Led and founded by CEO Mehul Sanghani, Octo has provided solutions to government health care, national security, civilian and defense agencies for more than 13 years. The company specializes in emerging technologies like agile software development, user interface and user experience, cloud and blockchain; and helps agencies modernize legacy systems.
“Octo’s best-in-class software development capabilities, quality of customer relationships, and distinguished employee base present a highly attractive strategic investment opportunity for Arlington,” said Michael Lustbader, a managing partner at Arlington Capital Partners. “We look forward to supporting Mehul and the entire management team through the Company’s next phase of growth as it builds on its exceptional track record solving the government’s most difficult challenges through innovation.”
Sanghani said the company’s growth has opened doors to many acquisition alternatives, but partnering with Arlington Capital Partners allowed Octo to hold onto its brand and legacy.
“We’ve had the unique privilege of continuing to establish Octo as one of the government market’s pre-eminent growth and next generation IT brands,” he said. “Our strategic partnership with Arlington Capital not only establishes and cements the firm’s leadership team, it also provides the core capital needed to invest in human capital and technology to continue our growth.”
Shah, who previously served as executive vice president of Octo’s health business unit, has been lifted to COO, replacing Robert McCord who was president and COO since 2015. McCord said he was taking time off to be with family, and Octo is in great hands with Shah.
“I am excited to be taking on this new role,” Shah said. “Having been at Octo for 11 years, I have seen us go through all the inflection points as we matured into a large business, and I am confident in our ability to build on the successes we have achieved already.”
And in connection with the recent investment, Octo recruited Rothka. Prior to her new position, Rothka served as CFO of Buchanan & Edwards since 2015, and has held financial leadership positions at Whitney, Bradley & Brown, Hewlett-Packard and Lockheed Martin.
Sanghani will remain a substantial shareholder in Octo and the senior management team has made significant investments as part of the recapitalization, and will continue to lead growth initiatives, the company said.