Prince William County, VA – September 12, 2019 – Prince William County Department of Economic Development congratulates Sev1Tech, a leading provider in IT modernization, cybersecurity and cloud services on its successful completion of the acquisition of Engineering Solutions and Products (ESP).
The acquisition of ESP is part of Sev1Tech’s growth strategy that has now doubled its portfolio of service offerings and expanded its Woodbridge-based headquarters geographical footprint into more than 38 U.S. states and international locations.
“Enhancing Sev1Tech’s Enterprise Core IT capabilities with ESP’s long legacy of C4ISR and tactical field experience will allow us to offer a broader range of modernization services to our DHS and DOD customers,” says Bob Lohfeld, CEO of Sev1Tech. “As part of our mid-tier strategy, this transaction provides Sev1Tech with unique field and tactical capabilities. We are excited to demonstrate our commitment to customer service and introduce our enhanced IT capabilities to the U.S. Army.”
“We are delighted to congratulate Sev1Tech in the successful acquisition of ESP, a well-established and recognized company that will grow the business, services and brand reputation and most importantly increase highly skilled jobs in Prince William County,” said Christina Winn, Executive Director, Prince William County Department of Economic Development. “We are passionate about supporting our businesses’ success and providing a climate for growth.”
Sev1Tech has experienced steady growth over the past 10 years by focusing on providing IT modernization, cybersecurity, engineering, and program optimization support to the Department of Homeland Security, Department of Defense, Federal agencies as well as commercial customers. ESP’s portfolio integration now includes C4ISR-focused solutions supporting the U.S. Army’s vital warfare priorities in the areas of systems engineering and integration, logistics and supply chain management, mission and program support, training and readiness. As well as ensuring ESP’s legacy as one of the top-performing contractors on the Responsive Strategic Sourcing for Services (RS3) vehicle.
“We have a great team of experts dedicated to supporting our customer’s missions and a proven ability to deliver results,” said Doug Fouser, former ESP CEO. “We are confident that this acquisition will ensure the continued success of our business moving forward. Sev1Tech’s corporate culture, variety of service offerings, and emphasis on providing excellent customer service provides the ESP team with the right blend of growth and opportunity for the future.”
Houlihan Lokey served as the exclusive financial advisor to ESP and Sev1Tech is backed by DFW Capital and recently added private equity firm, Enlightenment Capital. “DFW Capital and I are so excited to have Enlightenment Capital as part of the Sev1Tech team,” added Lohfeld. “They bring additional depth and knowledge in our space as well as a track record of building the best mid-tier company in the marketplace.”
About Sev1Tech
Powered by DFW Capital, Sev1Tech provides IT modernization, cybersecurity, cloud, program management services and solutions to U.S. government agencies and major commercial organizations. Founded in 2010 and headquartered in Greater Washington, Sev1Tech is a preferred and trusted advisor supporting critical missions across the defense, intelligence, homeland security, space, and health markets. Sev1Tech delivers excellence through highly qualified people, CMMI SVC 3, ISO 9001, ISO 20000, ISO 27001 and ISO 27017 certified processes, and cutting-edge technology. To learn more, visit www.sev1tech.com
About the Prince William County Department of Economic Development
The Prince William County Department of Economic Development offers services to support and promote existing business expansion and attract new businesses to PWC. For more information, the Department of Economic Development can be reached via email at econdev@pwcgov.org, via phone at (703) 792-5500, or via fax at (703) 792-5502. Learn more about the Department at pwcecondev.org.
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Media Contact
Trevor Johnson, Marketing and Communications Director
Prince William County, Virginia
Department of Economic Development
703-201-9162
tjohnson@pwcgov.org