Intell community IT firm gets new investor backing
- By Ross Wilkers
- Nov 06, 2019
Intrepid Solutions and Services, an enterprise IT services provider for intelligence agencies, has received an investment from private equity firm Bluestone Investment Partners
Sterling, Virginia-based Intrepid also received backing from Route 2 Capital Partners, a private investment fund designated as a Small Business Investment Company by the Small Business Administration.
SBIC program participants use agency-supported loans for their investments in small businesses and received $2 for every $1 put into those firms. The goal is to generate more capital that investors can direct toward other businesses.
In the case of Intrepid, the company plans to use its new backing in support of organic growth initiatives and potential acquisitions.
"Intrepid has achieved a level of growth and scale that makes it an attractive platform. The company's accomplishments are especially impressive considering it has not previously utilized outside capital,” John Allen, Bluestone co-founder and managing partner, said in a release.
Bluestone focuses exclusively on lower middle-market companies in the defense and government services markets.
Pillsbury, Winthrop, Shaw, Pittman acted as Bluestone's legal adviser in the transaction. PilleroMazza PLLC and McCandlish Lillard were legal advisers to Intrepid. Aronson Capital Partners was the investment banking adviser to Intrepid.
Ross Wilkers is a senior staff writer for Washington Technology. He can be reached at firstname.lastname@example.org. Follow him on Twitter: @rosswilkers. Also connect with him on LinkedIn.