ASGN acquires DHA Group
ASGN Incorporated of Calabasas, CA announced on January 28 that it has completed the acquisition of DHA Group, Inc. (DHA) for $46 million in cash sourced from ASGN’s internally generated cash flows. DHA is a provider of mobility, cybersecurity, cloud and IT services to the Federal Bureau of Investigation (FBI) and other federal customers. DHA will become part of ASGN’s ECS Segment.
Founded in 1994, DHA has over 200 highly-cleared, technically-specialized employees committed to a range of national security missions. DHA’s services are delivered primarily through prime, full and open contracts. Its performance reputation in delivering technical support will strengthen ECS’ rapidly growing presence across cybersecurity and other operational domains in the national security and intelligence community. For 2018, DHA generated approximately $50 million in revenues and is expected to grow approximately 20 percent year-over-year in 2019 and generate an EBITDA margin of 8.0 to 9.0 percent.
Commenting on the acquisition, Peter Dameris, chief executive officer of ASGN said, “The DHA Group is an attractive acquisition for ECS and will help to further deepen ECS’ long-term relationship with strategic customers in homeland, law enforcement, defense and intelligence agencies. As we have previously announced, we intend to grow ECS to over $1 billion in revenues on or before 2021 through strong internal growth and targeted acquisitions, which meet specific profile requirements, complement our current service offerings and enhance our value proposition to our clients.”
“ECS is committed to the FBI’s success and is excited to continue providing superior solutions and broader expertise to DHA’s existing customers and teaming partner companies,” said George Wilson, president of ECS. “We are also eager to offer expanded career opportunities to DHA’s talented employees as part of ECS’ performance culture.”