ICF (NASDAQ: ICFI), the global consulting and digital services provider, announced today that it has entered into a definitive agreement to acquire DMS Disaster Consultants (DMS), a disaster planning and recovery services firm. Following the closing, DMS will operate as part of ICF’s disaster management and resilience division.
“DMS has strong capabilities that will enhance and augment our disaster response, recovery and preparedness capabilities,” said Sudhakar Kesavan, chairman and chief executive officer of ICF.
For over two decades, DMS has assisted public sector clients with pre-disaster services and post-disaster recovery, including the development of comprehensive insurance, risk management, and risk mitigation strategies. DMS’ industry leading project management software, disasTRAX®, has been used in hundreds of disaster situations creating real-time reports of recovery-related data to improve efficiency and overall program management. The DMS team, consists of about 50 employees, including engineers, architects, adjusters, risk managers, forensic accountants and project managers.
“We couldn’t be more excited to join ICF,” said David Shapiro, president of DMS. “Our teams share a common mission to encourage community and organization leaders to plan for the next disaster; not just focus on recovering from the last one. Becoming part of ICF affords us incredible scale in helping our clients anticipate risk, mitigate damage and build resiliency. Together, we will offer a more comprehensive and integrated suite of disaster response, recovery, and preparedness capabilities.”
ICF has been on the ground for some of the most significant disasters in recent U.S. history, working with federal agencies as well as state and local communities to manage large-scale disaster response, recovery and preparedness efforts. ICF has worked on projects for more than two decades funded by the Department of Housing and Urban Development (HUD) and the Federal Emergency Management Agency (FEMA). Read more about ICF’s disaster management services.
ICF (NASDAQ:ICFI) is a global consulting services company with approximately 7,500 full- and part-time employees, but we are not your typical consultants. At ICF, business analysts and policy specialists work together with digital strategists, data scientists and creatives. We combine unmatched industry expertise with cutting-edge engagement capabilities to help organizations solve their most complex challenges. Since 1969, public and private sector clients have worked with ICF to navigate change and shape the future. Learn more at icf.com.
Statements that are not historical facts and involve known and unknown risks and uncertainties are "forward-looking statements" as defined in the Private Securities Litigation Reform Act of 1995. Such statements may concern our current expectations about our future results, plans, operations and prospects and involve certain risks, including those related to the government contracting industry generally; our particular business, including our dependence on contracts with U.S. federal government agencies; our ability to acquire and successfully integrate businesses; and the effects of the novel coronavirus disease (COVID-19) and related federal, state and local government actions and reactions on the health of our staff and that of our clients, the continuity of our and our clients' operations, our results of operations and our outlook. These and other factors that could cause our actual results to differ from those indicated in forward-looking statements THAT are included in the "Risk Factors" section of our securities filings with the Securities and Exchange Commission. The forward-looking statements included herein are only made as of the date hereof, and we specifically disclaim any obligation to update these statements in the future.
Second Quarter Highlights
- Total Revenue Was $324 Million, Up 6 Percent
- Diluted EPS of $0.71, Up 13 Percent; Non-GAAP EPS¹ Was $0.80
- Adjusted EBITDA Margin¹ on Service Revenue¹ Was 11.9 Percent
- Contract Awards Increased 74 Percent to $590 Million; TTM Contract Awards Were $1.6 Billion for a Book-to-Bill of 1.28x
- Increased Business Development Spending Drives Record Pipeline of $5.7 Billion at Quarter-End