Tag: Bluestone Investment Partners
Precise Systems Announces Acquisition of Tucson Embedded Systems
Enhances Precise Systems’ expertise within Model-Based Systems Engineering
Lexington Park, MD and McLean, VA, SEPT 4, 2024 – Precise Systems, Inc., a portfolio company of Bluestone Investment Partners, is pleased to announce the acquisition of Tucson Embedded Systems, LLC (TES).
Based in Tucson, Arizona, TES is a hardware and software engineering firm specializing in Model-Based Engineering (MBE) and, in particular, Model-based Modular Open Systems Approach (MMOSATM), Future Airborne Capability Environment (FACE® ) and Sensor Open Systems Architecture (SOSA) tools and processes. TES supports commercial customers and Department of Defense end customers, including the Naval Air Warfare Center (NAVAIR) and Program Executive Office Aviation (PEO Aviation) with solutions that are verified under the FACE Technical Standard.
TES’s AirWorthy Engineering Systems Unified Modeling (AWESUM®) proprietary software license, available as COTS, is an end-to-end systems development lifecycle tool suite that enables rapid design, development, verification, integration, and certification of embedded mission-critical and safety-critical avionic systems. Furthermore, TES has been awarded a Small Business Innovative Research (SBIR) Phase III award in support of its Hardware Open Systems Technologies (HOST) Harmony™ test station, which supports flight safety compliance within NAVAIR.
Scott Pfister, Chief Executive Officer and President of Precise Systems, said, “We are excited to welcome TES employees into Precise as our third add-on acquisition in the last year. TES brings significant capability in the advanced engineering domain and specifically within open architecture software development standards. These capabilities are increasingly in demand across Precise Systems’ existing client base and the overall sector. This acquisition deepens our expertise in this area, and we look forward to bringing these solutions and expertise to current and new customers.”
TES was founded and owned by Antonio Procopio, Sean Mulholland, and Dennis Kenman.
Dennis said, “Since founding TES over 25 years ago, Antonio, Sean, and I have been deeply committed to building a company that delivers cutting-edge technical solutions to our clients while fostering a mission-driven environment where our employees can thrive and grow. This partnership with Precise not only enables us to continue supporting our existing customers but also expands our ability to bring our expertise to a broader range of commercial and Department of Defense clients, on a larger scale.”
The acquisition of TES is Precise Systems’ third acquisition since commencing its partnership with Bluestone in January 2023.
About Precise Systems
Precise Systems, a solutions-driven company, demonstrates a strong commitment to supporting the warfighter’s needs through innovation and expert consultation. It leverages its highly skilled workforce to provide high-end service, focusing on various aspects of defense systems, including network and weapons systems acquisition, maintenance, modernization, and sustainment programs. The company’s expertise spans Digital Transformation, Advanced Engineering, Physical Sciences Research, Platform Lifecycle Support, and Technical Services, ensuring comprehensive support for defense programs at every stage of their lifecycle. One of Precise Systems’ key strengths lies in its ability to manage complex customer needs effectively. By offering tailored solutions and exceptional service, the company consistently meets and exceeds customer expectations. With a track record of success and a commitment to excellence, Precise Systems continues to be a trusted partner in advancing defense capabilities and supporting the warfighter’s mission. Please visit www.GoPrecise.com for more information.
Media Contact: Kristina “Nina” McKeaver | (240) 317-5360 | KMckeaver@GoPrecise.com
About Bluestone Investment Partners
Bluestone is a private equity firm investing exclusively in lower middle-market companies in the defense and government services arena. Bluestone’s principals have a long and successful track record of owning, operating, investing in, and advising companies in the defense and government services sector. Please visit www.bluestoneinv.com for more information.
Precise Systems Announces Acquisition of Excet, Inc.
Enhances and expands Precise Systems’ capabilities for Army and Navy customers
LEXINGTON PARK, MD and MCLEAN, VA, NOV 21st, 2023 – Precise Systems, Inc., a portfolio company of Bluestone Investment Partners, is pleased to announce the acquisition of Excet, Inc. (Excet) in a transaction that closed Friday, November, 10, 2023.
Founded in 2005, Excet is a Springfield, Virginia-based provider of scientific research and engineering services to the Department of Defense. The company offers physical sciences research to the U.S. Army and U.S. Navy through multiple contract vehicles. Excet supports customers at the Naval Research Lab (NRL) in Washington DC, the Army Research Lab in Edgewood, MD, and the Naval Air Station in Key West, FL, among other locations. Excet has proven expertise in Chemical, Biological, Radiological, Nuclear, and Explosives (CBRNE) threat assessment, biotechnology, chemistry, corrosion control, alternative energy, threat agent sciences, synthetic biology, and canine olfaction.
