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KippsDeSanto & Co. advises iNovex Information Systems Inc. on its strategic investment from Enlightenment Capital

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KippsDeSanto & Co. advises iNovex Information Systems Inc. on its strategic investment from Enlightenment Capital

KippsDeSanto & Co. is pleased to announce the strategic investment in its client, iNovex Information Systems Inc. (“iNovex” or the “Company”), by Enlightenment Capital (“Enlightenment”).

Headquartered in Maryland, iNovex is a provider of full-stack software development solutions focused on cybersecurity, signals intelligence, data analytics, and robotic process automation for the Intelligence Community.  The Company builds and supports key systems of record that address complex mission requirements critical to national security and enable the full continuum of mission management from sensor to finished intelligence data.

Enlightenment’s knowledge and expertise in the government and technology vertical will help accelerate growth and investments in innovative products and services to build a mid-tier Intelligence Community focused platform with a mission to support critical National Security programs.

We believe this transaction highlights several key trends in the M&A market:

  • Companies providing cybersecurity and advanced data & analytics solutions for high-profile Intelligence Community customers remain highly coveted in the market;
  • Strong preference for firms with prime positions supporting unique and notable intelligence programs of consequence with significant backlog, long-term visibility, a highly cleared employee base and exemplary past performance;
  • Continued demand for companies that are poised to capitalize on key market growth drivers (e.g., full stack software development, cybersecurity, data & analytics, RPA, AI/ML, cloud, mission management); and
  • Robust financial sponsor activity and appetite for investments, particularly for companies with leading market positions, differentiated mission-focused tech-enabled services capabilities, enduring customer relationships, employee-centric culture, and proven leadership teams

About KippsDeSanto & Co. KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 175 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency.

Press Release 

Columbia, Maryland – November 30, 2022:  Enlightenment Capital, an Aerospace, Defense, Government & Technology (ADG&T) investment firm based in the Washington, DC area, announced it has made a strategic investment in iNovex, a provider of software solutions, cybersecurity, Signals Intelligence (SIGINT), data analysis, and robotic process automation for the Intelligence Community (IC).

“This partnership provides iNovex with the financial and strategic resources needed to build a mid-tier Intelligence Community focused platform with a mission to support critical National Security programs,” said Jason Rigoli, Partner at Enlightenment Capital. “Gary Daigle (CEO) and Bob Phibbons (President) have built an impressive business, which is a recognized leader in the community, and we are thrilled to partner with them. We plan to continue to invest in the platform and drive growth – both organically and through strategic M&A – to put the company in a position to better support its customers.”

“Enlightenment is our ideal investment partner, and we are thrilled to join forces with them as they understand the sector and the critical mission needs of the national security community,” said Gary Daigle, CEO of iNovex. “Securing an investment partner is an important piece of iNovex’s strategy and will accelerate our investments aimed at enhancing our products and services, driving innovation, and introducing key relationships to strengthen iNovex and bring more value to our customers.”

“Enlightenment’s partnership will greatly benefit our customers and employees, building upon the past successes of iNovex,” said Bob Phibbons, President of iNovex. “Enlightenment’s reputation and experience supporting companies within the Intelligence Community creates an exciting pathway that enables us to accelerate our growth while preserving our company’s culture.”

About iNovex

Founded in 2005 and headquartered in Columbia, MD, iNovex provides software development, cybersecurity, Signals Intelligence (SIGINT), data analysis, and robotic process automation to solve our customers’ toughest mission challenges in the federal government and commercial sectors. For more information, visit www.inovexcorp.com and follow us at www.linkedin.com/company/inovexcorp.

About Enlightenment Capital

Enlightenment Capital, a Washington, DC area based private investment firm, provides flexible capital and strategic support to middle-market companies in the Aerospace, Defense, Government & Technology (ADG&T) sector. The firm partners with businesses that provide vital services, protect critical infrastructure, innovate cyber and data solutions, enhance decision making capabilities, engineer aerospace and space systems, safeguard national security, and endeavor to meet the challenges of today and tomorrow. For more information, visit www.enlightenment-cap.com and follow us at www.linkedin.com/company/enlightenment-capital.

