Confluence Advisors represented Ibis Tek, LLC in the sale of substantially all of the assets of Ibis Tek, LLC, Ibis Tek Properties, LLC, Verbuck, LLC, and Ibis Apparel, LLC (collectively, "Ibis Tek"). An investment group including DJH Management and Rockwood Equity Partners acquired the business of the former Ibis Tek reincorporating as Ibis Tek, Inc. (the “Company”). Industry veterans Vince Nardy, a former executive with Hunter defense Technologies and Phillip Won each joined the Company as CEO and CFO, respectively, effective January 1, 2017.
Ibis Tek had been under a long-running investigation of the former officers of the company dating back to activities prior to 2009 related to an isolated program. The pending nature of the charges were the driving force behind the leadership changes and the sale of the company.
Per Vince Nardy “"We look forward to having this matter having to do with former company executives behind us. Our company was cleared in the related investigation which dates back to activities eight years ago, and we, the over 250 employees of the new Ibis Tek, continue forward on our mission which is toproudly serve the warfighter and our various government customers. Our new ownership and management teams have sterling reputations and we look forward to driving the new Ibis Tek, Inc. into the future.” Mr. Nardy also shared, “Chris Harsh and the team at Confluence Advisors did a great job in getting the transaction completed given a number of challenging dynamics. We believe the Confluence team did an excellent job of balancing the needs and interests of the sellers, buyer, employees and customers to create a win-win-win-win outcome for all involved.”