Houlihan Lokey Advises Fulcrum IT Services

Houlihan Lokey is pleased to announce that Fulcrum IT Services, LLC (Fulcrum), a portfolio company of Boyne Capital Partners, LLC (Boyne) and Grindstone Partners, LLC (Grindstone), has been acquired by Huntington Ingalls Industries, Inc. (HII). The transaction closed on February 25, 2019.

Headquartered in Centreville, Virginia, Fulcrum is a leading mid-tier government services company that applies a powerful combination of advanced technology and deep mission expertise to complex problems in intelligence, special operations, and high priority civilian markets. The company leverages its specialized capabilities in advanced engineering, cyber security, software development, and big data engineering to enhance its customers' situational awareness and deliver predictive threat analytics. Fulcrum has also developed unique experience and capabilities in the Command, Control, Communications, Computers, Combat Systems, Intelligence, Surveillance, and Reconnaissance (C5ISR) domain. Fulcrum is a trusted partner to some of the most discerning customers including the U.S. Special Operations Forces (SOF) and Intelligence Community (IC). Fulcrum's customer intimacy and extensive knowledge of the geopolitical threat environment position the company for continued success as part of HII.

Boyne is a Florida-based private equity firm focused on investments in lower middle market companies. Founded in 2006, Boyne has successfully invested in a broad range of industries, including healthcare services, consumer products, manufacturing, and business and financial services.

Grindstone is an Alexandria, Virginia-based private investment and advisory firm focused on small to mid-cap investments in partnership with management. The firm’s founder, Michael Bluestein, has over 30 years of experience in leveraged buyout and growth capital investing in a broad range of service, manufacturing, and software sectors.

Headquartered in Newport News, Virginia, Huntington Ingalls Industries is America's largest military shipbuilding company and a provider of professional services to partners in government and industry. For more than a century, HII's Newport News and Ingalls shipbuilding divisions in Virginia and Mississippi have built more ships in more ship classes than any other U.S. naval shipbuilder. HII's Technical Solutions division provides a wide range of professional services through its Fleet Support, Mission Driven Innovative Solutions, Nuclear & Environmental, and Oil & Gas groups. HII employs more than 40,000 people and is a member of the S&P 500 index.

Houlihan Lokey served as the exclusive financial advisor to Fulcrum.