Momentum Advisory Partners advises IT Staffing & Consulting Solutions Provider, QED National in its Sale to Seneca Resources
New York, NY – June 15, 2023 – Momentum Advisory Partners (“Momentum”) is pleased to announce that IT Staffing and Solutions firm, QED National, Inc. (“QED”), has been acquired by Seneca Resources (“Seneca”), a leading national IT, engineering, and business professional talent provider based in Reston, VA.
Momentum served as the exclusive advisor to QED in the transaction. The transaction was finalized on May 26, 2023. Terms were not disclosed.
Founded in 1993 by Colleen Molter, QED is an award-winning, privately held IT consulting and services firm providing clients with IT Staff Augmentation, Cyber/Information Security, IT Management Consulting, and Technology Product Solutions. The company is a long-standing and trusted IT advisor to both the public and private sectors.
“QED National is a highly-respected organization with a track record spanning three decades,” said Akash Taneja, Founder & Managing Partner of Momentum. “Among other aspects, a big part of the company’s success and a key differentiator has been its long-standing and highly-tenured staff, consultants, and customers. Finding a partner that would continue to operate the business in a similar fashion was of equal importance to the economics of the transaction for owners Colleen and Dustin Molter. I feel honored that they put their full trust in me and the firm to help achieve this important outcome for them. I’m also incredibly happy that Colleen was able to retire, knowing that the future of QED is in good hands and that her legacy will continue on.”
Dustin Molter, the leader of QED’s operations, will join Seneca’s leadership team as Managing Director for the New York City office, bringing with him a wealth of experience and insights into the local market. Mr. Molter’s guidance will be instrumental in continuing to drive the growth and success of Seneca’s operations in the New York City area. Akash commented, “I can’t say enough good things about Dustin. Throughout the entire process, he showed patience, poise, hard work, and great character. This could not have been done without him. I’m honored to call him a friend.”
Dustin commented, “To say that Akash was instrumental in helping us secure the right partner to take our firm to the next level would be a vast understatement. He went above and beyond to ensure we properly marketed our firm, spoke with several potential partners, and ultimately selected the right one. From inception to transaction close, Akash and Momentum Advisory Partners were dedicated to our effort and kept our best interests at the forefront every step of the way. His significant experience in M&A, coupled with his notable understanding of IT staffing and consulting, we’re the perfect attributes for us. But, it’s his hard-working, ethical, and efficient service delivery that truly sets him apart.”
About QED National, Inc.
QED National is an award winning, privately held IT consulting firm providing superior services and solutions to both public and private sector customers for the last 25 years. Headquartered in New York City, with additional presence across the country, QED National is guided by deep industry expertise and strong, ethical practices. QED National ensures a thorough, customer-focused understanding of each client’s specific business needs and requirements, yielding tailored solutions that leverage the best IT methodologies, frameworks, practices, and standards.
Learn more www.qednational.com.
About Seneca Resources
Seneca Resources is an Information Technology and Engineering professional services firm supporting clients in the public and private sectors. For over 15 years, Seneca Resources has successfully delivered services and solutions to organizations ranging from small businesses to Fortune 100 companies and numerous branches of the Federal Government.
Learn more www.senecahq.com.
About Momentum Advisory Partners
Momentum Advisory Partners is an M&A Advisory firm focused exclusively on the staffing and workforce solutions industry. The company brings over a decade of experience working with clients in evaluating some of their most strategic and complex decisions. Momentum provides independent, uncompromised advice which makes it uniquely suited to offer a broad range of advisory services to its clients. Advisory services include mergers, acquisitions and divestitures, across the Staffing and Workforce Solutions, Technology and Healthcare sectors. Momentum’s experienced professionals have an exceptional track record of providing remarkable results for its clients.