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KippsDeSanto’s DealView – Top 10 M&A Deals of the Quarter

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KippsDeSanto’s DealView — Top 10 Merger & Acquisition (“M&A”) Deals of the Quarter

KippsDeSanto & Co., an investment banking firm focused on serving growth-oriented Aerospace & Defense (“A&D”) and Government Technology Services (“GTS”) companies, is pleased to share its DealView – the “Top 10 M&A Deals of the Quarter” – for the quarter ended March 31, 2022.

Of the above transactions, the following were especially noteworthy:

The A&D deal of the quarter is SES S.A.’s (Paris: SESG.PA) pending acquisition of Leonardo DRS Global Enterprise Solutions Group (“DRS GES”). DRS GES provides satellite services, network and telecommunications, electronic and cyber security solutions, and aviation maintenance services to private sector and U.S. federal government defense and intelligence markets. SES operates a fleet of more than 70 geosynchronous and medium Earth orbit satellites. SES plans to combine DRS GES with SES Government Solutions (“SES GS”), taking advantage of their shared cultures and deep commitment to providing secure, global solutions to unite the state-of-the-art multi-orbit satellite networking capabilities of SES GS with DRS GES’s experience in satellite communications integration. US Government customers will also benefit from technical and commercial simplification, while ensuring continuity of high-performance satellite-enabled solutions. The transaction values the Global Enterprise Solutions Group at $450 million. The consolidation of DRS GES with SES GS is expected to add about $40 million of EBITDA and will benefit from the combination of future business expansion and $25 million of annualized run-rate synergies, including opportunities to support and enhance existing networks and services with the SES multi-orbit network. Finalization of the deal is targeted for the second half of 2022 subject to regulatory approvals.

The GTS deal of the quarter is the pending all-stock merger of Vectrus, Inc. (NYSE: VEC) (“Vectrus”) and The Vertex Company (“Vertex”), a portfolio company of private equity group, American Industrial Partners. Headquartered in Colorado Springs, CO, Vectrus provides systems integration, operations, sustainment, engineering, logistics, and space launch and range support solutions and services to military customers and government agencies around the world. Madison, MS based Vertex provides vertically integrated lifecycle support, offering aviation maintenance, logistics support, systems engineering and integration, onsite mission execution, high consequence training programs, and integrated supply-chain solutions. The combined company will offer an expanded suite of integrated technology solutions and critical services to help support national security and military convergence. Following the merger, the company will take on a new name and remain listed on the New York Stock Exchange with headquarters in Northern Virginia. Under the terms of the merger, Vertex shareholders will own about 62% of the combined company and Vectrus shareholders will own approximately 38% on a fully diluted basis, valuing Vertex at $2.1 billion. The combined company would have 2021 pro forma revenue of approximately $3.4 billion and adjusted EBITDA of approximately $283 million, which includes $20 million of estimated cost synergies. This transaction highlights the growing trend of public GTS companies providing value to shareholders through M&A, in addition to organic growth efforts. Vertex is one of four public GTS companies to announce or close an M&A transaction in the first quarter of 2022, along with Booz Allen Hamilton (NYSE: BAH), CACI Inc (NYSE: CACI), and ManTech International (NASDAQ: MANT). Following the closing of this transaction, Chuck Prow, Vectrus CEO, and Susan Lynch, Vertex CFO, will serve as CEO and CFO of the combined company, respectively. The merger is expected to close in the third quarter of 2022.

KippsDeSanto & Co is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 175 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Securities and investment banking products and services are offered through KippsDeSanto & Co., a non-banking subsidiary of Capital One, N.A., a wholly owned subsidiary of Capital One Financial Corporation. KippsDeSanto is a member of FINRA and SIPC. Products or services are Not FDIC Insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured By Any Federal Governmental Agency.

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KippsDeSanto & Co. advises Blue Air Training, LLC, on its sale to Top Aces, a portfolio company of Clairvest Group Inc.

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KippsDeSanto & Co. advises Blue Air Training, LLC, on its sale to Top Aces, a portfolio company of Clairvest Group Inc.

KippsDeSanto & Co. is pleased to announce the sale of Blue Air Training, LLC (“Blue Air” or the “Company”), to Top Aces, a portfolio company of Clairvest Group Inc. (“Clairvest”).

