Daniel S. Olmes
Chief Operating Officer, Xcelerate Solutions
When Daniel S. Olmes joined Xcelerate in June 2021, the business was facing the difficulty of coming out of COVID.
“We were at a historic low in terms of revenue and had a major deal under protest,” Olmes said. “Over the next year and half, we nearly doubled the size of the business, and on December 22, 2022, we sold to private equity group McNally Capital out of Chicago. This was a significant achievement in terms of revenue growth as well as preparing the business for sale, going through the public auction process, and transitioning the business to new ownership.”
McNally Capital invested in the company as a platform business through which it could drive significant growth ⏤ organic and inorganic.
“Halfway through 2023, we identified a strategic merger that we closed on Feb. 2, 2024,” Olmes said. “This more than tripled the size of the company from a revenue standpoint, and we now sit at $150 million in annual revenues (up) from $27 million in 2021. This was a significant achievement.”
But Olmes said his most significant achievement is yet to come: fully integrating the recent acquisition and continuing to grow toward a $500 million company within 3-5 years.
“We have the partners, and the management team in place to accomplish this goal,” he said. “I have full confidence in our team and our strategic partner in McNally Capital that we will achieve this goal.”
Mark Drever, CEO of Xcelerate Solutions, commented on Olmes’ leadership.
“I’ve known Danny a long time. I can honestly say that he is one of the most selfless leaders I know,” Drever said. “He’s been an integral part of our success and growth as a business. Most importantly, he has put that success and the support of our people way before his own interests. He is the ultimate team player and I’m grateful to have a partner and friend like Danny.”
Why Watch
In 2024, Olmes and his team are heavily focused on service offerings and organic growth. They understand the criticality of continuing to build the business and grow organically while at the same time looking for ways to augment the business through acquisition. It’s important to achieve needle moving wins in the near future to continue the strong momentum, Olmes said.
“I believe success is not well defined these days. It’s not about money or status or influence,” he said. “To me, success is the way you experience your life, and that is mainly a choice we make every day. We can’t always control our circumstances, but we do have a significant influence on how we experience them. What is the point of an outwardly successful life, if it comes at the expense of positive and loving experience? It’s in the latter that we can all be successful. And it’s far more important to be loved than it is to be feared.”
Fun fact: A native of Northern Virginia, Olmes grew up in Reston, Virginia, and currently lives in Herndon, Virginia, with his wife and 12-year-old twins. Olmes is a published author, as his first book “Memoirs of an Ordinary Guy ⏤ The Everyday Experiences that Changed My Life,” was published by Post Hill Press on Jan. 24, 2023. He is also in the process of starting a public speaking career in addition to additional writing projects. Additionally, Olmes is a huge physics geek, avid reader, non-alcohol drinker of 18 years, and lifelong runner and fitness person. He has completed three marathons and two ultra distance races. “You learn a lot about yourself when you spend a significant amount of time alone on the road,” he said.