Constella Group, a rapidly growing consulting firm, is being sold.
SRA International, a provider of technology and strategic consulting services based in Fairfax, Va., said Wednesday morning it was acquiring Constella.
Terms were not disclosed.
SRA plans to establish a new health business unit built around Constella Group.
The company declined comment on specifics of the finances involved or on what impact the deal might have on jobs at Constella Group.
The deal combines two companies with largely different missions. Constella Group is focused on consulting services for life science firms as well as international health development and research, technology, communications and strategy support to government agencies.
SRA deals primarily with the federal government on IT consulting and solutions.
In 2006, Constella acquired two other companies and reported revenues of $169 million. Origin Pharmaceuticals and RTP-based Lineberry research Associates were acquired in March and October.
Just two years ago, Constella Group raised $61 million inn funding through Wachovia Capital Partners and venture capital firm Wakefield Group.
The company was known as Analytical Sciences until 2003.
“Constella’s deep domain expertise, combined with the capabilities of our existing health business, will offer a comprehensive solution in the global health marketplace,” said SRA Chief Executive Officer Stan Sloane in a statement.
“We’re delighted to welcome Constella’s employees and customers to SRA,” he added. “”They will form the foundation of a new health business unit to be led by Don Holzworth, which will bring even greater focus to this growing market in the future.”
Holzworth is founder and CEO of Constella.
Holzworth is founder and CEO of Constella. He noted that the companies had worked together before.
“We’ve worked with SRA for many years and have high respect for their management and culture,” Holzworth said. “Our companies were both built on a powerful vision, and we look forward to significant opportunities for growth and expansion together.”
SRA said it expected the deal would be accretive to earnings in its fiscal 2008 year. The deal is expected to close within a month.
Holzworth, a widely recognized entrepreneur in the Triangle, founded Constella Group in 1991. He was named Carolinas Entrepreneur of the year in 2005 by Ernst & Young. The Council for Entrepreneurial Development picked Constella as its Life Science Services company of the year in 2003.
Just last week, the CED recognized Holzworth again, naming him the recipient of its Entrepreneurial Excellence award.
SRA has some 5,200 employees.