NewSpring Holdings scoops up federal services company Bridge Core

• Bridge Core founders Tyler Laverick and Andy Rackovan will stay on with the company in key leadership roles
• NewSpring manages over $3 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt

NewSpring Holdings has acquired Bridge Core, a McLean, Virginia-based provider of visual intelligence, cybersecurity, and other technical solutions to the U.S. government intelligence community. No financial terms were disclosed.

Bridge Core will use the proceeds of this transaction to execute a disciplined M&A and aggressive organic growth strategy to create a full-spectrum, technology-enabled intelligence company.

Alongside this transaction, Chad Kim has been named CEO of Bridge Core. Bridge Core founders Tyler Laverick and Andy Rackovan will stay on with the company in key leadership roles.

“An era of rapidly proliferating and converging data presents unique, evolving challenges for the intelligence community. More than ever, we see the crucial role of a holistic solutions partner capable of elevating the transformation of data into precise and impactful insights for the numerous mission sets of the U.S. government.,” said NewSpring General Partner Lee Garber in a statement. “Our partnership with Bridge Core, a true market leader, aligns with our core vision to innovate within the national security space, where there is significant growth potential. Combined with Chad’s leadership and extensive experience delivering mission outcomes with technology in the intelligence community, we’re excited for the future of this business.”

NewSpring manages over $3 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt.