McNally Capital has made a majority investment in TENICA Global Solutions, a provider of engineering, cybersecurity, mission operations, and digital modernization services supporting U.S. national security programs. Financial terms of the transaction were not disclosed. McNally partnered with Nio Advisors on the investment.
Founded in 2008 and headquartered in Chantilly, Virginia, TENICA supports U.S. government customers across national security, intelligence, space, defense and cybersecurity.
The company provides capabilities spanning systems engineering, IT architecture, cloud and enterprise technology, cyber defense, mission resilience, digital modernization, program management and acquisition support.
TENICA will continue operating under its existing leadership team, with McNally serving as a strategic partner supporting expansion of the company’s workforce, capabilities and government customer relationships.
The investment adds a provider of intelligence, cyber and space mission support to McNally’s national security portfolio.
McNally expects demand for TENICA’s services to increase as the federal government invests in next-generation space infrastructure, cybersecurity, digital systems and intelligence capabilities.
TENICA plans to use McNally’s resources and expertise to pursue organic growth, expand its portfolio and create additional opportunities for its highly specialized and cleared workforce.
Ropes & Gray served as legal counsel to McNally Capital, while Venable provided government contracting counsel.
The McLean Group served as TENICA’s financial adviser, and PilieroMazza acted as the company’s legal counsel.
McNally is investing through McNally Capital Fund III. The Chicago-based firm focuses on lower-middle-market businesses across aerospace, defense, national security and industrial technology and services.
KEY QUOTES:
“As we begin this next chapter, we are excited to partner with McNally, a firm that understands what makes TENICA unique and can provide the resources and expertise to help us continue growing without losing sight of the mission, culture and client focus that define who we are.”
Nicholas Scherling, President and CEO of TENICA Global Solutions
“TENICA exemplifies the type of business we seek to partner with, one with longstanding client relationships, differentiated engineering and mission operations capabilities, and an extremely capable, highly cleared workforce.”
Ward McNally, Co-CEO and Managing Partner of McNally Capital
