Madison Dearborn Partners Completes Strategic Investment in Harmonia Holdings Group; Industry Veteran Damon Griggs joins Harmonia as CEO and Chairman
MCLEAN, Va. – Harmonia Holdings Group, LLC (“Harmonia” or the “Company”), a provider of innovative technology solutions to the U.S. Federal Government, today announced that it has received a strategic growth investment from funds affiliated with Madison Dearborn Partners, LLC (“MDP”). As part of this 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).
Pallabi Saboo and Jai Saboo commented: “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.”
Harmonia delivers advanced technologies to help federal government customers harness the power of data to ensure mission success. 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 achieved strong growth over the past two decades by consistently investing in innovation and talent.
Matt Norton, Brandon Levitan, Jay Pauley, and Benjamin Spacapan of MDP’s Technology & Government team, said, “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.”
The strategic growth investment in Harmonia is the result of 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. Damon joins Harmonia as CEO and Chairman after most recently serving as CEO of Dovel Technologies. Under Damon’s leadership, Dovel grew exponentially as a result of its investments in people, innovation, and disciplined acquisitions, culminating in the company’s sale in late 2021.
“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,” said Damon. “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.”
Kirkland & Ellis LLP and Crowell & Moring LLP provided legal counsel to MDP. KippsDeSanto & Co. served as financial advisor to Harmonia and Pillsbury Winthrop Shaw Pittman LLP provided legal counsel.
Financial terms of the investment were not disclosed.
About Harmonia Holdings Group, LLC
Harmonia delivers powerful advanced technologies to help federal government clients harness the power of data to ensure mission success. Harmonia’s growth has been fueled by a skilled, technical employee base that delivers differentiated solutions for AI/ML, Cybersecurity, Cloud Optimization, and Data Science and Analytics. Harmonia proudly supports a diverse federal customer base including DHS, USDA, USCB, FDIC, and DoD through a portfolio of best-in-class contract vehicles and established network of partners. For more information please visit www.harmonia.com/.
About Madison Dearborn Partners
Madison Dearborn Partners, LLC (“MDP”) is a leading private equity investment firm based in Chicago. Since MDP’s formation in 1992, the firm has raised aggregate capital of more than $31 billion and has completed over 160 platform investments. MDP invests across four dedicated industry verticals, including basic industries, financial services, health care, and technology & government. For more information, please visit www.mdcp.com.
