Fvlcrum Funds has acquired Fidelity Technology Services (FTS), a provider of military simulation training systems and services to the US Department of War and allied nations, for undisclosed terms. FTS will join Fvlcrum’s portfolio of IT, simulation, services and training providers, which includes Advanced IT Concepts, as part of the firm’s Project Maverick strategy.
The combined group forms a flight simulation and training platform with capabilities across all branches of the US military. Founded in 1987 and headquartered in Reading, Pennsylvania, FTS provides training and simulation services to the US Navy, US Air Force and allied defense partners worldwide.
Advanced IT, an existing Fvlcrum portfolio company, provides IT infrastructure integration, cybersecurity, simulation and other government services. The two businesses will operate as independent entities for contracting purposes and will roll up under the Fvlcrum Maverick Acquisition Company, a structure intended to let them collaborate on opportunities. Juan Navarro, CEO of Maverick, will lead the strategy.
Fvlcrum partner Andre Castillo said the deal reflects the firm’s commitment to “serving the readiness of U.S. military personnel” through partnerships with management teams and investments in businesses providing essential services.
Source: PE Hub · Summarized by HeadlinesBriefing