Headquartered in Las Vegas, Nevada, Blue Air is one of the preeminent providers of Close Air Support (“CAS”) training for U.S. and foreign military Joint Terminal Attack Controllers (“JTAC”). Blue Air offers a comprehensive, end-to-end suite of training services for JTAC, satisfying its CAS training requirements and ensuring combat readiness. Blue Air’s experienced military CAS instructor pilots provide customized training services designed in collaboration with each customer, including mission planning, logistics support, simulation, platform instruction, live / dry weapons control, day / night control, laser control, multiple asset replication, and mission debrief, among others.

As the pioneer of the CAS training market for JTACs, Blue Air has established an exceptional reputation and enduring relationships with customers such as the U.S. Air Force, the Air National Guard, and Special Operations Terminal Attack Controllers through their high-quality training services. The Company’s fleet of turboprop and jet aircraft and team of highly experienced fighter pilots, special operators, and operations personnel drive realistic and cost-efficient exercises, cultivating in Blue Air’s status as the sought-after industry partner.

Blue Air with Top Aces will be well positioned to capitalize on the fundamental tailwinds of contracted Adversary Air (“ADAIR”) and JTAC training services globally.

We believe this transaction highlights several key trends in the M&A market:

  • Demand for companies with strong past performance and intimacy with well-funded customers
  • Preeminent leaders within high barrier-to-entry industries are rare and highly sought-after in the market
  • Attractiveness of operational synergies, complementary services, market know-how, and significant opportunities for growth

 About KippsDeSanto & Co. KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 175 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency.

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KippsDeSanto & Co. advises CENTERPOINT LLC, on its sale to Gunnison Consulting Group Inc., a portfolio company of Blue Delta Capital Partners

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KippsDeSanto & Co. advises CENTERPOINT LLC, on its sale to Gunnison Consulting Group Inc., a portfolio company of Blue Delta Capital Partners

KippsDeSanto & Co. is pleased to announce the sale of CENTERPOINT LLC. (“CENTERPOINT” or the “Company”), to Gunnison Consulting Group Inc., a portfolio company of Blue Delta Capital Partners.

Headquartered in Leesburg, VA, CENTERPOINT is a leading provider of tailored, end-to-end cybersecurity solutions for US federal civilian, intelligence, and defense agencies. CENTERPOINT offers a comprehensive suite of customer-agnostic end-to-end cybersecurity capabilities, enabling clients to identify and mitigate risks, assure the security of its assets, and measure compliance against constantly evolving information security standards.

Positioned at the forefront of the rapidly-growing and mission-critical federal cybersecurity market, CENTERPOINT holds key contract vehicles and BPAs that grant it wide-reaching customer access. The Company has cemented itself as a trusted partner capable of addressing the complex requirements of each of its customers. CENTERPOINT’s cadre of highly technical, credentialed, and cleared cybersecurity experts drives customer satisfaction and further entrenches existing relationships with customers.

We believe this transaction highlights several key trends in the M&A market:

  • Pure-play assets in high-profile and growing IT modernization verticals such as cybersecurity remain highly coveted in the market
  • Strong preference for past performance and customer intimacy with well-funded customers
  • Mid-sized businesses led by proven management teams, strong revenue and earnings growth, and strategically positioned in both highly technical and well-funded customer segments continue to be attractive accelerators to private equity platforms

 About KippsDeSanto & Co. KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 175 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency.

Press Release

Leading digital transformation contractor for the Federal Government joins forces with next gen cybersecurity solutions provider to form powerhouse full scope services provider

Fairfax, VA — February 24, 2022 —Gunnison Consulting Group, Inc., a leader in digital transformation capabilities for U.S. Federal Government customers, announced today that it has acquired CENTERPOINT, Inc., a leading pure-play cybersecurity solutions provider.

“We are thrilled to add the CENTERPOINT team’s elite cybersecurity skills to the services we offer and are confident this partnership will allow the combined business to solve some of the most pressing IT modernization challenges facing our customers,” said Gil Dussek, CEO of Gunnison. “It is an obvious next step in Gunnison’s growth to have CENTERPOINT’s technical expertise and laser-like focus on high-quality, differentiated solutions matched up with Gunnison’s mission focus and core values.”

