Value Recovery Holding, a consulting subsidiary, will team up with newly acquired Scully Capital Services to manage a joint consulting practice. The combined firm will focus on the core skill sets of the consulting practices and look to expand into support of broader missions in the infrastructure, energy and finance arenas within the federal government and private sector.
Columbus-based Value Recovery owns a portfolio of 10 different companies and focuses on recovering under preforming assets. The company has about 110 employees and makes $30 million to $40 million in annual revenue.
Barry Fromm, Value Recovery CEO, declined to disclose the terms of the deal but said it paid cash.
“This is much different from distressed assets we have done. They are obviously successful,” Benjamin VanBuskirk, Value Recovery Holding senior vice president said. “The acquisition rounds out our skill set. We work very well with them and have a similar culture. They work in a unique area that is similar to ours but not overlapping.”
Vanbuskirk said all five Scully Capital employees will remain with the firm, including founder Larry Scully, who will remain as a consultant for the next three years.
Last Year, Value Recovery landed a bid to help the U.S. Army find sources of clean energy to bring low-cost, large-scale renewable energy to bases across the U.S.
The company also is the prime contractor for the U.S. Department of Energy Loan Programs Office.
The newly combined firm now supports 10 federal agencies providing full scale program management. It will be based in Columbus, but the main office for the consulting practice be in Washington, D.C.