McNally Capital buys majority stake in defense contractor TENICA
What's the deal? McNally CapitalDealroom has a profile for this one. Try Dealroom → has made a majority investment in TENICADealroom has a profile for this one. Try Dealroom → Global Solutions, a Chantilly, Virginia-based provider of engineering, mission operations, cybersecurity, and digital modernization services for US national security agencies. Terms were not disclosed. TENICA will keep its current leadership team, with McNally acting as a strategic partner.
Who's involved? McNally Capital is a private investment firm focused on founder-, family-, and management-led businesses in national security, defense, and industrials. Founded in 2008, TENICA supports customers across the US Intelligence Community and Department of War in the intelligence, space, defense, and cybersecurity sectors.
What's the endgame? The deal aims to accelerate TENICA's growth and expand its capabilities while preserving its workforce and culture. "We are excited to partner with McNally, a firm that understands what makes TENICA unique," said Nicholas Scherling, TENICA's president and chief executive officer.
Why now? McNally is betting on rising government demand for advanced space, cyber, and digital modernization work. "We believe these qualities will be increasingly important as our country continues investing in and expanding next-generation national security capabilities," said Ward McNally, co-CEO and managing partner.
The investment strengthens McNally's national security portfolio by adding a provider with longstanding relationships across the Intelligence Community. McNally partnered with Nio Advisors on the deal. Ropes & GrayDealroom has a profile for this one. Try Dealroom → served as legal counsel to McNally, with VenableDealroom has a profile for this one. Try Dealroom → advising on government matters.
The signal: Private capital keeps flowing into defense and intelligence contractors as the US government expands spending on space, cyber, and digital modernization. Firms with highly cleared workforces and entrenched agency relationships are becoming prime consolidation targets.
Read more: Business Wire
Image credit: Idaho National Laboratory
