ICF International

Last updated
ICF International, Inc.
Company type Public
Nasdaq:  ICFI
Russell 2000 Component
Industry Professional services
Founded1969;55 years ago (1969)
Headquarters Reston, Virginia
Number of locations
90+ offices
Area served
Worldwide
Key people
John Wasson (chair and CEO)
James Morgan (COO)
Barry Broadus (CFO)
Services Strategic planning, research, program management, business process management, data analytics, technology, cybersecurity, marketing strategy and engagement marketing
RevenueUS $1.48 billion (2019) [1]
Number of employees
7,000 (2019) [1]
Website icf.com

ICF International, Inc. is an American publicly traded consulting and technology services company based in Reston, Virginia.

Contents

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]

History

1969–2006: Early history

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. [4] 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]

2007–present: Expansion of commercial work

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. [15] Through GHK and ICF Mostra, the company has worked with the European Commission. [16] [17]

In 2014, ICF acquired advertising agency Olson for $295 million. [18] The company's work includes campaigns for Belize; [19] Skittles, whose "Marshawn Lynch’s Skittles Press Conference" was named PRWeek's Product Brand Development Campaign of the Year in 2016; [20] and Puppy Bowl sponsor Bissell. [21] In 2016, ICF created ICF Olson, a public relations and marketing division. [18] In addition to Olson, the new division absorbed other ICF acquisitions, including digital service firm Ironworks and engagement house CityTech. [18]

ICF International rebranded as ICF in 2016. [22]

In 2017, PRWeek reported that ICF/ICF Olson had experienced high growth in its public relations and digital business. [23]

2019: ICF NEXT

In 2019, ICF launched subsidiary ICF NEXT, led by John Armstrong, who had previously co-founded IBM's Interactive Experience (iX) internal agency. [24]

Operations and services

ICF is publicly traded on the NASDAQ as ICFI, and is headquartered in Reston, Virginia. [25] 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] [2] [26] [27] John Wasson is chair and chief executive officer. Barry Broadus is CFO. [28]

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. [29] [30] [31] ICF initially focused on federal government consulting contracts in energy and the environment and expanded its commercial work in subsequent years. [4] [14]

Notable work

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.[ citation needed ]

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. [32] [33]

The EPA has awarded contracts to ICF to assist with the agency's Energy Star program, including technical and analytical support. [34] The company also conducts the Demographic and Health Survey funded by the United States Agency for International Development. [35]

Major acquisitions

Below is a table of ICF's major acquisitions:

YearCompanyBusinessCountryValue (USD)References
2002Arthur D. Little's Environment & Risk and Public Sector Program Management divisionsConsulting for environment, energy, applied technology and program managementFlag of the United States (23px).png  United States $10.5 million [36]
2005SynergyDefenseFlag of the United States (23px).png  United States $19.5 million [37]
2005Caliber AssociatesHuman services consultingFlag of the United States (23px).png  United States $20.8 million [37] [38]
2007Z-TechSoftware engineering, Web design and development, scientific computingFlag of the United States (23px).png  United States $27 million [39]
2007Jones & StokesIntegrated planning and resources managementFlag of the United States (23px).png  United States $50 million [40] [41]
2007Simat, Helliesen & Eichner (SH&E)Air transportationFlag of the United States (23px).png  United States $51 million [42]
2009Jacob & SundstromCybersecurity and identity managementFlag of the United States (23px).png  United States $24 million [43]
2009Macro InternationalAdvisory services, energy, cybersecurity, healthFlag of the United States (23px).png  United States $155 million [44]
2011Ironworks Consulting LLCWeb developmentFlag of the United States (23px).png  United States $100 million [45]
2012GHK Holding LimitedConsultingFlag of the United Kingdom.svg  United Kingdom — [46] [47]
2014Citytech, Inc.Digital interactive consultancyFlag of the United States (23px).png  United States — [48]
2014Mostra S.A.CommunicationsFlag of Belgium (civil).svg  Belgium — [15]
2014OlsonAdvertising, public relations, communicationsFlag of the United States (23px).png  United States $295 million [18]
2018The Future CustomerLoyalty strategy and marketingFlag of the United Kingdom.svg  United Kingdom — [49]
2018DMS Disaster ConsultantsDisaster planning and recoveryFlag of the United States (23px).png  United States — [50]
2018We Are VistaCommunications, marketingFlag of the United Kingdom.svg  United Kingdom — [51]
2020Incentive Technology Group (iTG)SoftwareFlag of the United States (23px).png  United States — [52]
2022SemanticBitsSoftwareFlag of the United States (23px).png  United States $220 million [53]

Rankings and recognition

Rankings

Recognition

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References

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  2. 1 2 ICF Form 10-K 2024, p. 5
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  4. 1 2 3 4 Hamilton, Martha M. (23 July 1990). "Cleaning up on environmental concerns". The Washington Post . Retrieved 24 May 2017.
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  6. ↑ Gellene, Denise (2 March 1989). "Kaiser Engineers merging with unit of its Virginia parent firm". The Washington Post . Retrieved 24 May 2017.
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  10. ↑ "Consulting company targeted in Katrina blame". The Associated Press . 30 January 2007. Retrieved 24 May 2017.
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  14. 1 2 Form 10-K, p. 13
  15. 1 2 Hoover, Mark (21 January 2014). "ICF acquires Brussels communications firm". Washington Technology . Retrieved 20 April 2017.
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  30. ↑ Form 10-K, p. 9
  31. ↑ Form 10-K, p. 11
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  35. ↑ Fears, Darryl. "African women are breaking their backs to get water for their families". The Washington Post . Retrieved 23 May 2017.
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  52. ↑ "ICF makes $255M acquisition to bolster its tech implementation skills". Washington Technology . 13 January 2020. Retrieved 14 January 2020.
  53. ↑ "ICF to Acquire SemanticBits". 8 June 2022. Retrieved 1 May 2023.
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  58. ↑ "Olson Engage takes home top honors at 2016 in2 SABRE Awards for Skittles Super Bowl campaign". The Holmes Report. 17 February 2016. Retrieved 24 May 2017.
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