Private equity firm Bernhard Capital Partners has acquired a provider of technology and other professional services to federal agencies in a move that further marks the investor’s foray into the government market.
The transaction announced Tuesday involves Apogee Engineering, which was founded in 2004 and largely focuses on programs for defense and national security agencies.
No financial terms were disclosed, but Apogee said it will be led by CEO Frank Varga following his promotion from the chief operating officer role he took on in the fall. Varga joined the company in 2009 and became a vice president in 2018.
Colorado Springs-headquartered Apogee has received approximately $67.5 million in unclassified prime obligations over the trailing 12 months, according to USASpending.gov data.
Substantially all of that spend goes through contracts with the General Services Administration and Defense Department The GSA figure indicates a large volume of activity through multiple-award contracts Apogee is on.
Apogee describes its four primary mission portfolios as including digital transformation, science and technology, adaptive acquisition, and mission operations.
Auxo Partners acted as the financial adviser to Apogee, which also worked with Growth[period].