DFW Capital Partners announced today that on March 26, 2012, it made an equity investment in Information Innovators, Inc. (“Triple-I”), a leading provider of IT services to agencies of the U.S. federal government. DFW invested in preferred equity, and raised senior and subordinated debt financing, to facilitate a recapitalization of the company. DFW was joined in the transaction by Triple-I management, who made a significant equity investment alongside DFW.
Founded by Deborah and Steve Ikirt in 2001, and headquartered in Springfield, VA, Triple-I is a leading provider of enterprise-level managed IT services for the U.S. federal government, serving both civilian and defense agencies. The company’s core areas of expertise include (i) data center migration, consolidation and operations; (ii) outsourced network and IT security infrastructure design and management; and (iii) enterprise-wide end-user service desk operations and IT infrastructure operations. Triple-I has grown rapidly in recent years, as it has won increasingly large and complex managed services contracts, and has distinguished itself as a highly competent provider of flexible IT management solutions to its customers. The company enjoys a stellar reputation with its customers, garnering reputation for outstanding program management, highly responsive customer service, and competitive pricing. Triple-I is further focused in sectors of the federal government undergoing consolidation of operations and upgrade of IT infrastructure – areas where its expertise has successfully been employed to reduce costs and improve service levels. Some of the company’s core customers include the Veterans Administration (prime contractor on the VA T4 contract); Air Force (prime contractor running the entire enterprise service desk operations for employees worldwide), Department of Transportation, Department of Health and Human Services, Patent & Trademark Office and the Defense Contracts Management Agency.
The company is led by Co-founder & CEO Steve Ikirt, and President & COO Franco Tao, both of whom possess extensive federal IT contracting experience. DFW has augmented the Triple-I team with the addition of a CFO and EVP of Corporate Development, both of whom were executives with a former DFW portfolio company, MATCOM International. Lou Ray, MATCOM’s former CEO and a current DFW Operating Affiliate, was also extensively involved with DFW in its evaluation and consummation of the transaction, and will play an ongoing consultative role to both the company and DFW.
DFW was attracted to the Triple-I opportunity for many reasons, including the company’s excellent management team, excellent customer reputation, growth trajectory, competitive positioning on key federal contracts, recurring-revenue nature of its core business, and opportunities for DFW to add value in expanding the company’s infrastructure as it continues to grow.
Steve Ikirt commented “we are excited to be working with DFW, and believe they will be an excellent partner for the business, as we seek to expand our executive team, client relationships and technical areas of expertise. The involvement of both their operating affiliate, Lou Ray, and various new management members they have been able to help recruit, has already had an impact on our business. We look forward to a mutually rewarding relationship in the future.”
Joining DFW in the Triple-I deal were lenders Bank of America and Greyrock Capital Group. Institutional co-investors alongside DFW included affiliates of Greyrock Capital and Private Advisors. Information Innovators, Inc. was represented by KippsDeSanto & Co.
About DFW Capital Partners
DFW Capital Partners is a private equity investment firm focused on lower middle-market companies. The firm concentrates on service companies, with an emphasis on healthcare and outsourced business and industrial support services. DFW is backed by both institutional and high-net worth individual investors, and has established a 20+ year track record of success in building leading companies and delivering superior returns for its investors. DFW is headquartered in Teaneck, NJ, and maintains an office in Washington, D.C. For more information contact Keith Pennell, Managing Partner, at (201) 836-6000.