Harmonia Holdings Group – a provider of innovative technology solutions to the U.S. federal government – announced today that it has received a strategic growth investment from funds affiliated with Madison Dearborn Partners (MDP).
In connection with the investment, Damon Griggs and Jon Brooks (formerly Executive Partners of MDP’s Technology & Government team) are joining Harmonia’s executive team with Damon serving as Chief Executive Officer (CEO) and Chairman of the Harmonia Board of Directors and Jon serving as Chief Business and Legal Officer.
Harmonia’s co-founders Pallabi Saboo and Jai Saboo will retain significant ownership positions in the company and will continue to be involved in the business as Strategic Advisors, with Pallabi also serving on Harmonia’s Board. Anil Patibandla will continue as Harmonia’s President, and Dr. Marc Abrams, also a co-founder, will continue as its Chief Technology Officer (CTO).
Harmonia offers advanced technologies to help federal government customers harness the power of data to ensure mission success. And the company utilizes Agile and DevSecOps approaches to modernize its clients’ software and systems and enhance their AI/ML, cybersecurity, data, and cloud modernization capabilities. Harmonia has seen strong growth over the past two decades by consistently investing in innovation and talent.
The strategic growth investment in Harmonia is based on the previously announced partnership among MDP, Damon, and Jon to invest in and build a leading provider of differentiated digital technology solutions to the U.S. Federal Government. And Damon joins Harmonia as CEO and Chairman after most recently serving as CEO of Dovel Technologies. Under Damon’s leadership, Dovel grew rapidly as a result of its investments in people, innovation, and disciplined acquisitions, culminating in the company’s sale in late 2021.
The financial terms of the investment were not disclosed.
Kirkland & Ellis and Crowell & Moring provided legal counsel to MDP. And KippsDeSanto & Co. served as financial advisor to Harmonia and Pillsbury Winthrop Shaw Pittman provided legal counsel.
KEY QUOTES:
“Through our new partnership with MDP, Damon and Jon, Harmonia will have the resources to build expertise and develop leadership roles to accelerate its growth strategy, which we expect will deliver many benefits to our customers and employees. We are proud of what we have accomplished together with Marc, Anil and the rest of our colleagues at Harmonia, and we are excited to begin this new chapter of Harmonia’s growth journey. We firmly believe that Damon is the right person to take Harmonia to the next level, while still preserving our employee-first culture, which has led to industry-leading innovation, agility, and customer responsiveness.”
– Pallabi Saboo and Jai Saboo
“We could not be more excited that MDP’s great partnership with Damon and Jon has led to a new platform investment with Harmonia. Our investment is a testament to Harmonia’s unique approach to creating an innovation ecosystem in the government technology services space. We believe Harmonia is primed for continued strong growth and we look forward to supporting the Harmonia team as the Company expands its capability set and capacity to help government agencies serve their constituents more effectively and efficiently.”
– Matt Norton, Brandon Levitan, Jay Pauley, and Benjamin Spacapan of MDP’s Technology & Government team
“Jon and I have been partnered with Matt, Brandon, and the MDP team for the past several years and we have been following Harmonia’s success for almost a decade. We are looking forward to working with Pallabi, Jai, and the entire Harmonia team to accelerate its journey to become the premier digital solutions provider for the federal government. Today marks the start of an exciting new chapter for our business, our clients, and our employees. The Harmonia team will remain focused on helping our federal government customers to more effectively support their mission through the use of emerging technologies.”
– Damon Griggs
