NewSpring adds third contractor to its federal holdings

Avantus Federal was once the only government contractor that private equity firm NewSpring Holdings owned before the late 2022 sale of that company to QinetiQ’s U.S. subsidiary.

NewSpring then took some time to consider its next steps for a re-entry into the market before doing so through its July 2023 acquisition of what is now Bcore. Just this month, NewSpring purchased a second GovCon company in the radar system maker C Speed.

Xpect Solutions has now become third federal market company to be acquired by NewSpring in a transaction announced Monday with terms undisclosed.

Founded in 2004, Xpect specializes in engineering and network infrastructure service for agencies that have extensive security and reliability requirements for technology. Cybersecurity, cloud computing services and data center management represent other core work areas for Xpect.

The company has recorded approximately $17.3 million in unclassified prime contract revenue over the trailing 12 months. The FBI represents 62% of that spend and the National Institutes of Health making up the rest, according to USASpending.gov data.

As part of the transaction, NewSpring is bringing in a pair of law enforcement and national security industry veterans to lead Xpect in this new phase.

Yusuf Abdul-Salaam has joined as chief executive following 15 years at companies such as Paradyme Management and ECS Federal. Amaha Tsegaye was appointed chief operating officer and worked with Abdul-Salaam at those two companies.

Former Xpect CEO Ash Halim will move into the role of president, while 25-year FBI veteran Tom Sobocinski has joined the company’s board of directors. Sobocinski’s FBI career includes service as deputy assistant director for its international operations division.

NewSpring was advised by Blank Rome and PwC. KPMG and Miles & Stockbridge served as were the advisers to Xpect.