Trowbridge & Trowbridge, LLC has been purchased by Washington, D.C.-based investment firm Enlightenment Capital, a move that will help the company continue growing and support its transition to a larger business.
Trowbridge’s management team will remain as is under the terms of purchase, but Chief Operating Officer Cass Panciocco has become president and CEO of Trowbridge.
“Enlightenment is our ideal investment partner, as they understand the sector and share our vision to create a platform for service delivery excellence as we transition to the mid-tier,” Panciocco said. “This partnership strengthens Trowbridge’s capacity to pursue strategic growth initiatives and to invest in new capabilities required by our customers.”
Founder Karen Trowbridge will continue to support the company as a strategic adviser and serve on the board of directors. She said the Trowbridge management team was receptive to Enlightenment Capital’s financial backing so the company can grow and explore future acquisitions.
“Additionally, by making Trowbridge a platform, the Enlightenment team provided us the ability to maintain our culture and mission delivery focus which we have built over the last 12 years,” she said
Jason Rigoli, partner at Enlightenment Capital, said the firm intends to leverage the investment to add new services and enhance Trowbridge’s mission capabilities.
“Moving forward, the partnership will enable Trowbridge to continue delivering innovative next generation services to the Government sector and to position the company more effectively for larger projects in the full and open market both organically and through M&A,” he said.