“The addition of Excet’s capabilities enhances our solutions-based service offerings to our customers,” said Scott Pfister, President and Chief Executive Officer of Precise Systems. “Since our partnership with Bluestone Investment Partners began in January 2023, one of our key strategic initiatives has been to find acquisition targets that complement and advance Precise’s capabilities principally in support of the Department of Defense. Excet is a perfect fit to do just that.”
Rich Matuszko, the founder of Excet, noted, “The Precise Systems team shares our commitment to serving our customers, first and foremost. The larger platform of Precise will give us the support and scale to help us continue growing and delivering for the customer.”
Excet boasts over 100 employees of whom over 40 percent possess advanced degrees in engineering, chemistry, biology, and related disciplines. Excet’s team will be joining Precise Systems and continuing to execute physical sciences research. With the addition of Excet, Precise Systems now has over 1,000 employees supporting customers across the United States.
Bluestone Investment Partners completed its investment in Precise Systems in January of this year, commencing a partnership to help the company continue its rapid growth. Excet represents the first acquisition for Precise Systems since Bluestone invested.
About Precise Systems
As a solutions-based company, Precise Systems is focused on innovation in support of the warfighters and aligning our expertise to deliver the highest quality of service. Powered by our highly skilled workforces, we provide expert consultation on network and weapons systems acquisition programs, maintenance/modernization programs, and sustainment programs with solutions in Digital Transformation, Advanced Engineering, Physical Sciences Research, Platform Lifecycle Support and Technical Services. Since our establishment, we have demonstrated and perfected our ability to manage the customer’s needs, no matter how complex, offering exceptional service and Precise solutions.
Media Contact: Kristina “Nina” McKeaver | (240) 317-5360 | KMckeaver@GoPrecise.com
About Bluestone Investment Partners
Bluestone is a private equity firm investing exclusively in lower middle-market companies in the defense and government services arena. Bluestone’s principals have a long and successful track record owning, operating, investing in, and advising companies in the defense and government services sector.
Bluestone Investment Partners Announces Investment in Precise Systems, Inc.
Precise Systems specializes in advanced engineering, full-lifecycle program management, and software development services
LEXINGTON PARK, Md. and MCLEAN, Va., May 9, 2023 /PRNewswire/ — Precise Systems, Inc. has received a strategic investment by Bluestone Investment Partners, a McLean, Virginia-based private equity firm, to accelerate the growth of its business. Founded in 1990, Precise Systems is a Lexington Park, Maryland-based provider of mission readiness and software development services to the U.S. Navy, U.S. Marine Corps and U.S. Air Force. In addition to its headquarters office adjacent to Naval Air Systems Command Headquarters at Patuxent River, Precise Systems maintains offices at Naval Surface Warfare Center Crane Division in Indiana, Naval Undersea Warfare Center Division Newport in Rhode Island, Naval Surface Warfare Center Port Hueneme Division in California, and a software development group based in Brentwood, Tennessee. Precise Systems employs over 800 dedicated staff supporting customers at locations in over 30 states across the country.
Coincident with the transaction, former Precise Systems President Scott Pfister has assumed the role of Chief Executive Officer. As part of the transaction, Mr. Pfister and former Chief Executive Officer, Tom Curtis, will join Precise Systems’ board of directors.
“There is a lot of opportunity for growth delivering modernized engineering and program management solutions for our current customers across the Navy and new customers throughout the Department of Defense,” said Scott Pfister, Chief Executive Officer of Precise Systems. “Collaborating with an experienced, sector-focused partner like Bluestone will help us accelerate that growth.” Prior to his appointment as Precise Systems’ CEO, Mr. Pfister served as its President and Chief Operating Officer for nine years, helping to lead the company through a phase of significant growth. Before joining Precise Systems, Mr. Pfister served on active duty in the United States Marine Corps for over 11 years. He was a highly decorated Marine CH-53E Crew Chief with several deployments overseas.
“We are excited to partner with a highly experienced management team led by Scott,” commented Bluestone Partner Mike Ivey. “We have been extremely impressed by the team’s level of commitment to their customers’ missions and we are excited about the opportunity to expand the business and its capabilities through strategic M&A.”
Precise Systems was advised in the transaction by Chertoff Capital, LLC.
About Precise Systems
Precise Systems is a professional services company providing advanced engineering, program and project management, acquisition and lifecycle support, and information technology services. Founded in 1990, the Company has provided cutting-edge solutions and support to the Department of Defense since its establishment. Precise Systems understands and provides expert consultation on network and weapons systems programs, maintenance and modernization programs, and sustainment programs.
About Bluestone Investment Partners
Bluestone is a private equity firm investing exclusively in lower middle-market companies in the defense and government services arena. Bluestone’s principals have a long and successful track record owning, operating, investing in, and advising companies in the defense and government services sector.