Sterling Investment Partners-backed Markon, a leading management consultancy that supports US federal government agencies, recently acquired ASEC. This strategic move underscores Markon’s unwavering dedication to building a solid business platform focused on advancing customer missions. The acquisition reaffirms Markon’s position as a trusted partner to federal agencies, particularly within the Intelligence Community and Department of Defense, in the critical areas of finance, program management, and systems engineering. ASEC will operate as an independent subsidiary until integration occurs in 2025.

Ray Carney, CEO of Markon, expressed enthusiasm about the union, stating, “We’re thrilled to welcome ASEC. This partnership brings together two organizations with shared values, culture, and exceptional talent, deeply dedicated to the important government missions we serve and the enrichment and well-being of our employees. This collaboration will deliver even greater value to our clients by leveraging broader and deeper expertise. We embark on this journey with a steadfast commitment to serving our clients with unmatched dedication.”

Jeff Wallace, ASEC President and CEO, emphasized the partnership’s significance: “ASEC’s alliance with Markon fulfills our long-standing quest to partner with a company that mirrors our commitment to our client missions and the professional development of our people. Together, we will optimize operations and technical support for the good of our clients. This partnership brings clear synergy, with shared contracts and resources in the Intelligence sector bolstering our collective capabilities and competitive advantages.”

The ASEC team brings a cadre of influential thought leaders and cleared personnel, boasting a 30-year track record of providing professional services support to the Intelligence Community. ASEC’s focus areas – management, finance, systems engineering, cybersecurity, and software development – complement and align with Markon’s core competencies, enhancing the company’s capabilities to advance federal missions.

Markon’s Chief Corporate Development Officer, Drew Thompson, noted, “This partnership signifies the expansion of our team and a fusion of like-minded cultures dedicated to client success. With this acquisition, Markon elevates our industry-leading service offerings to provide even greater support to our clients’ critical missions. We look forward to forging ahead with renewed vigor and unwavering commitment.”

Stout Risius Ross, LLC provided financial advisory services, and Morrison & Foerster LLP and Foley & Lardner, LLP provided buy-side and sell-side legal advisory services for the transaction, respectively.

About Markon 

Markon is a national consulting firm with a federal government focus, specializing in enterprise technology, financial, and program and construction management for the Intelligence Community and civilian and defense agencies. Team Markon helps solve the nation’s most critical challenges with expertise, resilience, and an award-winning culture. Markon brings a fresh approach and deep dedication to what matters most – supporting its people and advancing client missions. Markon is consistently recognized on USA Today’s and the Washington Post’s Top Workplaces lists, as well as ENR’s Top 50 Program Management Firms list. Markon is also a 2021, 2022, and 2023 HIRE Vets Platinum Medallion awardee and was the first GEN (Gender Equity Now) certified organization on the East Coast and in the government services industry. Markon is a portfolio company of Sterling Investment Partners. Learn more at

About ASEC 

ASEC was founded as a private woman-owned small business in 1992 to provide US Government customers with systems engineering, technical, and programming support services. Focusing on a few core principles and competencies – with highly talented and experienced people – the company has consistently grown organically in a steady manner that continues to attract high-quality talent and experience by word of mouth and referrals. As the employer of choice engaged in long-term, high-caliber strategic consulting work, ASEC focuses on critical enterprise architecture and strategic planning to support mission success for the Intelligence Community. 

About Sterling Investment Partners 

Sterling Investment Partners is a private equity firm that has been investing in and building leading middle-market companies for over 30 years with a highly experienced, cohesive team of senior investment professionals. Sterling focuses on value-added distribution and business services, acquiring businesses that the firm believes have strong, sustainable competitive advantages and significant opportunities for value creation. Over its history, Sterling has completed over 230 transactions, representing approximately $30 billion in aggregate value. For more information, visit

Source: Markon, LLC

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