On Monday January 8th, Godspeed Capital Management LP (“Godspeed”), a lower middle market Defense & Government services, solutions, and technology-focused private equity firm, announced the acquisition of Cyberspace Solutions, LLC (“CSS” or “the Company”), a provider of all-source intelligence gathering, analysis, and systems development solutions for national security missions, by its intelligence, AI/ML, and Data Analytics platform, Crimson Phoenix. CSS was formerly owned by Illuminate Operations, Inc.
Chertoff Capital, LLC, the investment banking subsidiary of The Chertoff Group, served as the exclusive investment banking advisor to Illuminate Operations, Inc.
TRANSACTION DETAILS
CSS is a provider of all-source intelligence gathering, analysis, and systems development solutions, including data and analytical support services for the Intelligence Community and U.S. Special Operations Command. CSS combines decades of intelligence expertise to deliver actionable insights that enable its national security customers to make fast and informed decisions. The Company now joins with Crimson Phoenix to support its intelligence strategy and national security objectives.
Jason Kaufman, Chertoff Capital president said, “CSS is a trusted provider of all-source intelligence data and analytical support services for national security missions. The acquisition of CSS by Crimson Phoenix not only optimizes portfolio value for our client but also propels the Company towards a future marked by innovation and market leadership. We are pleased to have served as the trusted advisor to Illuminate and look forward to Crimson Phoenix’s future success.”
Ryan Hoffman, Chertoff Capital principal said, “CSS aligns perfectly with Crimson Phoenix’s national security objectives. It brings a talented workforce and coveted customer relationships to the platform. This transaction reflects our dedication to delivering strategic value for mission-oriented companies. We are thrilled to have advised Illuminate on the sale and are excited for Crimson Phoenix’s promising future.”
Tameika Hollis, CEO of Illuminate Operations, Inc., said, “Chertoff Capital provided excellent advice throughout the entire transaction process. They were instrumental in crafting a clear description of the value proposition of the business being divested, identifying the relevant set of potential suitors, soliciting interest, shepherding the process of selecting the acquirer, navigating the challenges of bringing the transaction to a successful conclusion, and ultimately finding a great new home for the business. We appreciate their hard work and wise insights.”
About Chertoff Capital
Chertoff Capital is the investment banking subsidiary of The Chertoff Group, a specialized advisory firm that helps organizations achieve their business and security objectives in a complex risk environment. As an industry leading investment bank serving high growth, mission-focused companies in the defense technology, government services and cybersecurity markets, Chertoff Capital provides clients with a highly differentiated advisory offering that brings together transaction expertise and unparalleled business strategy insights. Chertoff Capital professionals have advised on well over 100 transactions over the last 20 years. Chertoff Capital is an SEC registered broker dealer and a member of FINRA.
About Cyberspace Solutions
Cyberspace Solutions, LLC, is a leading provider of all-source intelligence, gathering, analysis, and systems development solutions for Intelligence Community, Defense, and Law Enforcement customers. CSS customizes solutions and provide actionable intelligence for targeting and other vital mission priorities.
About Crimson Phoenix
Crimson Phoenix is a leading digital, data, and intelligence analysis and solutions platform designed to support the critical mission requirements of the U.S. Intelligence Community and U.S. Special Operations Command. Headquartered in the DC/Virginia area, Crimson Phoenix offers a differentiated suite of mission-critical capabilities and solutions in artificial intelligence & machine learning, cybersecurity, digital and data enablement, software development, and intelligence targeting and analysis.
About Godspeed Capital Management
Godspeed Capital is a lower middle-market defense & government services, solutions, and technology focused private equity firm investing alongside forward-thinking management teams that seek an experienced and innovative investment partner with unique sector expertise, operational insight, and flexible capital for growth. While a typical investment will involve companies generating approximately $3 million to $30 million of EBITDA, Godspeed Capital has significant support to complete larger transactions through strategic co-invest relationships. The firm focuses on control buyouts, buy-and-builds, corporate carve-outs, and special situations.