For years, CEO Reginald English’s dream was to place his company, IntelliSys Technology Corp., on the BE 100s list. In 1996 the Fairfax, Virginia-based computer services firm finally made it. However, IntelliSys (No. 75 on the BE INDUSTRIAL/SERVICE 100 list with $28.9 million in revenues) recently structured a deal that will remove it from the rankings. Four executives from high-tech giant BTG Inc., also in Fairfax, made “an investment of $1 million and sweat equity,” says English.
While the move reduces the African American ownership of the firm to 50%, the transition will enable it to shore up its sales operations and obtain more lucrative government contracts. IntelliSys’ strategy: use additional management and increased business to seek debt or equity capital from the public capital markets.
English now serves as chairman of the eight-member board of directors-each of whom owns equal shares in the corporation–and focuses on the big picture. “Making it to the BE 100s was one of my dreams,” says English. “It’s a disappointment that IntelliSys is no longer on the list, but we now have the resources to build a stronger organization.”