Houlihan Lokey Advises Summit Technology Consulting Group
Houlihan Lokey is pleased to announce that Summit Technology Consulting Group (STG), has secured a strategic investment from Enlightenment Capital to further accelerate its next phase of growth. The transaction closed on March 26, 2024.
Headquartered in Mechanicsburg, Pennsylvania, STG is a leader in the delivery of advanced digital transformation consulting, tech-enabled services, and cloud-based workflow and transactional solutions to government agencies and financial institutions. In response to new government programs and requirements that emerged during the COVID-19 era, the company leveraged its extensive commercial banking expertise to develop proprietary, cloud-based, workflow solutions with broad applicability to large government programs, such as loan origination and forgiveness, grants management, disaster lending, and economic assistance.
To date, STG’s software-as-a-service (SaaS) platforms have been deployed in more than 275 commercial banking institutions and across numerous mission-critical federal programs, including federal loan, grant, and certification processing. STG has developed one of the few fully integrated Identity-Assurance-Level-2-capable platforms with an integrated fraud and identify proofing orchestration layer. In addition, STG is actively deploying its SaaS solution to support the Treasury’s Corporate Transparency Act with integrated payment processing.
Headquartered in Chevy Chase, Maryland, Enlightenment Capital is a private investment firm that makes control and strategic, non-control investments in middle-market businesses in the Aerospace, Defense, Government & Technology (ADG&T) sector. Enlightenment Capital places a premium on partnering with top-tier management teams focused on building quality companies that are leaders in their field. The company provides strategic support around organic and inorganic growth efforts and creative capital solutions to businesses that deliver mission-critical support to national security and government operations. The firm has deep ties to the ADG&T industry and investment community, and insight into the advances, policies, and dynamics that are driving its evolution.
Houlihan Lokey served as the exclusive financial advisor to STG and assisted in initiating, marketing, structuring, and negotiating the transaction.
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