Founded in 2014, CENTERPOINT provides tailored cybersecurity solutions for customers across the Federal government. With vast capabilities and experience in cyber defense, response, and strategy, as well as governance solutions that enable secure operation of, and access to, large enterprise data and services, CENTERPOINT strengthens Gunnison’s cutting-edge capabilities and helps define the Company as a leading middle market player in the Federal market.

CENTERPOINT’s leadership team will continue in senior roles at Gunnison, with Ed Silva, Co-CEO and Co-Founder of CENTERPOINT bringing to the combined company his visionary thinking and breadth of experience as Chief Strategy Officer. Additionally, COO-CTO Tony Ambegaoker will become the Chief Information & Innovation Officer of Gunnison.

Baly Ambegaoker, Co-CEO and Co-Founder will join the Gunnison Board of Directors, alongside the former CEO of SRA International, Renny DiPentima, and the former global public sector head of IBM, Anne Altman.

“Gunnison shares our long-standing, core commitment to excellence and focus clients’ missions,” said Silva. Baly Ambegaoker added, “By combining CENTERPOINT’s expertise with that of Gunnison, our rapidly growing platform is well-positioned to scale to new heights in providing innovative services and solutions to the market.”

Holland & Knight served as legal advisor to Gunnison for this transaction. KippsDeSanto was the financial advisor to CENTERPOINT. Financial terms of the deal were not disclosed.

About Gunnison

Gunnison is a trusted partner to Federal Government customers on their most ambitious IT projects. Gunnison is a venture capital backed company delivering cutting-edge solutions in agile software development, data analytics, IT service management, and cybersecurity.

About CENTERPOINT

CENTERPOINT is a pure-play Federal technology company exclusively focused on delivering the next generation in cybersecurity services and solutions. CENTERPOINT provides tailored solutions focused on cyber defense, response, strategy, and governance that enable the secure operation of, and access to large enterprise data and services. More information at: www.centerpoint.biz

KippsDeSanto’s DealView — Top 10 M&A Deals of the Quarter

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KippsDeSanto’s DealView — Top 10 Merger & Acquisition (“M&A”) Deals of the Quarter(1)

KippsDeSanto & Co., an investment banking firm focused on serving growth-oriented Aerospace & Defense (“A&D”), Government Technology Services (“GTS”), and Enterprise Technology (“ET”) companies, is pleased to share its DealView – the “Top 10 M&A Deals of the Quarter” – for the quarter ended December 31, 2021.

Of the above transactions, the following were especially noteworthy:

The A&D deal of the quarter is Tailwind Two Acquisition Corporation’s (NYSE: TWNT) (“Tailwind Two”), a special purpose acquisition company, pending $1.58 billion business combination agreement with Terran Orbital Corporation (“Terran Orbital” or the “Company”). The combined company will operate as Terran Orbital Corporation, with plans to list on the NYSE under the symbol LLAP. The deal will give Terran Orbital access to $345 million of cash from Tailwind Two’s cash-in-trust, $50 million from a private investment in public equity (“PIPE”) with participation from AE Industrial Partners, Beach Point Capital, and Lockheed Martin, as well as $75 million of additional financial commitments from Francisco Partners and Beach Point Capital. This agreement continues the trend of space companies going public through SPAC’s following recent announcements of Redwire, Astra Space, BlackSky, and others. Headquartered in Boca Raton, Florida, Terran Orbital provides satellites for commercial and government customers including military and intelligence agencies, NASA, and the European Space Agency. With the growth capital raised from the business combination, Terran Orbital will be able to expand existing manufacturing capabilities to deliver new technologies quicker and more affordably. Small satellites will play a critical role in the future of space infrastructure and exploration, as well as provide customers with real time data to make informed and actionable decisions. LLAP expects to have a positive adjusted EBITDA by 2023 and ~$3 billion in revenue by 2026, a significant increase from $35 million in revenue expected in 2021. Additionally, LLAP is capitalizing on its fully integrated manufacturing capabilities to launch the most advanced Earth observation constellations of small satellites. This will provide highly persistent, real-time Earth imagery as a service, making Earth observation data more abundant and accessible than ever before. The transaction is expected to close in the first quarter of 2022 subject to shareholder approval and other customary closing conditions.

