Consolidation • Information Technology

Frontenac and Bridge Growth Partners Acquire Salient CRGT

On August 11, 2015, private equity firm Frontenac and growth capital firm Bridge Growth Partners acquired information technology company Salient CRGT

Acquisition Context
  • This is Frontenac’s 7th and Bridge Growth Partners’ 2nd transaction in the Information Technology sector.
  • This is Frontenac’s 55th and Bridge Growth Partners’ 2nd transaction in the United States.
  • This is Frontenac’s 3rd and Bridge Growth Partners’ 2nd transaction in Virginia.
Investment Fate
  • Salient CRGT was sold to a strategic buyer in 2021.

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M&A Deal Summary

Date August 11, 2015
Target Salient CRGT
Sector Information Technology
Buyer(s) Frontenac
Bridge Growth Partners
Deal Type Consolidation

Target Company

Salient CRGT

Fairfax, Virginia, United States
Salient CRGT’s diverse, hard-working team provides a wide range of technology and mission support services to U.S. federal government agencies. The company has earned the unwavering trust of customers, who cite deep expertise, exceptionally responsive approach, and high-value solutions for consistently ensuring their success. Founded in 1998, Salient CRGT is a privately held company headquartered in Fairfax, Virginia.
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Buyers Overview 2

Buyer

Frontenac

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1971
PE ASSETS 2.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Frontenac is a Midwest US-based private equity firm that seek profitable, lower middle-market company investments with $5 to $25 million of EBITDA. Frontenac typically partners with management when pursuing acquisitions, including companies managed by owner-operators. Sectors of interest include financial services, healthcare services, education/HR services, manufacturing, publishing/media, and technology services. Frontenac was formed in 1971 and is based in Chicago, Illinois.


Deal Context for Buyer #
Overall 57 of 81
Sector: Information Technology 7 of 11
Type: Consolidation 2 of 3
State: Virginia 3 of 3
Country: United States 55 of 77
Year: 2015 6 of 7
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-11 Salient Federal Solutions

Fairfax, Virginia, United States

Salient Federal Solutions, Inc. is a provider of technology and engineering services to government agencies, primarily within the intelligence community and the Department of Defense.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-02 OTC Industrial Technologies

Columbus, Ohio, United States

OTC Industrial Technologies is an industrial equipment service provider and distributor of highly engineered products including motion control, pumps, finishing products, robotics, motors and air compressors. OTC serves over 13,000 customers across diverse end-markets, providing highly technical sales consultation and aftermarket repair and services. OTC Industrial Technologies was founded in 1963 and is based in Columbus, Ohio.

Sell -
Buyer

Bridge Growth Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2013
Size Small
Type Sector Focused
DESCRIPTION

Bridge Growth Partners is a private equity firm that targets investments in the technology and technology-enabled financial services sectors. Bridge Growth Partners pursues growth situations and will consider opportunities throughout the US. Bridge Growth Partners was formed in 2013 and is based in New York City.


Deal Context for Buyer #
Overall 2 of 6
Sector: Information Technology 2 of 5
Type: Consolidation 1 of 1
State: Virginia 2 of 2
Country: United States 2 of 4
Year: 2015 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-11 CRGT

Reston, Virginia, United States

CRGT, Inc. is a full life-cycle IT services provider for the Federal Government, offering customers agile software development, data analytics, and cyber security & infrastructure support.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-06 Solace Systems

Ottawa, Ontario, Canada

Solace Systems provides market-leading technology for real-time, event-based movement of data. Solace’s proprietary ‘event mesh’ platform securely and reliably moves event data into, out of, and across enterprise applications. Solace Systems was founded in 2001 and is based in Ottawa, Ontario.

Buy -