Markon Spins Off from Anser Advisory to Launch New Government Services Firm

Rhea-AI Summary

Markon plans to spin off from parent company Anser Advisory and launch as an independent government services firm focused on critical mission support for federal clients. The new firm will specialize in program management/construction management, financial management consulting, and systems engineering for federal agencies. Raymond Carney will serve as the new firm's CEO.

Positive

• Markon's spinoff as an independent government services firm could lead to increased business opportunities and growth. The company's deep expertise and past performance in program management, financial management consulting, and systems engineering make it well-positioned to deliver innovative solutions to federal clients. This could attract new clients and contracts, potentially boosting the stock price.

Negative

• The spinoff and launch of the new government services firm may come with initial costs and uncertainties. Investors may be cautious about the success and profitability of the new venture, which could negatively impact the stock price.

New Firm to Focus on Facilities, Financial, and Technology Management Consulting for Federal Clients

WASHINGTON--(BUSINESS WIRE)-- Markon announced today that it plans to spin off from parent company Anser Advisory as an independent government services firm focused on critical mission support for federal clients. The new firm will build on Markon’s deep expertise and past performance in program management/construction management (PMCM), financial management consulting, and systems engineering for the Intelligence Community, DoD, and civilian federal agencies.

Markon spins off from Anser Advisory to launch new government services firm (Graphic: Business Wire)

Raymond Carney will transition from his role as Markon’s Chief Delivery Officer to serve as the new firm’s chief executive, while Matthew Dean, Markon founder and a top Anser Advisory executive, will stay on as Markon’s Chairman. Markon’s leadership and personnel remain committed to supporting their clients’ missions and helping safeguard national security.

"I am thrilled to announce the launch of the next chapter of Markon as a new company and am honored to be working alongside such a talented and experienced team. Our commitment to supporting client missions and advancing national security is unwavering, and I am confident that our collective expertise will enable us to deliver innovative solutions that meet the evolving needs of our clients,” noted Markon CEO Ray Carney. “We are excited to embark on this new journey and look forward to positively impacting the industry and our nation."

This announcement coincides with the Accenture (NYSE: ACN) announcement today of its plans to acquire Anser Advisory, Markon’s parent company, which serves clients across state and local public sector projects. Markon, a 280-employee Anser subsidiary working with US federal clients, will be retained by Sterling Investment Partners and Markon management.

"We are very proud of our partnership with Anser and look forward to seeing the impact they will make in partnership with the broader Accenture platform. We are also excited to announce our continued investment in Markon, a company with a proven track record of success and innovation,” said Bill Macey, Managing Partner and Co-Founder of Sterling Investment Partners. “We are looking forward to our continued partnership with Markon’s talented management team as they continue to build a platform focused on program management and advisory in the federal space," added James Soldano, Partner of Sterling Investment Partners.

Completion of the Anser Advisory acquisition and Markon spinout is subject to customary closing conditions, including required antitrust clearances. Houlihan Lokey served as financial advisor to Anser, and AEC Advisors provided financial advisory services in connection with the spinoff of Markon, and EFCG served as integration advisor to Anser in connection with the sale to Accenture. Dechert LLP served as legal adviser to Anser and Sterling.

About Markon

Markon, formerly known as the federal division of Anser Advisory, specializes in consulting services that include deep subject matter expertise across enterprise technology management, financial management, and program and construction management (PMCM). Markon is consistently recognized on the Energage Top Workplaces USA list, as well as ENR’s Top 50 Program Management and Top 100 Construction Management-for-Fee Firms lists. Markon is also a 2021 and 2022 HIRE Vets Platinum Medallion awardee, as well as the first GEN (Gender Equity Now) certified organization on the East Coast and in the government services industry. Markon is a portfolio company of Sterling Investment Partners.

About Sterling Investment Partners

Sterling Investment Partners is a private equity firm investing in and building middle-market companies for over 30 years with a highly experienced, cohesive team of senior investment professionals. Sterling focuses on value-added distribution and business services, acquiring businesses that the firm believes have strong, sustainable competitive advantages and significant opportunities for value creation. Over its history, Sterling has completed over 220 transactions, representing approximately $28 billion in aggregate value. www.sterlinglp.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230621415651/en/

Juliana Lee

marketing@markonsolutions.com

Source: Markon

FAQ

What is Markon's new focus as an independent firm?

Markon will focus on critical mission support for federal clients, specializing in program management/construction management, financial management consulting, and systems engineering.

Who will be the CEO of the new firm?

Raymond Carney, currently Markon's Chief Delivery Officer, will serve as the new firm's CEO.

What could be the potential impact of the spinoff on the stock price?

The spinoff could lead to increased business opportunities and growth, potentially boosting the stock price. However, there may also be initial costs and uncertainties associated with the launch of the new firm, which could negatively impact the stock price.