The GTS deal of the quarter is the $1.9 billion pending acquisition of Pacific Architects and Engineers (NASDAQ: PAE) (“PAE”), by Amentum Government Services Holdings, LLC (“Amentum”), a portfolio company of Lindsay Goldberg and American Securities, LLC, in an all-cash transaction. Headquartered in Arlington, VA, PAE provides a broad range of services and operational solutions for the U.S. government, allied governments, and international organizations. The combined company will become one of the largest Federal government contractors, with more than $9.0 billion in annual revenue. The addition of PAE will complement Amentum’s intelligence and technology services capabilities, expand customer relationships across the Department of Defense (“DoD”), Department of State, NASA, and the Intelligence Community (“IC”), and significantly increase Amentum’s scale and suite of capabilities. The transaction reinforces the ongoing prioritization by buyers of acquisition targets with deep relationships with difficult to penetrate customers within the DoD and the IC. Other recent acquisitions of targets with embedded positioning across the DoD/ IC include the acquisition of Asymmetrik by BlueHalo and of Entegra Systems, LLC, by Acclaim Technical Services. Under the merger agreement, PAE shareholders will receive $10.05 per share in cash, a 70% premium to PAE’s closing price on the last day of trading prior to the announcement. This is the third acquisition this year of a public target by a private equity-sponsor or portfolio company. In May, Veritas Capital and Evergreen Coast Capital acquired Cubic Corporation (NYSE: CUB) for $3.0 billion, and Peraton (a portfolio company of Veritas Capital) acquired Perspecta Inc. (NYSE: PRSP) for $7.1 billion. PAE shareholders have yet to approve the transaction, following the end of a “go-shop” period on November 29, 2021. However, PE Shay Holdings, LLC, which currently owns 22.5% of PAE’s outstanding shares, has agreed to vote to approve the transaction in accordance with management. The deal is expected to close in the first quarter of 2022.

KippsDeSanto & Co is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 140 industry transactions since 2007, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience. For more information, visit www.kippsdesanto.com.

Securities and investment banking products and services are offered through KippsDeSanto & Co., a non-banking subsidiary of Capital One, N.A., a wholly owned subsidiary of Capital One Financial Corporation. KippsDeSanto is a member of FINRA and SIPC. Products or services are Not FDIC Insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured By Any Federal Governmental Agency.

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KippsDeSanto & Co. advises Markon Solutions on its merger with Anser Advisory, LLC, a portfolio company of Sterling Investment Partners

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KippsDeSanto & Co. advises Markon Solutions on its merger with Anser Advisory, LLC, a portfolio company of Sterling Investment Partners

KippsDeSanto & Co. is pleased to announce the merger of Markon Solutions (“Markon” or the “Company”) with Anser Advisory, LLC, a portfolio company of Sterling Investment Partners.

Headquartered in Falls Church, VA, Markon is a leading management consulting and advisory firm addressing critical infrastructure and mission support for a national security customer base, spanning the Intelligence Community (“IC”), Department of Defense (“DoD”), and Federal and Civilian (“FedCiv”) agencies.

Backed by a team of highly-cleared engineers, architects, program / construction managers (“PM/CM”), and security professionals, Markon has a deep heritage supporting and managing its customers’ most critical secure infrastructure, capital projects, and

related mission requirements, to include facilities management, security, technology, finance, and training. The Company’s comprehensive consulting solutions and embedded positions supporting its well-funded, high-profile customers has positioned Markon at the forefront of the Federal secure facilities and infrastructure market with several well-established growth opportunities to support the accelerated need of customers to protect their most critical assets.

The acquisition adds Markon’s expansive Federal market consulting expertise to Anser’s existing civil and social infrastructure portfolio.

We believe this transaction highlights several key trends in the Federal consulting M&A market:

  • Secure infrastructure and critical missions support remain well-funded and of vital importance to broader National Security objectives;
  • Acquirers continue to attribute strong value to companies with entrenched customer positioning and longstanding incumbency on mission-critical programs;
  • Deep domain and subject matter expertise, paired with highly differentiated management consulting models, remain critical differentiators for sellers; and
  • Private equity continues to deploy capital in the government services market – via new platforms and add-ons to existing portfolio companies to further diversify current offerings and further build the middle market

About KippsDeSanto & Co. KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency.

