Private equity firm IMB Partners has invested an undisclosed amount in eTelligent Group as the information technology services provider aims to scale its organizational infrastructure and explore growth opportunities.
Leesburg, Virginia-based eTel said it serves as a prime contractor on the Internal Revenue Service’s Information Technology Program Management Support Services blanket purchase agreement.
IRS named eTel among the nine awardees on the agency’s five-year, $1 billion IT-EPMSS procurement vehicle in 2019.
Norman Yu, director at IMB Partners, said the company sees an opportunity to help grow and diversify eTel’s work in the government contracting sector.
With the investment, eTel seeks to expand its customer base by exploring potential acquisitions.
IMB Partners is headquartered in Bethesda, Maryland, and is eyeing GovCon companies that earn revenue in the $10 million-to-$250 million range.