ICF International to acquire Ironworks Consulting
ICF International, a provider of consulting services and technology solutions to government and commercial clients, has agreed to purchase Innsbrook-based Ironworks Consulting, LLC for the cash purchase price of $100 million, officials with ICF announced today.
“This transaction is emblematic of ICF’s strategy – to continuously expand our range of implementation service offerings in our markets,” said ICF International Chairman and CEO Sudhakar Kesavan. “Ironworks is an excellent strategic fit for ICF, adding complementary capabilities and clients across several of our key markets. With its record of sustained growth and deep client relationships in similar verticals, it strengthens our position in the fast-growing interactive digital services space.”
Ironworks is an interactive web development firm that provides customer engagement solutions across web, mobile and social media platforms to blue chip companies in the health, energy and financial services industries, as well as to U.S. federal government agencies and nonprofit organizations.
Ironworks is expected to report revenues of $57 million for 2011 and an operating income margin of more than 20 percent.
The purchase will be funded through ICF’s existing bank credit line.
Ironworks, founded in 2001, offers integrated customer-facing applications, including interactive, portal and content management solutions and business and IT alignment services to a number of of Fortune 500 companies and government agencies.
Commercial business is expected to account for approximately 65 percent of Ironworks’ 2011 revenues, representing its work for companies in the health; energy; nonprofit; financial services; and manufacturing, retail, and distribution markets. In the government arena, Ironworks’s clients include Centers for Disease Control and Prevention, Department of Veterans Affairs, and National Science Foundation, among others.
“We are pleased to be joining ICF, which we see as an excellent platform to support our future growth,” said Ironworks Chief Executive Officer Scott Walker. “Our priority markets, emphasis on long-term client relationships, and ‘go-to-market’ strategies are consistent, and both of our firms have entrepreneurial cultures that value collaborative work environments.”
Citizen Staff Reports 04/29/2016
Every week, another child is diagnosed with cancer in Central Virginia. Last summer, six-year-old Caroline Morris was one of them.
Diagnosed in June 2015 with acute lymphoblastic leukemia, the most common type of childhood cancer, Morris has been receiving treatment at Children’s Hospital of Richmond at VCU (CHoR) ever since.
“It’s not my hair that makes my beauty,” said Morris, who lost her hair as a chemotherapy side effect, “it’s my heart.” > Read more.
Citizen Staff Reports 04/25/2016
The sign up period for the Richmond Community Solar Co-op will close on April 30. Nearly 150 homeowners and businesses have joined the group to save money and make going solar easier. The group has started installations and is working with VA SUN to learn about solar technology and the process of going solar.
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Another great weekend of outdoor activities awaits you in Henrico! Walk MS, an annual charity run for multiple sclerosis, and the third annual Movin’ & Shakin’ 5K, to benefit the VCU Parkinson’s and Movement Disorders Center, both take place in Innsbrook tomorrow. Another charity event, the CASA Superhero Run, will be held at St. Joseph’s Villa. On Sunday, live music can be found at Belmont Recreation Center, featuring the John Winn Quartet, and at Shady Grove United Methodist Church, where pianist Sylvia Cooper will be performing. For all our top picks this weekend, click here! > Read more.
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CalendarMusic without Walls, an intimate outdoor concert series, will feature the John Winn Quartet at Belmont Recreation Center, 1600 Hilliard Rd, from 5 p.m. to 8 p.m. Bring a lawn… Full text