Press Release

Anser Advisory and Markon Solutions Announce Merger

Santa Ana, CA. — October 12, 2021 – Anser Advisory (“Anser”), the 17th largest PM firm according to ENR, second fastest growing AE firm in 2020 according to Zweig Group, and a Certified Great Places To Work organization, and Markon Solutions (“Markon”), the 33rd PM-for-Fee and 61st CM-for-Fee firm in 2021 according to ENR and a perennial Washington Post Top Workplaces firm, are pleased to announce the merging of their organizations.

The combination of Anser and Markon creates a 650+ employee organization comprised of world-class leaders and innovators who support mission critical projects globally for some of the nation’s most prestigious organizations, including the intelligence community, federal civilian and defense agencies, transportation, aviation, water/wastewater, energy, education, housing, cultural, healthcare and municipal clients.

Markon will operate as a wholly-owned subsidiary of Anser Advisory, a portfolio company of Sterling Investment Partners. Existing clients of both firms should expect no noticeable change in personnel or support.

Anser’s CEO Bryan Carruthers noted, “The combination of our organizations is transformative. The Markon expertise within the federal market, particularly the intelligence community and civilian and defense agencies, coupled with their established presence within the Virginia/Maryland/DC area are perfectly complementary to the Anser expertise in aviation, transportation, water, education, and energy. Our combined organization will continue to deliver innovative solutions coupled with world-class people in support of our client’s critical missions across federal, civil, and social infrastructure. Markon’s President Matt Dean and I are thrilled to bring our organizations together.”

“Joining with Anser Advisory not only better positions us to compete against the most successful firms in federal contracting, but also provides great depth and variety in terms of the opportunities it creates for our employees,” added Matt Dean. “We will continue to serve our current clients as Anser’s federal division, and our employees will also have the ability to support a larger platform of projects both locally and across the country. Being part of a growing company creates more opportunities for all. Furthermore, this will enable greater investment in innovation, especially as it relates to our security and enterprise technology solutions, which represent new territory for Anser’s platform.”

Markon will initially operate as Markon Solutions, an Anser Advisory Company. Together, the companies will ultimately co-create the framework for a fully integrated organization under the Anser Advisory brand.

Houlihan Lokey served as financial advisor, and Dechert LLP, Seyfarth Shaw LLP, and Morrison & Foerster LLP acted as legal counsel, to Anser Advisory and its affiliates.

KippsDeSanto & Co. served as exclusive financial advisor, and Greenburg Traurig provided legal counsel, to Markon Solutions.

About Markon Solutions

Founded in 2007, Markon Solutions is a nationally recognized professional services firm headquartered in Falls Church, VA. With an elite team of high-performing leaders and innovators, we serve as trusted advisors managing tasks on behalf of our clients, so that they can stay focused on their mission. Markon’s impressive workforce leads with humility and respect, takes initiative, puts corporate and client integrity before personal gain, and are champions of fostering a diverse and inclusive workplace culture where our employees and clients benefit from a wide range of collective viewpoints, experiences, and talents. Specializing in six core service areas—acquisition, finance, facilities, security, enterprise technology, and training—Markon is consistently recognized on the ENR Top 50 Program Management and Top 100 Construction Management-for-Fee Firms, Washington Post Top Workplaces, and Virginia Business Best Places to Work lists. Markon is also a 2021 Top Workplaces USA winner, as well as the first GEN (Gender Equity Now) certified organization on the East coast and in the government contracting industry.

About Anser Advisory

Anser Advisory is an ENR Top 50 Program Management firm, and Great Place to Work® designated 2021 Best Workplaces in Consulting & Professional Services™, specializing in capital program advisory and consulting services, organization preparedness, strategy, funding, process development, program controls and project, program, and agency construction management. Anser offers clients solutions that address owner pain points across the capital development cycle from pre-planning through construction and closeout within a diverse range of social and civil infrastructure end markets.

About Sterling Investment Partners

Sterling Investment Partners is a private equity firm that has been investing in and building middle-market companies for over 30 years with a highly experienced, cohesive team of senior investment professionals. Sterling focuses on business services and value-added distribution, investing in businesses that the firm believes have strong, sustainable competitive advantages and significant opportunities for value creation. The firm has completed transactions representing $19.4 billion in gross transaction value since inception. www.sterlinglp.com.NEW YORK – J.F. Lehman & Company (“JFLCO”), a leading middle-market private equity firm focused exclusively on the defense, aerospace, maritime, government and environmental industries, announced today that investment affiliates have sold BEI Precision Systems & Space Company, Inc. (“BEI Precision” or the “Company”) to Quantic Corporate Holdings, Inc. (“Quantic Electronics”), a portfolio company of Arcline Investment Management. Terms of the transaction were not disclosed.

