Daily News

View All News

On Assignment is now ASGN, firm completes $775 million ECS acquisition

April 02, 2018

Professional staffing firm ASGN Inc. (NYSE: ASGN) completed its $775 million acquisition of government services contractor ECS Federal LLC. Concurrent with the acquisition, On Assignment changed its name to ASGN Inc. to better reflect the combined company’s business.

On Assignment first announced the deal and name change in January.

ECS will continue to operate under the ECS brand name and will also operate as a separate segment of ASGN. ECS President George Wilson and the current ECS leadership team will remain.

“We’re excited by the combination of ASGN and ECS,” said Peter Dameris, CEO of ASGN. “The addition of ECS’ government services solutions to our business portfolio will complement and elevate our statement of work offerings and provide us access to the $130 billion federal IT services market. As we look ahead, our mission as an organization is to be the premier provider of highly skilled human capital that will drive the economy into the next generation.”

In connection with the acquisition and to fund the purchase consideration, ASGN amended its existing credit facility, which consists of a $200.0 million five-year revolving credit facility and term B loans totaling $1.4 billion.