Acentia Merges with Federal IT Provider 2020 Company
Acentia announced that it has acquired 2020 Company, LLC, a federal IT solutions provider at the forefront of transformational health IT and other projects across the public sector. The newly combined company, which will be known as Acentia, employs more than 1,200 employees.
2020’s Robert McCord will immediately assume the position of president and COO of Acentia. Todd Stottlemyer will continue as CEO.
Acentia is a provider of technology and management solutions that help customers across the federal government, health and commercial markets meet their mission-critical requirements on programs of national significance.
Snow Phipps Group LLC, a New York-based private equity firm is the principal investor in Acentia. Snow Phipps acquired a majority stake in a predecessor firm in 2009 as part of a strategy to build a leading company in the government technology services space.
In addition to Snow Phipps’ investment, the senior credit bank financing for the 2020 acquisition and a line of credit for future working capital needs are being provided by RBS Citizens as lead arranger, Citizens Bank as administrative agent, Bank of America, M&T Bank and SunTrust Bank.
For the past 11 years, 2020 has specialized in custom system maintenance, systems development and integration, technology infrastructure support, and a variety of business services, including program/project management, business process support, and mission support services. 2020 is a CMMI Level 3 and an ISO 9001:2008 organization that has invested heavily in creating a process-driven, success-oriented organization focused on achieving its customers’ goals.
“The addition of 2020 extends Acentia’s reach with the services and expertise to pursue and execute more and even larger opportunities on programs of national significance,” said Stottlemyer. “This merger aligns with the goals we stated publicly last year when we re-branded the company, specifically, that we would look to grow Acentia in order to provide expanded capabilities to our customers. It represents a significant win for both companies’ employees and customers.”