 

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KippsDeSanto & Co. advises ATL Partners on its acquisition of GEOST, Inc.

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KippsDeSanto & Co. advises ATL Partners on its acquisition of GEOST, Inc.

KippsDeSanto & Co. is pleased to announce the acquisition of GEOST, Inc. (“GEOST” or the “Company”) by our client, ATL Partners.

Founded in 2004 and headquartered in Tucson, Arizona, GEOST is a rapidly growing company that specializes in the design and integration of small-to-medium sized electro-optical / infrared sensors, primarily serving the U.S. Department of Defense (“DoD”) and Intelligence Community.

GEOST’s offerings span a range of applications, including space domain awareness, intelligence, surveillance & reconnaissance, missile warning, and laser communication. The Company is well-positioned within its core market, as federal funding continues to prioritize the space domain and its myriad mission-critical applications.

We believe this transaction highlights several key trends in the Space / Aerospace / Defense M&A market:

  • Significant interest for companies aligned with priority funding domains such as space, particularly with mission-critical applications
  • Attractiveness of companies at an inflection point in their growth cycle, who will benefit from the right investment partnership to accelerate organic and inorganic growth initiatives
  • Strong appetite for well-positioned assets that have successfully navigated the macroeconomic impacts of the COVID-19 pandemic

About KippsDeSanto & Co.

KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Space / Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 175 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency

 Public Press Release

NEW YORK–(BUSINESS WIRE)–ATL Partners (“ATL”) announced today that it has made a majority investment in GEOST, LLC (“GEOST” or the “Company”). Headquartered in Tucson, Arizona, GEOST is a leading designer and integrator of small-to-medium sized electro-optical/infrared sensors for high-value, national security space missions. ATL’s investment will support GEOST as the Company enters the next phase of growth.

Since its founding in 2004, GEOST has been focused on the cutting edge of the United States Department of Defense and the intelligence community’s efforts to enhance the country’s national security capabilities in space through optical systems and solutions. GEOST is a leading provider of small and medium, low-cost payloads for space domain awareness, intelligence, surveillance and reconnaissance, missile warning, and laser communication applications. These markets are experiencing rapid growth as the United States increases its focus on new architectures to enhance the survivability and resiliency of its national security space assets.

“GEOST is experiencing an exciting phase of growth and we are very excited to have found a partner in ATL to help us scale with our customers. They share our enthusiasm for the GEOST mission to support national security space programs as we work to address the near-peer threat in space,” said Dr. Anthony (Tony) Gleckler, President and Founder of GEOST. “We were energized when ATL approached us with an investment thesis that aligned so well with our vision and they will support us as we invest in future opportunities.”

“GEOST represents a truly unique asset in the space market that punches well above its weight. It will serve as ATL’s platform to invest in industry-leading technology and capabilities in the space domain that address the national security needs of the United States and its allies,” said Sanjay Arora, Partner at ATL, and Michael Kramer, Principal at ATL. “We are excited to partner with Tony and the GEOST management team to accelerate the Company’s growth through organic initiatives as well as strategic acquisition opportunities.”

Quilty Analytics served as financial advisor and Williams Mullen P.C. served as legal counsel to GEOST. KippsDeSanto & Co. served as financial advisor and Gibson, Dunn & Crutcher LLP served as legal counsel to ATL.

About GEOST:

GEOST is a rapidly-growing designer and integrator of small-to-medium sized, electro-optical / infrared sensors for high-value, National Security Space missions. The Company was founded in 2004 and has served its core National Security Space customer base since inception. GEOST employs more than 75 professionals and is headquartered in Tucson, AZ with additional facilities in Virginia.

About ATL Partners:

Founded in 2014, ATL Partners is a premier sector-focused private equity firm that invests in aerospace, transportation and logistics companies. ATL brings deep sector expertise to its investment approach with 10 investment professionals and six Executive Board members who have decades of combined operating experience in each of ATL’s core sectors. For more information about ATL Partners, visit www.atlpartners.com.

