MartinFed, a leading federal solutions provider based in Huntsville, Alabama, announced today that it has acquired Xcel Engineering, Inc., a leading provider of IT and engineering solutions based in Oak Ridge, Tennessee. The acquisition of Xcel Engineering is a strategic move for MartinFed as it continues to expand its presence in the federal marketplace.
David Mathis, President and CEO of MartinFed, said in a statement, “We are thrilled to welcome Xcel Engineering to MartinFed. This acquisition allows us to expand our capabilities and better serve our federal, state, and local clients by offering a wider range of IT and engineering services. We believe this is a natural fit for both companies, and we look forward to working together to deliver top-quality solutions to our customers.”
Matthew Schmitz, Chief Growth Officer of MartinFed, added, “combining our solutions-based company with the reputation and track record of Xcel Engineering brings enhanced capabilities and an expanded customer base as we continue to provide for the safety and security of our nation.”
Schmitz is serving as interim President of Xcel Engineering, Inc. Jim Page, who was recently named Executive Vice President of MartinFed, will assume the dual role of President of Xcel Engineering when he officially joins the MartinFed team in March.
Mathis believes the acquisition will bring new opportunities for growth and innovation. “MartinFed’s DNA originates in Oak Ridge, and we remain steadfast in our commitment to the Oak Ridge community,” said Mathis. “Xcel will maintain its office and staff in Oak Ridge, Tennessee with plans to expand its presence in the coming years.”
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