MCLEAN, Va.--(BUSINESS WIRE)--Preferred Systems Solutions, Inc. (“PSS”), a portfolio company of CM Equity Partners (“CMEP”), announced that it recently appointed Randy Morgan as CEO and member of the PSS Board of Directors. In addition, PSS has announced that Jim Ballard, current CEO and Board member, will transition to Chairman of the Board.
“Over his career, Randy has consistently demonstrated a progressive, strategic approach to business coupled with strong leadership abilities that will serve PSS well going forward,” said Peter Schulte, Managing Partner at CMEP. He continued, “Over the past 18 months, PSS has experienced great success in building their workforce, winning new and re-compete contracts, developing a robust pipeline of business opportunities, and continuing to delight their customers with exceptional solutions and services. Randy is well respected by customers, partners and colleagues within the industry and his expansive experience is directly related to the areas of growth we are pursuing at PSS.”
In his new role, Mr. Morgan will be responsible for continuing to grow PSS’ professional services and leading-edge technology capabilities to bring mission-enabling innovation to new and existing customers, assuring our continued reputation for exceptional support, and promoting the personal and professional development of our workforce.
“I am very pleased to be joining a very talented PSS Team as their new CEO and look forward to building upon the success PSS achieved through outstanding support and providing critical mission solutions to our customers to help protect our Nation,” said Randy Morgan.
Prior to joining PSS, Mr. Morgan held senior leadership roles, most recently when he joined Parsons Corporation in 2011 as part of the acquisition of SPARTA, Inc. As EVP for Operations (“COO”) for Parsons Federal, a 4000 person global business unit of Parsons Corporation, providing U.S. customers worldwide with full-service engineering, mission solutions, management, and technical services in the defense, security, intelligence, environmental, infrastructure, and energy markets. Working with the Parsons Federal leadership team, Mr. Morgan was instrumental in the design and implementation of several multi-year new business campaigns which resulted in the successful pursuit and capture of several industry leading contract awards within the U.S. Department of Defense (“DoD”), the Intelligence Community (“IC”) and the Missile Defense Agency. Prior to that, Mr. Morgan was President of SPARTA, Inc., where he provided leadership to a team of 1,500 technical professionals conducting research and development, design, engineering, and testing of complex systems in support of the DoD, IC and Department of Homeland Security.
Jim Ballard named Chairman of the Board
Mr. Ballard, who has been CEO since August 2017, and previously President and COO since 2014, will become Chairman of the Board. “We are grateful for Jim’s guidance over the past five years with PSS and look forward to his continued participation in the success of the Company,” added Peter Schulte.
About Preferred Systems Solutions, Inc.
PSS provides program and acquisition management, financial consulting, engineering & technical services, mobile applications, high performance computing, cloud migration, and data analytics support services to the Intelligence Community and the Civilian (FBI, DHS, GSA, NIH, etc.) and Defense (U.S. Army, U.S. Navy, Defense Logistics Agency, U.S. Transportation Command, etc.) markets. For more information, visit www.pssfed.com, or email firstname.lastname@example.org.
About CM Equity Partners
CMEP is a private equity firm focused primarily on the federal services and aerospace and defense industries. Since its founding in 1992, CMEP has made more than 50 acquisitions and investments and has been responsible for managing nearly $500 million of equity investments and raising nearly $1.1 billion in debt. CMEP's team brings an active and collaborative management approach to its investments by partnering with management teams, developing long-term strategic plans and supporting re-investment of profits to grow and broaden a company's revenue base and capabilities. Additional information about CMEP is available at www.cmequity.com. CMEP is associated with Carl Marks & Co., a private family investment office with merchant banking activities dating to 1925. Additional information about Carl Marks & Co. is available at www.carlmarks.com.