Madison Dearborn Partners acquires tech research provider / fotograzia

The private equity firm adds another government contractor to its portfolio of investments in the market.

Private equity firm Madison Dearborn Partners is embarking on its next investment in the government market through the acquisition of T2S Solutions, a provider of research-and-development services that include prototyping.

T2S opened for business in 2010 and today employs approximately 250 people that work on the creation, fielding and integration of new technologies for government agencies including defense and intelligence.

Terms of the transaction announced Wednesday were not disclosed, while T2S' co-founders Tim Gay and Tim Jahnigen will hold a minority ownership and are slated to continue in their respective roles as CEO and chief growth officer.

Some of T2S' core tech focus areas include space, artificial intelligence and machine learning, cybersecurity, electronic warfare and high-altitude platforms. The company also works on products for assured positioning, navigation and timing.

“With MDP’s resources and expertise, we will be able to accelerate our existing R&D and prototyping core, capture lead production roles, and further increase our investments in proprietary technology products from our R&D pipeline," Jahnigen said in a release.

Madison Dearborn Partners is an active investor in the government market through portfolio companies such as the space systems integrator LinQuest, special mission airborne technology maker AEVEX Aerospace, space-based cyber firm SpiderOak and procurement management software provider Unison.

The backing of LinQuest is in partnership with CoVant Managementf, with whom Madison Dearborn worked with to back LGS Innovations through its growth and eventual sale to CACI International in 2019.

BofA Securities worked as financial advisor to T2S and Holland & Knight LLP provided legal counsel. Raymond James acted as financial adviser to MDP, whose legal counsel were Kirkland & Ellis and Crowell & Moring.