NewSpring Holdings has officially announced the acquisition of C Speed, a leading provider of advanced radar systems and engineering solutions for both civilian and military applications.
According to certain reports, the stated acquisition will create the next platform company under NewSpring Holdings Federal Platform, a group of innovative businesses that provide critical services and solutions to meet wide-ranging and sophisticated needs of the U.S. Government.
To give you some context, for 30 long years now, C-Speed has been protecting national and international borders and assets through its air, land, as well as maritime surveillance technologies and security services. As for how it does so, the answer resides in its technologies that focus on designing, prototyping, and manufacturing state-of-the-art, software-defined radar systems. Within the given area, the company’s strong suits have been radar receivers, exciters, and signal processors which deliver innovative and high-performance solutions to government agencies and commercial clients. C-Speed’s stature is further aided by the clients it has served so far, with organizations like U.S. Air Force, U.S. Army, U.S. Navy, Department of Homeland Security (DHS) and NATO making the cut.
“An era of rapidly evolving threats, accelerated innovation cycles, and scrutiny on spending effectiveness and efficiency present unique challenges for the defense and federal sector broadly. More than ever, we see the crucial role of an innovative partner that delivers integrated, modular sensing capabilities at a competitive price point,” said Lee Garber, General Partner at NewSpring. “Our partnership with C Speed aligns with NewSpring’s vision to support growth and innovation within the national security and defense sector.”
Making the whole equation even better is NewSpring Holdings’ own ability to leverage proven organic growth strategies and a disciplined M&A process for the purpose of accelerating growth in thesis-driven markets, including logistics, fin-tech, government services, IT services, and sports. Such an approach, in essence, is understood to include collaborating with skilled operators and experienced management teams who possess domain expertise in highly fragmented markets to create exceptional value. The company’s excellence in what it does can also be gauged once you take into account the fact that it currently manages more than $3.5 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt.
Moving forward, as it has been the case with all NewSpring Holdings Federal Platform companies, C-Speed can expect to receive strategic guidance of the NewSpring Holdings Federal Advisory Board, a group of accomplished and deeply experienced federal services experts.
Not just that, under the given transaction, NewSpring Holdings is also appointing Andy Maner, former CEO of Avantus, and Lt. Gen. Kevin McLaughlin, USAF (Ret.) to the C Speed Board of Directors to further drive strategy, execution, and value creation. While Maner will serve as Executive Chairman, General McLaughlin will assume the responsibility of a Senior Advisor, banking upon his 41+ years of experience in the space and cyberspace business.
“Given the federal government’s increasing emphasis on domestic border security and force protection for the U.S. Military and our allies, we see massive opportunity for C Speed. NewSpring Holdings has a proven track record of taking successful lower-middle-market businesses and applying its repeatable, thesis-driven value creation approach to elevate their growth potential,” said Andy Maner, NewSpring Holdings Federal Advisory Board Chair. “We’re building a holistic portfolio of federal services companies designed to meet the evolving needs of government agencies, and we look forward to driving growth and amplifying C Speed’s impact in this critical sector.”
