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Trive invests in Merlin and ISR

Trive Capital has made undisclosed investments in Merlin RAMCo and ISR Group. Based in Jacksonville, Florida, Merlin is a provider of manned and unmanned flight operations, maintenance, engineering services, and logistics support for the U.S. Department of Defense and other government agencies. And, ISR, headquartered in Savannah, Tenn., provides training systems and programs, technical services, airfield services and logistics and depot support to military and commercial customers.

PRESS RELEASE

DALLAS, Texas, JACKSONVILLE, Florida, and SAVANNAH, Tennessee – Trive Capital (“Trive”), the Dallas-based private equity firm, is proud to announce its investments in Merlin RAMCo, LLC (“Merlin”) and ISR Group LLC (“ISR”). Headquartered in Jacksonville, Florida, Merlin is a leading provider of manned and unmanned flight operations, maintenance, engineering services, and logistics support for the U.S. Department of Defense and other government agencies worldwide. Headquartered in Savannah, Tennessee, ISR operates a 6,000 acre private test and training range complex and has past performance and specialized expertise in the operations, testing, training and technical support to unmanned aviation partners and government organizations. In addition, ISR is focused on a variety of commercial unmanned aviation initiatives primarily in the Southeast United States.

The strategic relationship strengthens the depth and breadth of the services offered to both Merlin’s and ISR’s customers. Merlin renders a full spectrum of highly technical services across the life cycle of manned and unmanned systems by deploying best-in-class aircraft operators, sensor technicians, and engineers worldwide in support of multiple customers and missions. This capability is now complemented by ISR’s UAV airfield/range, in-house unmanned systems, and a workforce with over 3,000,000 hours of flight support experience.

“We have invested in and partnered with two organizations that are recognized for their expertise in the fast growing UAV industry as demonstrated by Merlin and ISR’s track record, breadth of service offering, and accomplished employee base. The investment represents Trive’s seventh platform investment and the firm’s fifth out of Trive Capital Fund I,” said Trive Managing Partner Conner Searcy.

Merlin Chief Executive Officer Brian Raduenz stated, “We strive to inspire our people, build trust with our customers, and add value to our mission partners, while continually seeking new service offerings such as ISR’s unrivaled airfield range capabilities. Our management team is eager to work with both Trive and ISR to further enhance our industry-leading UAV expertise in support of government and commercial customers.”

“Trive’s collaboration and creativity helped bring Merlin and ISR together, which demonstrates their commitment to management’s strategic vision,” remarked Merlin’s Chief Administrative Officer Bob Miller, Jr. “Trive’s approach resonates with the Merlin and ISR teams, most notably because of their operational approach to our growth plans.”

“Trive is enthusiastic to support this exceptional management team and their employees in pursuing numerous growth opportunities,” noted Trive Managing Director David Stinnett. “We look forward to leveraging the organizations’ respective strengths to create a full service, single-source provider with superior service capabilities and assets that will create a differentiated platform in the UAV sector.”

About Merlin RAMCo
Merlin (www.Merlinramco.com) is a leading provider of manned and unmanned flight operations, maintenance, engineering services, and logistics support for the U.S. Department of Defense and other government agencies worldwide. Headquartered in Jacksonville, Florida and founded in 2006, Merlin is the leader in supporting aircraft utilized in critical intelligence, surveillance, and reconnaissance missions.

About ISR Group
ISR (www.isrgroup.com) operates a 6,000 acre facility, training center, and aircraft range located in Savannah, Tennessee. ISR specializes in providing training systems and programs, technical services, airfield services, and logistics and depot support to military and commercial customers worldwide. ISR is one of the most experienced service providers in the UAV industry with a workforce having over 3,000,000 hours of experience.

About Trive Capital
Trive (www.trivecapital.com) is a Dallas–based private equity firm focused on making private equity investments in companies based in the United States and Canada. Trive is currently investing from a $300 million institutional fund raised in 2013. Trive utilizes proven operational best practices and identifies actionable opportunities that allow businesses, shareholders, and employees to realize their full long-term potential.