Markon Solutions appoints new chief executive amid pending transaction / Ed Freeman

Private equity firm Sterling Investment Partners became owner of the professional and infrastructure consulting firm in the spring of 2021.

Markon Solutions, a federal services company acquired two years ago, will go back to operating as a standalone business and get a new chief executive after its private equity owner found a buyer for other pieces of the portfolio.

Accenture has agreed to purchase Markon's parent company Anser Advisory, whose clients are in state and local public sector. The 280-employee Markon business will remain with Sterling Investment Partners and the management team.

In conjunction with the transaction announced Thursday, Markon said it is promoting the company's chief delivery officer Ray Carney to CEO with founder Matthew Dean named chairman of the board of directors.

Sterling became the owner of Anser after the acquisition of Round Table Capital Partners in the spring of 2021, then supported Anser's purchase of Markon later in the fall.

Markon's core professional service lines for federal agencies include program management, construction management, financial management consulting and systems integration.

Falls Church, Virginia-headquartered Markon opened for business in 2007 and touts having project locations on six continents. The company has recorded $14.5 million in prime contract obligations over the trailing 12 months with 69.5% of that from the State Department, according to data.

By acquiring the rest of Anser, Accenture will add approximately 920 employees that provide advisory and other consulting services for infrastructure projects across the U.S.

Houlihan Lokey acted as financial adviser to Anser and AEC Advisors provided other financial advisory services in connection with the spinoff of Markon. EFCG served as integration adviser to Anser in connection with the transaction involving Accenture. Dechert LLP served as legal adviser to Anser and Sterling.