| ICF International, Inc. | |
| Type: | Public |
| Traded As: | NASDAQ: Russell 2000 Component |
| Key People: | John Wasson (chair and CEO) James Morgan (COO) Barry Broadus (CFO) |
| Industry: | Professional services |
| Services: | Strategic planning, research, program management, business process management, data analytics, technology, cybersecurity, marketing strategy and engagement marketing |
| Revenue: | US $1.48 billion (2019)[1] |
| Num Employees: | 7,000 (2019) |
| Location: | Reston, Virginia |
| Num Locations: | 90+ offices |
| Area Served: | Worldwide |
ICF International, Inc. is an American publicly traded consulting and technology services company based in Reston, Virginia.
The company was founded in 1969, and as of 2019, had US $1.48 billion in revenue, with approximately 9,000 full and part time employees in more than 90 offices.[1] [2]
ICF was founded in 1969 as the Inner City Fund.[3] Its first president was Clarence D. Lester, a Tuskegee Airman, who was joined by three U.S. Department of Defense analysts.[3] As a venture capital firm, Inner City Fund sought to finance and help minority-owned businesses win government contracts.[4]
The company reorganized as a consulting firm and renamed itself ICF Incorporated. The firm transitioned from venture capital to consulting on energy issues for U.S. federal agencies, which was the company's main focus throughout the 1970s and into the 1980s.[4] [5]
ICF acquired Kaiser Engineering in 1988 and went public in 1989. The combined company became known as ICF Kaiser.[6] Under this banner, the company worked in consulting, engineering and construction services.[7] ICF and Kaiser split in 1999 when an investment group bought the consulting business for about $70 million.[8]
In 2006, the consultancy was renamed ICF International and in September that year, the company went public, trading on the NASDAQ as ICFI.[9] The company received criticism of its management of the Road Home program in the aftermath of Hurricane Katrina.[10] In an article in The Washington Post, the company said it had addressed problems raised in those criticisms, and that state and federal fraud-prevention rules were in flux and made the grants administration process more time-consuming.[11] The company later supported the Hurricane Sandy relief efforts for the State of New Jersey.[12]
Beginning in the 2000s, ICF grew in size and scope through a series of acquisitions. These acquisitions expanded the services offered by ICF and moved the company more into the commercial space.[13] In 2007, federal, state and local government contracts generated 92 percent of company revenues.[13] Commercial work, which accounted for 6 percent of revenues in 2007, grew to 20 percent of revenues by 2011.[13] By the end of 2016, commercial work accounted for 35 percent of revenues.[14]
In 2012, the company expanded its international business by acquiring London-based GHK Holding Limited, a consulting agency working with government and commercial clients.[13] In 2014, it expanded its European presence with the acquisition of Belgian communications firm Mostra S.A. Through GHK and ICF Mostra, the company has worked with the European Commission.[15] [16]
In 2014, ICF acquired advertising agency Olson for $295 million. The company's work includes campaigns for Belize;[17] Skittles, whose "Marshawn Lynch’s Skittles Press Conference" was named PRWeeks Product Brand Development Campaign of the Year in 2016;[18] and Puppy Bowl sponsor Bissell.[19] In 2016, ICF created ICF Olson, a public relations and marketing division. In addition to Olson, the new division absorbed other ICF acquisitions, including digital service firm Ironworks and engagement house CityTech.
ICF International rebranded as ICF in 2016.[20]
In 2017, PRWeek reported that ICF/ICF Olson had experienced high growth in its public relations and digital business.[21]
In 2019, ICF launched subsidiary ICF NEXT, led by John Armstrong, who had previously co-founded IBM's Interactive Experience (iX) internal agency.[22]
ICF is publicly traded on the NASDAQ as ICFI, and is headquartered in Reston, Virginia.[23] As of year-end 2019, ICF employed around 9,000 workers in 75 regional offices throughout the U.S. and 15 offices in other countries.[1] [24] [25] John Wasson is chair and chief executive officer. Barry Broadus is CFO.[26]
The company provides management, technology and policy consulting, cybersecurity and implementation services in the following markets: government, energy, environment, infrastructure, transportation, health, education, social programs, public safety and security, consumer and financial.[27] [28] [29] ICF initially focused on federal government consulting contracts in energy and the environment and expanded its commercial work in subsequent years.[4] [14]
ICF's Integrated Planning Model (IPM) has been used by the U.S. Environmental Protection Agency (EPA) to project the impact of electric power business sector policies on the environment and to analyze the Clean Power Plan, Carbon Standards for New Power Plants, Mercury and Air Toxics Standards and the Cross-State Air Pollution Rule.
Other agencies, including the U.S. Forest Service of the U.S. Department of Agriculture, the Surface Transportation Board and the Federal Energy Regulatory Commission, have used IPM.[30] [31]
The EPA has awarded contracts to ICF to assist with the agency's Energy Star program, including technical and analytical support.[32] The company also conducts the Demographic and Health Survey funded by the United States Agency for International Development.[33]
Below is a table of ICF's major acquisitions:
| Year | Company | Business | Country | Value (USD) | References | |
|---|---|---|---|---|---|---|
| Arthur D. Little's Environment & Risk and Public Sector Program Management divisions | Consulting for environment, energy, applied technology and program management | $10.5 million | [34] | |||
| Synergy | Defense | $19.5 million | [35] | |||
| Caliber Associates | Human services consulting | $20.8 million | [36] | |||
| Z-Tech | Software engineering, Web design and development, scientific computing | $27 million | [37] | |||
| Jones & Stokes | Integrated planning and resources management | $50 million | [38] [39] | |||
| Simat, Helliesen & Eichner (SH&E) | Air transportation | $51 million | [40] | |||
| Jacob & Sundstrom | Cybersecurity and identity management | $24 million | [41] | |||
| Macro International | Advisory services, energy, cybersecurity, health | $155 million | [42] | |||
| Ironworks Consulting LLC | Web development | $100 million | [43] | |||
| GHK Holding Limited | Consulting | — | [44] [45] | |||
| Citytech, Inc. | Digital interactive consultancy | — | [46] | |||
| Mostra S.A. | Communications | — | [47] | |||
| Olson | Advertising, public relations, communications | $295 million | [48] | |||
| The Future Customer | Loyalty strategy and marketing | — | [49] | |||
| DMS Disaster Consultants | Disaster planning and recovery | — | [50] | |||
| We Are Vista | Communications, marketing | — | [51] | |||
| Incentive Technology Group (iTG) | Software | — | [52] | |||
| SemanticBits | Software | $220 million | [53] |