Bluestone Investment Partners LLC has made an investment in Sterling, Virginia-based Intrepid Solutions and Services Inc, a provider of enterprise IT, data analysis and operational training services to the U.S. intelligence community. No financial terms were disclosed.
MCLEAN, Va., Nov. 5, 2019 /PRNewswire/ — Bluestone Investment Partners, LLC (“Bluestone”), a McLean, Virginia-based private equity firm, is pleased to announce the completion of an investment in Intrepid Solutions and Services, Inc. (“Intrepid” or the “Company”). Based in Sterling, Virginia, Intrepid is a premier provider of enterprise IT, data analysis, and operational training services exclusively to customers in the U.S. Intelligence Community (“IC”).
Bill Strang, co-founder and Managing Partner of Bluestone said, “We are excited about our partnership with Intrepid. The Company has an excellent reputation for delivering quality services and solutions, and its leadership team and talented employees are committed to supporting the important mission of its IC customer base. We are eager to bring additional resources to the Company to expand its reach and services offerings.”
“Bluestone’s principals have a long and successful track record in the defense and national security arena, and they share Intrepid’s mission commitment,” said Ryan Hebert, Chief Executive Officer of Intrepid. “We look forward to leveraging the experience of the Bluestone team as we take Intrepid to the next level.”
“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. Bluestone’s value-add capital will support efforts for the Company to accelerate growth both organically and through mergers and acquisitions,” said John Allen, Bluestone co-founder and Managing Partner.
Bluestone’s investment in Intrepid was supported by a co-investment from Route 2 Capital Partners (“R2CP”), a South Carolina based private investment fund that is licensed as a Small Business Investment Company (“SBIC”) by the U.S. Small Business Administration.
Pillsbury, Winthrop, Shaw, Pittman acted as Bluestone’s legal adviser in the transaction. PilleroMazza PLLC and McCandlish Lillard served as legal advisers to Intrepid. Aronson Capital Partners served as the investment banking adviser to Intrepid.
About Bluestone Investment Partners
Bluestone is a private equity firm investing exclusively in lower middle-market companies in the defense and government services arena. Bluestone’s principals have a long and successful track record owning, operating, investing in, and advising companies in the defense and government services sector. Additionally, many of Bluestone’s investors are industry luminaries who have successfully built, grown, and sold businesses to leading strategic buyers and private equity investors in the sector. Bluestone aims to leverage the industry expertise of its partners and investors to support both organic and acquisition-oriented growth strategies. Few private equity firms offer the combination of industry-focused intellectual and investment capital that Bluestone has assembled.
About Intrepid Solutions and Services, Inc.
Established in 2008, Intrepid is a provider of enterprise IT, data analysis, and operational training services exclusively to customers in the U.S. Intelligence Community. The Company is headquartered in Sterling, Virginia.