Rockville, MD, February 5, 2003/PRNewswire/Aronson Capital Partners, LLC, merger and acquisition advisors to the federal information technology and professional services industry, announced today that it completed the sale of Remtech Services, Inc. to SCB Computer Technology, Inc. This transaction reflects a recent trend of information technology companies utilizing acquisitions to gain a foothold in the federal contracting industry.
As one of the premiere solution providers to state and local governments, this strategic combination will provide SCB an immediate conduit into the federal market. Aronson Capital Partners initiated the transaction and acted as the financial advisor to RSI. "SCB represents a strategic partner who will provide the resources to help us take advantage of opportunities in our rapidly expanding IT outsourcing activities," remarked Douglas Lising, President of RSI. He further commented that "Aronson Capital was instrumental in helping us find a strategic buyer and making sure that our objectives were met without disruptions to our business."
Robert Rubin, Vice President of Aronson Capital Partners commented that, "This transaction provides further evidence that the competition among buyers for privately held companies competing in the federal marketplace remains intense." Additionally, he noted that Remtech's position in the growing federal IT outsourcing market made the company an attractive candidate for acquisition.
The price and terms of the acquisition have not been disclosed.
Aronson Capital Partners, LLC
Aronson Capital Partners, LLC ("ACP") is an investment bank which provides a full range of corporate finance services to federal and commercially focused information technology and professional service companies to assist them in achieving their growth and liquidity objectives. ACP has a proven track record of completing successful transactions with middle-market companies. Securities transactions are executed by Aronson Capital Advisors, LLC (member NASD-SIPC), an affiliate of ACP.
Remtech Services, Incorporated
Remtech Services, Inc. is a rapidly growing provider of information technology and technical services to a diverse group of defense and civilian agencies of the federal government. The Company provides full life cycle IT services to assist in the design, development, operation and maintenance of its clients' information technology infrastructure. RSI's four service areas are IT Systems Development, IT Systems Operations & Maintenance (O&M), Information Services, and Training support.