CREVE COEUR, Mo. — Creve Coeur-based iBridge Solutions LLC, an information technology consulting firm founded in 2000, has been purchased by a Jacksonville, Florida-based company.
Terms of iBridge's sale to the larger company, Consulting Solutions, were not disclosed. When combined, the two firms will have 175 staff members, about 1,300 contractors and projected revenue of $245 million this year.
Craig Boren, principal and co-founder of iBridge, said the firm began to search for an acquisition partner about six months ago to help expand its capacity to recruit IT staffing and provide services. The best fit was Consulting Solutions, he said.
“A lot of it was gut feel. We just felt very comfortable that they held the same core values that we held – that business was about your clients and your employees first and doing things the right way,” said Boren, whose new title is senior vice president.
IBridge provides IT staffing services to Fortune 1000 clients, delivering candidates with “hard-to-find skillsets," the company said. Its largest clients include Bayer AG (OTCMKTS: BAYRY), Mastercard Inc. (NYSE: MA), the Federal Reserve Bank of St. Louis, Panera Bread, Olin Corp. (NYSE: OLN) and Centene Corp. (NYSE: CNC).
With an office at 2 CityPlace Drive in Creve Coeur, iBridge has about 125 employees and consultants, and had annual revenue of about $15 million in 2021.
Consulting Solutions, which is a portfolio company of Miami-based private equity firm White Wolf Capital, was founded in 2005. Consulting Solutions has about 150 employees, 1,200 contractors and $230 million in revenue.
Michael Werblun, CEO of Consulting Solutions, said iBridge is now a stand-alone division of Consulting Solutions.
Read the full story on the St. Louis Business Journal website.
