Moelis Capital Buys CyberCore Tech from Roark Capital

Moelis Capital Partners, the PE arm of Moelis & Co., said Monday that it has acquired CyberCore Technologies. Financial terms weren’t announced. Roark Capital was the seller. Elkridge, Md.-based CyberCore provides IT services to the federal government and intelligence community. FBR & Co. acted as financial advisor to MCP. SunTrust Robinson Humphrey, RBS Citizens and Bank of America provided senior debt financing and Hancock Capital Partners Investment Management provided the mezzanine financing.


Moelis Capital Partners (MCP), the private equity
business affiliated with Moelis & Company, today announced the acquisition of
CyberCore Technologies (“CyberCore”), a leading provider of information technology
services to the federal government and intelligence community with expertise in cyber
security, systems integration and secure supply chain management.
Headquartered in Elkridge, Maryland, CyberCore’s supply chain management services
include the secure procurement, installation, integration and management of complex IT
systems to streamline customers’ acquisition and refresh cycles. CyberCore also
provides a full suite of IT managed services, including network engineering and
architecture, systems engineering and lifecycle management. CyberCore supports
numerous long-term IT engagements, including some of the largest IT contracts to the
defense and intelligence communities. Approximately 80 per cent of CyberCore’s more
than 200 employees are high-level engineers, working to ensure the security of critical
customer IT infrastructure. The company has recently added a new state-of-the-art
facility with a cutting-edge integration center and lab to fully support the company’s
intelligence community customers. Prior to the acquisition, CyberCore was a portfolio
company of Roark Capital Group, an Atlanta-based private equity firm.
“We are excited about this partnership and believe it will help us grow and better meet
the mission critical needs of our customers,” said Kevin Powderly, Co-Founder and Co-
CEO of CyberCore Technologies. “This is a time of advancement and transformation in
technology and MCP’s involvement will allow CyberCore to offer an even more
innovative suite of services going forward.” Kevin and his brother John, who cofounded
CyberCore in 2000, will retain a significant equity ownership interest and
continue their leadership roles as Co-CEOs.
Kurt Larsen, Managing Partner of Moelis Capital Partners, said, “We were impressed by
CyberCore’s strong leadership team and successful track record. The company has
developed a reputation for providing leading IT procurement, asset management and
related engineering services to the most demanding clients. We’re particularly excited
by the company’s growth prospects and we look forward to working with this talented
management team.”
Chris Mills, President of CyberCore, said, “This new capital will enable us to expand
and manage our business more effectively during this exciting growth period. We are
pleased that MCP sees the importance of fostering the development of technology
companies leading the way in cyber security.”
FBR & Co. acted as advisor to MCP and Parr Brown Gee & Loveless served as counsel.
SunTrust Robinson Humphrey, Inc, RBS Citizens, N.A. and Bank of America, N.A.
provided the senior debt financing and Hancock Capital Partners Investment
Management, LLC provided the mezzanine financing.
For more information about CyberCore, please visit
Moelis Capital Partners is a middle market private equity firm founded in 2007 in
connection with the formation of Moelis & Company, a global investment bank. Moelis
Capital Partners manages $700 million of committed private equity capital and
specializes in traditional private equity investments in the middle market. For more
information, please visit