AEI Closes 17th Belcan Add-On

Belcan, a portfolio company of AE Industrial Partners, has acquired VICTOR42, a provider of special operations support, intelligence, and IT services to the federal government.

VICTOR42 provides its analytical, operational, and technical support services to a range of government and corporate customers including, among many others, the U.S. Special Operations Command, the Defense Threat Reduction Agency, the U.S. Department of Veterans Affairs, IBM, Palantir Technologies, CACI, and Jacobs Engineering. VICTOR42 is headquartered in Washington DC with additional offices in Colorado, North Carolina, and Florida.

Belcan is a provider of engineering, supply chain, technical recruiting, and IT services to companies that operate in the aerospace, defense, automotive, industrial, and government sectors.

The Cincinnati-headquartered company is led by CEO Lance Kwasniewski and has more than 10,000 employees in 51 in the US (36), the UK (9), Canada (2), India (2), Poland, and Germany.

“We are excited to add a premier specialist company like VICTOR42 to our growing organization, and we look forward to working with their experienced team as we further expand our comprehensive offerings to government and defense clients,” said Mr. Kwasniewski.

The buy of VICTOR42 is the 17th add-on acquisition completed by Belcan since being acquired by AEI in June 2015. Belcan’s earlier add-on was the November 2020 buy of Avista, a Wisconsin-based provider of software engineering services to OEMs in the aerospace, defense, industrial and medical industries.

Boca Raton-based AEI invests in the aerospace and defense, power generation, and specialty industrial sectors. Typical company targets will have from $50 million to $500 million of revenue. In July 2018, the firm held a final hard-cap closing of its second private equity fund, AE Industrial Partners Fund II LP, with $1.36 billion in commitments.

PricewaterhouseCoopers was the financial advisor to Belcan on this transaction.

© 2021 Private Equity Professional | June 10, 2021