Tallasi Technology, a new holding company formed by two former executives of Stanley Associates, has acquired GAP Solutions, Inc., giving it a platform in the professional services business with which to expand.
Terms of the deal were not disclosed. GAP Solutions, which will keep its name, is based in Northern Virginia and has 375 employees.
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GAP is an “anchor acquisition and we expect to do a series of deals quickly” to grow the company, Eric Wolking, a former Stanley executive and the new GAP CEO, told Defense Daily yesterday. Wolking said that he and his business partner Pat Flannery, also a former Stanley executive, reviewed about two dozen firms before targeting GAP for an acquisition.
GAP Solutions provides its customers with range of mission and administrative support services focused on emergency management, security and information management, and logistics support. The company does some training services.
GAP’s main customers are the Departments of Health and Human Services, State and Justice. The company also does business with the Defense and Homeland Security Departments.
Wolking said that GAP has a competitive advantage in a federal contracting environment that emphasizes low price technically acceptable bids because it has a low cost infrastructure. As the company scales up, it will become even more cost competitive, he said.
The federal market will remain the sole focus of the business, Wolking said.
Wolking and Flannery were aided in the deal by Bluestone Investment Partners, which provided due diligence and facilitated with the financing. Wells Fargo provided the financing. GAP’s financial adviser was The McLean Group.
Flannery said in a statement that Bluestone will help provide “market insight as we execute our consolidation strategy.”
GAP’s management team will remain with the company.
Canada’s CGI [GIB] acquired Stanley Associates in 2010.