NewSpring Holdings has acquired C Speed, a provider of advanced radar systems and engineering solutions for civilian and military applications.
The acquisition creates the next platform company under the NewSpring Holdings Federal Platform, joining BCore, a mission-centric solutions company for the Defense Department and the Intelligence Community, following the earlier success of Avantus Federal, which was sold for $590 million in 2022.
C Speed is the fourth platform NewSpring Holdings has established in the last 15 months, the company said.
“Given the federal government’s increasing emphasis on domestic border security and force protection for the U.S. Military and our allies, we see massive opportunity for C Speed. NewSpring Holdings has a proven track record of taking successful lower-middle-market businesses and applying its repeatable, thesis-driven value creation approach to elevate their growth potential,” said Andy Maner, NewSpring Holdings Federal Advisory Board chair.
“We’re building a holistic portfolio of federal services companies designed to meet the evolving needs of government agencies, and we look forward to driving growth and amplifying C Speed’s impact in this critical sector.”
C Speed has a 30-year history of protecting national and international borders and assets through its air, land and maritime surveillance technologies and security services. It specializes in designing, prototyping and manufacturing software-defined radar systems.
“With over 30 years of experience in the radar industry, our business continues to innovate, supporting national and international defense initiatives beyond our traditional software-defined radar/modernization business,” said C Speed CEO Dave Lysack.
“We’re entering a pivotal phase of expansion, and NewSpring Holdings brings the expertise, network, and strategic support we need to help us capitalize on new opportunities. We’re thrilled to partner with the entire NewSpring team as we seek to leverage our technology in new ways to address emerging threats.”
NewSpring Holdings’ strategic M&A process aims to accelerate growth in thesis-driven markets, including logistics, fin-tech, government services, IT services and sports.
“An era of rapidly evolving threats, accelerated innovation cycles, and scrutiny on spending effectiveness and efficiency present unique challenges for the defense and federal sector broadly. More than ever, we see the crucial role of an innovative partner that delivers integrated, modular sensing capabilities at a competitive price point,” said NewSpring General Partner Lee Garber.
“Our partnership with C Speed aligns with NewSpring’s vision to support growth and innovation within the national security and defense sector.”