Sagewind Capital, Jordan launch new government platforms

Well then… let’s just pick back up where we left off in our roundup of deals Monday with two new transactions that see private equity firms enter new investments in the government market.

Sagewind Capital has added a fourth platform to its government services portfolio in sensor data services firm Sigma Defense Systems.

Terms of that transaction announced Wednesday were undisclosed. In tandem with the deal, Sigma Defense said it hired former Special Operations Command Chief Information Officer John Wilcox as CEO and veteran SAP NS2 executive Matt Jones as president.

Scott Ritchie and Thor James, Sigma Defense’s founders, will respectively remain with the company as chief growth officer and chief operating officer. They will also retain a significant equity ownership.

Perry, Georgia-based Sigma Defense ground-based tactical-relay, sensor data backhaul systems to defense and intelligence agencies looking to send information to operators and analysts worldwide.

Sagewind's portfolio also includes By Light, GCOM and QuantiTech -- all of which have made acquisitions with the former's backing.

Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as Sagewind's legal counsel. DC Advisory served as exclusive financial adviser to Sagewind. Maynard Cooper & Gale served as legal counsel to Sigma Defense.

Meanwhile: The Jordan Company has invested in Innoflight Holdings, a maker of avionics and other types of electronics for satellites and other space platforms.

Terms of that deal announced Monday were undisclosed. Founder and CEO Jeff Janicik will continue to lead the San Diego-based company as chief executive.

Innoflight was founded in 2004 and touts its core focus as on compact, software-defined, cyber-secure and integrated avionics to support network connections between satellites and ground stations.

Last year, the company was awarded a Small Business Innovation Research Phase II contract from the Air Force to prototype a new space node processor for improving the resiliency of space-based communications networks.

Jordan’s other major platform in the government market is VTG, the defense technical services company acquired in 2012 when it was known as VT Group.

Mayer Brown LLP served as legal counsel to Jordan for the Innoflight transaction. Duff & Phelps Securities, LLC served as financial adviser, Blank Rome LLP served as legal counsel and Newport LLC as strategic advisers to Innoflight.