Broadtree Partners buys GovCon platform Joint Research and Development

• Tim Reardon, current CEO of Sayres Defense, will lead the combined companies as CEO
• Evergreen Advisors Capital served as financial advisor to JRAD
• Broadtree Partners invests in aerospace, defense, intelligence, and federal civilian government services businesses

Broadtree Partners has acquired Joint Research and Development, a Virginia-based GovCon platform business. No financial terms were disclosed.

JRAD is a provider of test and evaluation services, total life-cycle acquisition support, medical and public health preparedness, and science and technology research and development to government customers.

With this acquisition, JRAD becomes the second company in Broadtree’s GovCon platform, joining Sayres Defense, a provider of systems engineering and mission support services to the Department of Defense. Tim Reardon, current CEO of Sayres Defense, will lead the combined companies as CEO.

“We’re extremely excited to add JRAD to our GovCon platform – JRAD has a unique culture of customer and mission-focused performance and remarkably talented people supporting critical national security programs across the Federal Government,” said Reardon in a statement. “JRAD is a great step forward towards achieving our goal of building the next great middle-market support contractor.”

Evergreen Advisors Capital served as financial advisor to JRAD. Holland and Knight served as legal advisor to Broadtree Partners and Sayres Defense and Pillsbury Winthrop Shaw Pittman LLP served as legal advisor to JRAD. NextFed provided market and commercial due diligence analysis and Aprio provided tax and transaction advisory services for Broadtree and Sayres Defense.

Based in Charlotte, North Carolina, Broadtree Partners invests in aerospace, defense, intelligence, and federal civilian government services businesses.