FVLCRUM Funds acquired Fidelity Technology Services, a provider of military simulation training systems and services to the U.S. Department of War and allied nations. Fidelity Technology Services will join FVLCRUM’s portfolio of IT, simulation, services, and training companies as part of its Project Maverick strategy.
The business will operate alongside Advanced IT Concepts, another FVLCRUM portfolio company.
Founded in 1987 and headquartered in Reading, Pennsylvania, Fidelity Technology Services provides advanced training and simulation systems for the U.S. Navy, U.S. Air Force, and allied defense customers.
The company also provides field support services for major defense programs.
Advanced IT Concepts delivers IT infrastructure integration, cybersecurity, simulation services, professional services, and training support to U.S. defense agencies and allied nations.
Together, the businesses will form a broader flight simulation and training platform spanning all branches of the U.S. military.
Fidelity Technology Services and Advanced IT will continue operating as independent business entities for contracting purposes.
Both will roll up under the FVLCRUM Maverick Acquisition Company.
The structure is intended to enable the businesses to collaborate on new opportunities and expand the range of services they can offer defense customers.
Juan Navarro will lead the Maverick strategy.
KEY QUOTES:
“I am pleased to welcome FTS, a recognized leader in simulation and training, to the FVLCRUM fold, where it will bring a full array of industry-leading solutions that complement Advanced IT’s IT and simulation offerings.”
Juan Navarro, CEO of Maverick
“This acquisition reflects FVLCRUM’s commitment to serving the readiness of U.S. military personnel through partnerships with strong management teams and investments in businesses that provide essential services, create economic opportunity, and generate long-term value.”
Andre Castillo, Partner at FVLCRUM Funds