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KippsDeSanto & Co. advises CRAssociates, Inc. on its sale to Valor Healthcare, a portfolio company of Trive Capital

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KippsDeSanto & Co. advises CRAssociates, Inc. on its sale to Valor Healthcare, a portfolio company of Trive Capital

KippsDeSanto & Co. is pleased to announce the sale of its client, CRAssociates, Inc. (“CRA” or the “Company”) to Valor Healthcare (“Valor”), a portfolio company of Trive Capital.

Headquartered in Newington, Virginia, CRA is a leading operator of Community-Based Outpatient Clinics (“CBOCs”) for the Department of Veterans Affairs nationwide, providing the U.S. Veteran population with easy and convenient access to quality healthcare. These clinics provide outpatient services, including but not limited to routine diagnostic procedures, immunizations, behavioral healthcare, and health and wellness visits.  In addition, CRA manages an acclaimed occupational health program with multiple clinics spanning several states.

The transaction is expected to enhance Valor’s geographic reach and strengthen its position within existing core markets.

We believe this transaction highlights several key trends in the Government Services M&A market:

  • Enhanced interest in health-related markets given ongoing demographic and anticipated budget trends
  • Significant interest for companies with entrenched customer relationships and strong past performance qualifications
  • Private equity continues to aggressively deploy capital through its existing portfolio companies to supplement growth and accelerate to scale

About KippsDeSanto & Co.

KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency

 Press Release

October 5,2021

Valor Healthcare Acquires CRAssociates

 Dallas, Texas – Valor Healthcare, Inc. (“Valor” or the “Company”), a portfolio company of Trive Capital, is excited to announce its recent acquisition of CRAssociates, Inc. (“CRA”).  Founded in 1997 and headquartered in Springfield, VA, CRA is an outsourced provider of Community-Based Outpatient Clinics (“CBOC”) for Veteran Affairs Medical Centers. Key service offerings include design and development of mission critical healthcare facilities logistics and management of healthcare professionals to provide comprehensive, cost-effective healthcare services for government and corporate clients throughout the United States.

Dr. Scott Wise, CEO of Valor and a veteran himself stated, “Valor is a leader in the CBOC market, and we are excited about the addition of the CRA leaders and staff to join in our continued success and expansion. We share in our passion for the mission and look forward to continuing to enhance our healthcare service offerings for our federal government partners.”

“We would only embark on the transfer of our CRA family to the best leader in our industry as we believe there is no compromise on quality and doing what is right for our veterans,” commented Charlie “Chief” Robbins, COO, Senior Executive Vice President at CRAssociates, Inc.  “With their leadership and combined CRA leadership we now have here at CRA, Valor becomes a powerful leader postured for growth and success for the future across the U.S.”

Conner Searcy, Managing Partner at Trive, added, “We have been pleased with our partnership with the Valor management team and continue to be firm believers in the Company’s mission. The addition of CRA is the first step in expanding the Company’s reach in serving our nation’s veterans and brings additional capabilities in the occupational health and wellness space. The team is keen on continuing to provide high quality healthcare and ancillary services in our communities and serving federal government customers.”

Valor is actively seeking add-on opportunities in the federal agency contracted healthcare services industry, including but not limited to, medical or medical facility contracting, mental health and behavioral services, onsite healthcare and wellness for federal offices, government and medical staffing, and OCONUS opportunities within the healthcare and government contracting industries.

About Valor Healthcare, Inc.

Valor Healthcare Inc. will now operate more than 50 VA community-based outpatient clinics in the United States as a contractor for the US Department of Veteran Affairs. Valor provides a full range of medical services to veterans through the operation of CBOCs tailored to meet the specific needs of local VA medical centers. The company’s comprehensive set of services includes primary care, diagnostics, laboratory, telehealth, behavioral health, and occupational health and wellness.

About Trive Capital

Trive Capital is a Dallas, Texas based private equity firm with approximately $3.6 billion in assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.

The Trive team is comprised of seasoned investment professionals who have been involved in over 100 middle-market transactions representing in excess of $6 billion in revenue across Trive’s targeted industry sectors and situations.

Getting Deals Done 2021

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