Acentia announced this morning that it has acquired 2020 Company, LLC, a Federal health IT solutions provider. The newly combined company, which will be known as Acentia, employs more than 1,200 employees. 2020’s Robert McCord will immediately assume the position of President and COO of Acentia, while Todd Stottlemyer will continue as CEO.
“The addition of 2020 extends Acentia’s reach with the services and expertise to pursue and execute more and even larger opportunities on programs of national significance,” said Stottlemyer. “This merger aligns with the goals we stated publicly last year when we re-branded the company, specifically, that we would look to grow Acentia in order to provide expanded capabilities to our customers. It represents a significant win for both companies’ employees and customers.”
Acentia will combine its technology and management solutions efforts with 2020’s with consulting and outsourcing services to help customers across the Federal government, health, defense, civilian and other commercial markets.
Clients should see immediate benefits in the merger including expanded capabilities, proven processes and execution, seasoned management and enhanced resources and reach.
New York City-based private equity firm Snow Phipps Group LLC is the principal investor in Acentia. RBS Citizens (Lead Arranger), Citizens Bank (Administrative Agent), Bank of America, N.A., M&T Bank, and SunTrust Bank will provide the senior credit bank financing for the 2020 acquisition and a line of credit for future working capital needs.
KippsDesanto & Co. acted as exclusive financial advisor to 2020 in this transaction.
