Precise Systems, Inc., a portfolio company of Bluestone Investment Partners, announced on November 21 the acquisition of Excet, Inc. in a transaction that closed Friday, November, 10, 2023.
Founded in 2005, Excet is a Springfield, VA-based provider of scientific research and engineering services to the Department of Defense. The company offers physical sciences research to the U.S. Army and U.S. Navy through multiple contract vehicles. Excet supports customers at the Naval Research Lab (NRL) in Washington DC, the Army Research Lab in Edgewood, MD, and the Naval Air Station in Key West, FL, among other locations. Excet has proven expertise in Chemical, Biological, Radiological, Nuclear, and Explosives (CBRNE) threat assessment, biotechnology, chemistry, corrosion control, alternative energy, threat agent sciences, synthetic biology, and canine olfaction.
“The addition of Excet’s capabilities enhances our solutions-based service offerings to our customers,” said Scott Pfister, president and chief executive officer of Precise Systems. “Since our partnership with Bluestone Investment Partners began in January 2023, one of our key strategic initiatives has been to find acquisition targets that complement and advance Precise’s capabilities principally in support of the Department of Defense. Excet is a perfect fit to do just that.”
Rich Matuszko, the founder of Excet, noted, “The Precise Systems team shares our commitment to serving our customers, first and foremost. The larger platform of Precise will give us the support and scale to help us continue growing and delivering for the customer.”
Excet boasts over 100 employees of whom over 40 percent possess advanced degrees in engineering, chemistry, biology, and related disciplines. Excet’s team will be joining Precise Systems and continuing to execute physical sciences research. With the addition of Excet, Precise Systems now has over 1,000 employees supporting customers across the United States.
Bluestone Investment Partners completed its investment in Precise Systems in January of this year, commencing a partnership to help the company continue its rapid growth. Excet represents the first acquisition for Precise Systems since Bluestone invested.
Source: Precise Systems
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