Bridge Growth Partners today announced it has entered into a definitive agreement to acquire CRGT from an affiliate of Veritas Capital.

Terms of the transaction, which is expected to close by year end, were not disclosed. Wells Fargo and Stifel Nicolaus served as CRGT’s financial advisors in the transaction. Credit Suisse served as financial advisor to Bridge Growth and provided debt financing commitments in support of the transaction. GoldPoint Partners provided mezzanine debt financing and an equity co-investment. Willkie Farr & Gallagher served as legal advisor for Bridge Growth. Schulte Roth & Zabel served as legal advisor for Veritas and the CRGT.

Parker will serve as chairman of the board of directors of CRGT and will be joined on the board by Singh, Bridge Growth co-founder Sander Levy, and Veritas Capital Managing Partner Ramzi Musallam.

“My team and I are excited to partner with Bridge Growth to continue our focused growth strategy and further expand our presence within federal agencies,” said Tom Ferrando, president and CEO of CRGT. “We are confident that together we will enhance our status as a leading IT services provider and continue to serve our valued customers.”

“The federal IT services sector represents fertile ground for high value agile software development and data analytics, and CRGT provides an attractive growth platform given its existing customer relationships and strategic capabilities,” said Alok Singh, co-founder and managing principal of Bridge Growth Partners. “We look forward to bringing our experience and strong relationships in the sector to support Tom and the rest of the CRGT leadership team.”

Bridge Growth’s principals have a long history in the federal contracting sector. Bridge Growth co-founder and Managing Principal Kevin Parker previously served as chairman and CEO of Deltek, the preeminent enterprise software provider for professional services firms and government contractors based in Washington, DC. Alok Singh also served as Deltek’s lead director.

“We are grateful to Tom Ferrando and his team for what they have achieved thus far and we look forward to working with Alok, Kevin, Sander and the Bridge Growth team, along with management, to help take the company to the next level,” said Musallam. Veritas, which first acquired CRGT in 2008, will continue to hold a minority stake in CRGT following the close of the transaction.

CRGT is a full life-cycle IT services provider for the federal government.