Reznick LLPFinancial AdvisoryCompanyProvided financial advisory services for the Markon-LIT integration.
    Morrison & Foerster LLPLegal Counsel to MarkonCompanyProvided legal services for Markon in the acquisition of LIT.
    Dechert LLPLegal Counsel to MarkonCompanyAssisted Markon with legal counsel in its acquisition endeavors.
    Seyfarth Shaw LLPLegal Counsel to MarkonCompanyOne of the legal advisors to Markon during the acquisition.
    Peloton GroupAdvisory Services to LITCompanyProvided advisory services to LIT for the acquisition.
    Reston LawLegal Counsel to LITCompanyLegal advisory firm for LIT during the process.