Trowbridge and Trowbridge announced on Monday that Enlightenment Capital completed the financial purchase of the company to fuel their continued growth and expansion. The McLean Group, a leading investment bank specializing in M&A advisory services, advised Trowbridge & Trowbridge on its sale to Enlightenment Capital.
Cass Panciocco, the chief operating officer, is assuming the role of president and chief executive officer of Trowbridge. Panciocco will continue to focus on operations and business development, which focuses on delivering industry leading solutions to federal agencies in the defense and civil markets.
â€œEnlightenment is our ideal investment partner, as they understand the sector and share our vision to create a platform for service delivery excellence as we transition to the mid-tier,” Panciocco said. “This partnership strengthens Trowbridgeâ€™s capacity to pursue strategic growth initiatives and to invest in new capabilities required by our customers.â€
Panciocco has more than 30 years of experience providing cyber, business intelligence and unified communications solutions and services to federal government agencies. Before joining Trowbridge and Trowbridge, Panciocco served as the operating group president of ASRC Federalâ€™s Information Systems and Technology group.
Under the purchase terms, the current Trowbridge management team will remain the same. Karen Trowbridge, Trowbridge’s founder, will support the company as a strategic advisor and serve on the companyâ€™s board of directors.
â€œThe Trowbridge management team was receptive to Enlightenmentâ€™s financial backing to enable the companyâ€™s continued organic growth trajectory coupled with the exploration of future acquisitions,â€ said Karen Trowbridge. â€œAdditionally, by making Trowbridge a platform, the Enlightenment team provided us the ability to maintain our culture and mission delivery focus which we have built over the last 12 years,â€ she added.
â€œWe are very excited for both Trowbridge and Enlightenment and believe their combination will prove highly successful,â€ said Greg Nossaman, Senior Managing Director, The McLean Group. Greg Woodford, Senior Managing Director, The McLean Group, added, â€œEnlightenmentâ€™s industry knowledge and transaction sophistication will accelerate the companyâ€™s growth as a mid-tier.â€