ICF’s $255 Million Acquisition of Incentive Technology Group

Holland & Knight advised Incentive Technology Group, LLC on the deal.

ICF (NASDAQ:ICFI) executed the acquisition of Incentive Technology Group, LLC (“ITG”). The purchase price is $255 million, funded by ICF’s existing credit facility. The closing of this transaction, subject to regulatory approval and customary closing conditions, is expected to occur in the first quarter of this year and to be accretive on a non-GAAP EPS basis in 2020.

Founded in 2010, ITG is one of the leading and fastest growing providers of cloud-based platform services to the U.S. federal government. ITG had revenues of approximately $90 million in 2019 and ended the year with a revenue run-rate in excess of $100 million.

Based in Fairfax, Virginia, ICF is a global consulting and technology provider with more than 7,000 employees.

Holland & Knight Partner Adam August (Picture) led the team representing ITG in the deal. He was assisted by Partner Ashley Plemons and Associate Simone Summers.

Involved fees earner: Adam August – Holland & Knight; Simone Dallaire Summers – Holland & Knight; Ashley Plemons – Holland & Knight;

Law Firms: Holland & Knight;

Clients: Incentive Technology Group;

Author: Ambrogio Visconti