Washington (February 9, 2009) – FOCUS LLC, a national middle market investment banking firm providing merger, acquisition, divestiture and corporate finance services, announced today that Newtek International, Inc., has been acquired by Zantech IT Services, Inc. FOCUS represented Newtek International in this transaction.
Newtek International, based in Reston, VA is an IT services firm and has been providing its expertise specifically in the areas of software engineering, IV&V and program management to their federal defense and civilian customers since 1993. Certified as a small business, Newtek is a graduated 8(a) firm that carries ISO 9001:2000 certification and CMMI level II rating. Newtek’s customers include Army, Labor, HUD, DHS, FEMA and others.
Zantech IT services, based in McLean, VA, is a newly formed information technology services firm that is 8(a) certified. “We are very excited about this acquisition which will give us a jump start in our efforts. In Newtek, we have found a firm that has an excellent track record with its customers and quality ratings that are unique in the small business community” said Zia Islam, President and CEO of Zantech.
“Given the small business status, I always knew that our exit options were limited. However, through FOCUS and in particular Manan Shah’s efforts, we were very successful in creating a good deal of interest in our firm from a variety of buyers. Zantech management’s past experience in this sector and reputation was very comforting in my decision regarding this sale.” said R.K. Pillai, founder and owner of Newtek International.
“Given the new small business regulations that went into effect in 2008, it has limited the options for owners like R.K. Pillai. However, we were pleased to see the amount of interest despite this limitation.” According to Manan Shah, who leads the Government Aerospace and Defense Group at FOCUS.
About FOCUS LLC
FOCUS LLC provides a range of middle market investment banking services with an emphasis on mergers, acquisitions, divestitures and corporate finance. FOCUS is headquartered in Washington, D.C. with regional offices in Atlanta, Chicago, Los Angeles and San Francisco. FOCUS specializes in business units with transactions or revenues in the $5-300 million range, serving entrepreneurs, corporate owners and various types of investors across a broad range of industries, throughout the U.S. and worldwide. FOCUS bankers are seasoned operating and financial executives with extensive transaction experience. Securities transactions conducted by Wm. H. Murphy & Co., Inc. registered Broker Dealer member FINRA/SIPC. For more information on FOCUS, visit www.focusbankers.com.