Fulcrum IT acquires the PTR Group
Boyne Capital announced on February 20 that its portfolio company, Centreville, VA-based Fulcrum IT Services, LLC has acquired The PTR Group, a provider of innovative software engineering, cyber security, real-time and embedded systems, Internet of Things (IoT) engineering, Software Defined Networking (SDN) and Machine to Machine (M2) engineering solutions. The acquisition expands Fulcrum’s growth in the Research and Development (R&D) and Intelligence markets to include Cyber Operations and Research, Satellite and Robotic Control Software Engineering and Embedded Development. The acquisition reinforces Fulcrum’s commitment to providing pivotal performance to its clients leveraging leading edge solutions.
PTR strengthens Fulcrum’s intelligence business and expands Fulcrum’s client portfolio including direct support to the Defense Advanced Research Projects Agency (DARPA), National Geospatial-Intelligence Agency (NGA), the Naval Research Laboratory and NASA providing real-time and distributed system technologies and software for military and space applications.
The acquisition bolsters Fulcrum’s innovative technology support to its clients on evolving platforms leveraging emerging technology. Fulcrum CEO Jeff Handy said, “this acquisition expands Fulcrum’s cyber capabilities and solidifies Fulcrum’s entry into the R&D markets complementing a mindset of innovative concepts and solutions to support cutting edge mission requirements.” As thought leaders both Fulcrum and PTR strive to stay on top of emerging technologies that can advance capabilities and change outcomes in support of our client’s objectives.
Fulcrum also entered into an expanded senior credit facility that supports Fulcrum’s realized growth and further growth initiatives driven by recent contract surges and awards, a robust pipeline, and a continued pursuit of acquisitions that strengthen Fulcrum’s solutions and service set.
Derek McDowell, managing partner of Boyne, said, “Boyne is thrilled to support the Fulcrum team, led by Jeff Handy and Carroll Johnson, in its sixth strategic acquisition since we partnered with Grindstone Partners and Fulcrum’s management team to invest in Fulcrum. Jeff and Carroll have done an impressive job sourcing and executing on opportunities that have strengthened Fulcrum’s team, capabilities, financial strength, contract vehicles, and ability to provide important solutions and services to a diverse set of federal government customers across defense, intelligence, education, and healthcare. I share in Jeff’s excitement about the PTR acquisition and Fulcrum’s expanded Cyber capabilities and continued growth in the Intelligence and R&D markets.”
Source: Boyne Capital