M&A Deal Summary

Enlightenment Capital Acquires CyberCore Technologies

On September 27, 2017, private equity firm Enlightenment Capital acquired information technology company CyberCore Technologies from NexPhase Capital, Paladin Capital Group and Manulife Investment Management

Acquisition Highlights
  • This is Enlightenment Capital’s 5th transaction in the Information Technology sector.
  • This is Enlightenment Capital’s 15th transaction in the United States.
  • This is Enlightenment Capital’s 2nd transaction in Maryland.
Investment Fate
  • CyberCore Technologies was sold to a publicly-traded strategic buyer in 2024.

M&A Deal Summary

Date 2017-09-27
Target CyberCore Technologies
Sector Information Technology
Buyer(s) Enlightenment Capital
Sellers(s) NexPhase Capital
Paladin Capital Group
Manulife Investment Management
Deal Type Secondary Buyout

Target

CyberCore Technologies

Elkridge, Maryland, United States
CyberCore Technologies is a provider of information technology services to a variety of federal government agencies with a focus on intelligence and security. CyberCore Technologies was founded in 2000 and is based in Elkridge, Maryland.

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Buyer(S) 1

Buyer

Enlightenment Capital

Chevy Chase, Maryland, United States

Category Private Equity Firm
Founded 2012
Size Middle-Market
Type Sector Focused
DESCRIPTION

Enlightenment Capital is a private investment firm that provides flexible capital solutions and strategic support to middle-market businesses in the Aerospace, Defense, Government & Technology (ADG&T) sector. The firm invests in equity (minority and control), senior debt, and mezzanine debt. Enlightenment Capital was founded in 2012 and is headquartered in Chevy Chase, Maryland.


DEAL STATS #
Overall 15 of 33
Sector: Information Technology M&A 5 of 18
Type: Secondary Buyout M&A Deals 2 of 2
State: Maryland M&A 2 of 5
Country: United States M&A 15 of 33
Year: 2017 M&A 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-09-11 Cadmus

Waltham, Massachusetts, United States

Cadmus is a provider of professional consulting services that help clients achieve their goals and create social and economic value today and for future generations. Cadmus was founded in 1983 and is based in Waltham, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-05 Aurora Flight Sciences

Manassas, Vermont, United States

Aurora Flight Sciences is an innovative technology company which strives to create smarter aircraft through the development of versatile and intuitive autonomous systems. Operating at the intersection of technology and robotic aviation, Aurora leverages the power of autonomy to make manned and unmanned flight safer and more efficient. Headquartered in Manassas, Virginia, Aurora operates production plants in Bridgeport, West Virginia and Columbus, Mississippi, has Research and Development Centers in Cambridge, Massachusetts, Dayton, Ohio and Mountain View, California, and a European office, Aurora Swiss Aerospace, located in Luzern, Switzerland.

Sell -

Seller(S) 3

SELLER

NexPhase Capital

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 2007
PE ASSETS 2.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

NexPhase Capital is the private equity investment arm of investment bank Moelis & Company. The firm targets growth equity and control buyouts requiring equity investments of $40 to 225 million. NexPhase Capital has particular interest in the business services, consumer and retail, financial services, healthcare services, industrial and telecom industries. NexPhase Capital was formed in 2007 and is based in New York, New York.


DEAL STATS #
Overall 12 of 24
Sector: Information Technology M&A 2 of 2
Type: Secondary Buyout M&A Deals 4 of 11
State: Maryland M&A 2 of 2
Country: United States M&A 11 of 23
Year: 2017 M&A 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-12 SwipeClock

South Jordan, Utah, United States

SwipeClock provides cloud‐based integrated workforce management software solutions that include automated time and attendance and advanced scheduling. SwipeClock was founded in 1999 and is based in South Jordan, Utah.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-03-12 Clearway Pain Solutions

Annapolis, Maryland, United States

Clearway Pain Solutions is a provider of multidisciplinary interventional pain management services. It provides interventional procedures, medication management, physical therapy, chiropractic care, and related services for acute and chronic pain across multiple U.S. states. Clearway Pain Solutions is based in Annapolis, Maryland.

Buy -
SELLER

Paladin Capital Group

Washington, District of Columbia, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2001
PE ASSETS 1.5B USD
Size Large
Type Sector Focused
DESCRIPTION

Paladin Capital Group is a growth capital firm focused on early and expansion stage businesses related to homeland security, defense, and business continuity. Specific areas of interest include identity management, antimicrobial solutions, mesh networks, IT services, data storage, business process software, network management software and detection, biometrics, and protective equipment. Paladin Capital Group was formed in 2001 and is headquartered in Washington DC.


DEAL STATS #
Overall 32 of 44
Sector: Information Technology M&A 9 of 12
Type: Secondary Buyout M&A Deals 4 of 5
State: Maryland M&A 2 of 2
Country: United States M&A 28 of 38
Year: 2017 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-01-05 HealthTell

San Ramon, California, United States

HealthTell is a life science company that utilizes an Immunosignature Technology for accurate and timely detection and monitoring of more than 30 progressive diseases. HealthTell was founded in 2010 and is based in San Ramon, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-27 Cofense

Ashburn, Virginia, United States

Cofense is a provider of human-driven phishing defense solutions world-wide. Cofense delivers a collaborative approach to cybersecurity by enabling organization-wide engagement to active email threats. Company collective defense suite combines timely attack intelligence sourced from employees with best-in-class incident response technologies to stop attacks faster and stay ahead of breaches.  Cofense was founded in 2011 and is based in Ashburn, Virginia.

Sell $400M
SELLER

Manulife Investment Management

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Mezzanine Finance Firm
Founded 1998
Size Large
Type Sector Agnostic
DESCRIPTION

Manulife Investment Management is a private investment group that provides mezzanine as well as non-controlling equity capital to middle-market businesses. Manulife Investment's target investment size is $10 to $50 million per transaction. The Group prefers opportunities located in the US. Manulife Investment Management was established in 1998 and maintains offices in Boston and New York City.


DEAL STATS #
Overall 10 of 20
Sector: Information Technology M&A 1 of 2
Type: Secondary Buyout M&A Deals 5 of 7
State: Maryland M&A 1 of 1
Country: United States M&A 10 of 19
Year: 2017 M&A 3 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-28 Industrial Container Services

Montebello, California, United States

Industrial Container Services is a provider of reusable container solutions in the United States, providing new and reconditioned steel, plastic, and fiber drums. With 49 facilities across the United States and Canada, ICS collects, reconditions and distributes over 10 million steel, poly and intermediate bulk containers annually and is the only company capable of offering comprehensive services, including pickup and reconditioning of containers of all major packaging types, new container manufacturing and distribution, to customers nationally. Industrial Container Services is based in Montebello, California.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-10-10 Creative Foam

Fenton, Michigan, United States

Creative Foam is a manufacturer and supplier of custom-engineered die-cut, formed foam, nonwoven, and multi-material component solutions to the automotive, medical, and wind energy markets. Creative Foam was founded in 1969 and is based in Fenton, Michigan.

Buy -