Reston-based Whitney, Bradley & Brown Inc., a federal contractor with a heavy emphasis on defense agencies, has been sold to an affiliate of H.I.G. Capital, the global private equity firm announced Tuesday.
Terms were not disclosed. H.I.G. has $24 billion of equity capital under management worldwide.
WBB Consulting, as it is better known, was founded in 1981 and currently employs 450-plus people, according to its website. Headquartered out of 11790 Sunrise Valley Drive, the management consulting firm operates seven offices near its federal clients, including in Quantico, Virginia Beach, Hampton, Virginia, and Patuxent River, Maryland.
In a release, H.I.G. also announced that Robert Olsen has been promoted to WBB CEO and Executive Chairman Bill McMullen will retire.
“We believe WBB’s existing services provide a strong foundation and are looking forward to working with the team to expand WBB’s capabilities through organic investments and complementary acquisitions as we embark on this exciting next chapter of growth,” Jeff Zanarini, an H.I.G. managing director, said in a statement.
In 2012, WBB merged with then Rockville-based NetStar-1 to create a company with more than $130 million in revenue.