MartinFed, based in Alabama, has acquired Xcel Engineering Incorporated of Oak Ridge.
“The acquisition of Xcel Engineering is a strategic move for MartinFed as it continues to expand its presence in the federal marketplace,” a press release said.
MartinFed is based in Huntsville, Alabama. The company offers services to federal agencies and contractors in cybersecurity, information technology, training, contract vehicles, and engineering and technical solutions, according to its website.
Xcel Engineering, which is located in Commerce Park, provides information technology and engineering services. The services include IT staffing and solutions, environmental engineering, and project management and consulting, the press release said.
“We are thrilled to welcome Xcel Engineering to MartinFed,” said David Mathis, president and chief executive officer of MartinFed. “This acquisition allows us to expand our capabilities and better serve our federal, state, and local clients by offering a wider range of IT and engineering services. We believe this is a natural fit for both companies, and we look forward to working together to deliver top-quality solutions to our customers.”
“Combining our solutions-based company with the reputation and track record of Xcel Engineering brings enhanced capabilities and an expanded customer base as we continue to provide for the safety and security of our nation,” said Matthew Schmitz, chief growth officer of MartinFed.
Schmitz is serving as interim president of Xcel Engineering. Jim Page, who was recently named executive vice president of MartinFed, will assume the dual role of president of Xcel Engineering when he officially joins the MartinFed team in March, the press release said.
Mathis believes the acquisition will bring new opportunities for growth and innovation. “MartinFed’s DNA originates in Oak Ridge, and we remain steadfast in our commitment to the Oak Ridge community,” Mathis said. “Xcel will maintain its office and staff in Oak Ridge, Tennessee, with plans to expand its presence in the coming years.”
More information will be added as it becomes available.
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