McLEAN, Va., February 29, 2020 – Preferred Systems Solutions, Inc. (“PSS”), a portfolio company of CM Equity Partners (“CMEP”), announced that it recently acquired Eagle Ray, Inc. (“Eagle Ray”), a Senior Advisory and Information Technology (“IT”) Management Consulting firm headquartered in Chantilly, Virginia.

“I am pleased to welcome Babs Doherty and the very talented Eagle Ray Team to PSS. Eagle Ray has a tremendous reputation in the GovCon space built on solving tough technical problems of national significance. Babs has an exceptional background that includes both executive leadership of a growth company along with a technical background where she consistently demonstrated an innovative approach to solving tough technical problems. These qualities will help accelerate PSS growth going forward. Doherty brings a professional, engaging and rigorous approach to business, with a proven track record of success,” said Randy Morgan, PSS President & CEO.

Morgan continued, “Over the past 14 months, PSS has made significant progress in transforming its business model to focus on higher-end growth markets, building its technical capabilities and workforce, winning new and re-compete contracts, and developing a robust pipeline of exciting new business opportunities. Each day provides us with an opportunity to excel and delight our customers with exceptional solutions and services. Babs and the Eagle Ray leadership team are well known and well respected by customers, partners and colleagues within the industry and their experience is directly related to the areas of growth we are pursuing at PSS.”
“The Eagle Ray Team’s experience with solving tough technical problems, providing innovative tools, and implementing highly collaborative strategies to facilitate improved communications between the contracting community and various government agencies make them an ideal fit for PSS as we work to extend our positive momentum, continue growing our platform by adding additional capabilities and building solutions to help our customers achieve mission success,” said Randy Morgan.

“I am very pleased to welcome Babs Doherty and the Eagle Ray Team to the CM Equity family. Eagle Ray is a tremendous addition to PSS bringing exceptional talent, innovative tools and mature quality processes that can be applied across the PSS portfolio of business,” added Peter Schulte, Managing Director, CMEP.

As part of the agreement, Babs Doherty, President/CEO of Eagle Ray, will transition to the role of Senior Vice President within PSS’s newly formed Eagle Ray Technologies Group reporting directly to Randy Morgan. Babs brings over 30 years of national security expertise to PSS; and has been recognized as a SmartCEO Brava! Awardee as well as a Women in Technology Leadership Award finalist. Under Doherty’s leadership, Eagle Ray was awarded the Contractor of the Year ($25 million – $75 million) prestigious GovCon award.

“Coupling similar values and goals with the ability to bring together senior talent, capability, and strategic relationships will enhance the already robust PSS platform and provide Eagle Ray with capacity to propel us to the next level of excellent service to our clients. PSS has a fantastic workforce and a unique customer set with tremendous potential. I look forward to putting my background and skills to work to help the company achieve exceptional results for our customers, employees, and stakeholders,” said Babs Doherty.

About Eagle Ray, Inc.
Founded in 2002, Eagle Ray is an agile mid-tier business delivering a full range of business and technical capabilities to solve critical programmatic and technical problems across the intelligence community, Department of Defense, Homeland Security, and Financial Regulatory agencies. Eagle Ray is an ISO9001:2015 registered company headquartered in Chantilly, Virginia with 50 staff in the DC Metropolitan Area, Norfolk and Tampa, Florida. Capable of providing operational support to multiple customers, Eagle Ray achieves high customer satisfaction ratings with a reputation of solid delivery and trusted agent expertise.

About Preferred Systems Solutions, Inc.
Founded in 1991, PSS, headquartered in McLean, Virginia, provides reliable, cost-effective solutions in the core areas of Systems & Software Engineering, Data Analytics & High Performance Computing, Cyber Security & Cloud Mission Support, Acquisition, Financial Management, & Program Support and Outsourced Financial & Information Technology solutions. PSS has a strong and diverse Government and commercial client base with key customer relationships in the Department of Defense (DoD), Intelligence Community (IC), and Civilian agencies including the U.S. Army, U.S. Navy, U.S. Air Force, Department of Homeland Security (DHS), Defense Logistics Agency (DLA) and the U.S. Transportation Command. PSS has over 250 employees engaged in more than 60 projects in more than 20 states. For more information, visit, or email

About CM Equity Partners
CM Equity Partners is a private equity firm focused on the federal services and aerospace and defense industries. Since its founding in 1992, CMEP has made more than 50 acquisitions and investments in the federal services sector. CMEP’s team brings an active and collaborative management approach to its investments by partnering with management teams, developing long-term strategic plans and supporting re-investment of profits to grow and broaden a company’s revenue base and capabilities. Additional information about CMEP is available at

Preferred Systems Solutions, Inc.
Ashley Cabrera
(571) 370-9754