FAIRFAX, Va.--(BUSINESS WIRE)--Jan. 3, 2012--
ICF International (NASDAQ:ICFI), a leading provider of consulting
services and technology solutions to government and commercial clients,
announced today it has closed on the acquisition of Ironworks
Consulting, L.L.C., 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. The purchase price was approximately $100
million.
McGrath North Mullin & Kratz, P.C., L.L.O. acted as ICF’s legal counsel
on the transaction. RSM McGladrey, Inc. conducted financial and tax due
diligence for ICF. Signal Hill Capital Group L.L.C. initiated this
transaction and acted as sole financial advisor to Ironworks Consulting,
L.L.C.
Founded in 2001, Ironworks offers integrated customer engagement
applications, including interactive, portal and content management
solutions, and business and IT alignment services to a growing roster of
Fortune 500 companies and government agencies. The combination of
Ironworks with ICF will provide additional implementation services in
each of ICF’s markets; expand the footprint of ICF’s commercial
business, including commercial energy; provide ICF entrée into the
commercial health market; and create a unique, end-to-end provider in
ICF’s markets in the rapidly-growing digital/interactive space.
Headquartered in Richmond, Va., Ironworks has 250 full-time employees
and five offices.
About ICF International
ICF International (NASDAQ:ICFI) partners with government and commercial
clients to deliver professional services and technology solutions in the
energy, environment, and transportation; health, education, and social
programs; and homeland security and defense markets. The firm combines
passion for its work with industry expertise and innovative analytics to
produce compelling results throughout the entire program lifecycle, from
research and analysis through implementation and improvement. Since
1969, ICF has been serving government at all levels, major corporations,
and multilateral institutions. More than 4,000 employees serve these
clients worldwide. ICF's website is http://www.icfi.com.
Caution Concerning Forward-Looking Statements
Statements that are not historical facts and involve known and unknown
risks and uncertainties are "forward-looking statements" as defined in
the Private Securities Litigation Reform Act of 1995. Such statements
may concern our current expectations about our future results, plans,
operations, and prospects and involve certain risks, including those
related to the government contracting industry generally; our particular
business, including our dependence on contracts with U.S. federal
government agencies; and our ability to acquire and successfully
integrate businesses. These statements include those that refer to ICF’s
current expectations about the acquisition of Ironworks. Other factors
that could cause our actual results to differ from those indicated in
forward-looking statements are included in the "Risk Factors" section of
our securities filings with the Securities and Exchange Commission.
Although ICF’s expectations are based on what management believes to be
reasonable assumptions, it cannot assure the expectations reflected in
this document will be achieved as they are subject to risks and
uncertainties that are difficult to predict and may be outside of ICF’s
control. Such risks and uncertainties include the possibility that the
benefits anticipated from the Ironworks transaction will not be fully
realized and other risks in connection with the proposed transaction.
The forward-looking statements included herein are only made as of the
date hereof, and we specifically disclaim any obligation to update these
statements in the future.
Source: ICF International
ICF International
Dr. Douglas Beck, 1-703-934-3820
or
MBS
Value Partners
Lynn Morgen, 1-212-750-5800
