Cadmus has acquired Wheelhouse Group, a change management services provider that offers IT modernization, customer experience (CX) and DevSecOps services. Financial terms of the deal were not disclosed.
This is technology M&A deal number 982 that ChannelE2E has covered so far in 2022.
About the Buyer and Seller
Cadmus, founded in 1983, is based in Waltham, Massachusetts. Cadmus’ more than 700 consultants serve government, commercial, and nongovernmental organizations around the world. The strategic and technology consultancy specializes in energy efficiency, homeland security, strategic communications and more.
Wheelhouse, founded in 2003, is based Fairfax, Virginia. The company has 63 employee listed on LinkedIn. Wheelhouse offers professional services to federal agencies across four core competencies:
- Organizational change management;
- stakeholder engagement and communications;
- workforce transformation; and
- enterprise optimization.
Both companies have extensive experience in the federal market. For instance:
- Wheelhouse serves such agencies as the U.S. Departments of Treasury, Labor, Interior, and Education.
- Cadmus serves such areas as the General Services Administration, the Environmental Protection Agency, the Federal Aviation Administration, Department of Justice, and several commercial clients.
Cadmus Acquires Wheelhouse: Executive Perspectives
In a prepared statement about the deal, Cadmus President and CEO Ian Kline said:
“Wheelhouse’s outstanding consultants are highly adept at delivering the impactful, stakeholder-focused guidance leaders need to ensure organizations are equipped to adopt transformative actions that yield lasting results. I’m delighted to welcome Wheelhouse to Cadmus and I’m excited about the enhanced suite of capabilities we are now able to offer our clients around the globe.”
Added Wheelhouse Co-founder and CEO Laurie Axelrod:
“Cadmus’ technical expertise directly addresses many of the challenges our clients are facing today and perfectly complements our team’s capabilities on the people side of organizational transformation. We couldn’t be more excited to offer this enhanced support to clients as they work to transform their organizations for long-term success, and to provide our employees expanded opportunities to grow professionally as part of Cadmus.”
It sounds like Axelrod will transition out of the business once the M&A integration is completed. The buiyer said Wheelhouse will support the "successful integration into Cadmus and provide consulting services post-integration."
Investment bank Evergreen Advisors assisted Wheelhouse on the deal. Legal and accounting support was provided by Zarren Law Group and KWC, respectively.
Cadmus: Previous M&A Deals
Cadmus has extensive M&A experience. Previous acquisitions include:
- 2022: Strategic communications firm RaikeSchwertner
- 2017: IFOK and Meister Consultants Group for change management and stakeholder engagement.
- 2016: Obsidian Analysis for security and resilience.
- 2008: Quantec for renewable energy.
- 1991: Western Aquatics.
