Granite Creek Capital Partners Announces Investment in Sayres to Support its Acquisition of Global Systems Technologies

By GlobeNewswire On Mar 26, 2024

The acquisition was led by Sayres’ private equity sponsor, Broadtree Partners LLC (Broadtree), and was also completed in partnership with JP Morgan Chase and Muzinich BDC, Inc.

Granite Creek Capital Partners, L.L.C., a private investment firm based in Chicago, announced a debt and equity investment in Sayres Defense (Sayres), a provider of defense support, engineering, and technical assistance services to U.S. government agencies worldwide, in support of its acquisition of Global Systems Technologies, Inc. (GST). The acquisition was led by Sayres’ private equity sponsor, Broadtree Partners LLC (Broadtree), and was also completed in partnership with JP Morgan Chase and Muzinich BDC, Inc.

Sayres’ acquisition of GST, a provider of technical support and engineering services to the Transportation Security Administration (TSA) and other federal agencies, comes as the Company’s second add-on acquisition. In June 2023, Sayres acquired Joint Research and Development (JRAD), a provider of test and evaluation, acquisition analysis, and science and technology support services. The acquisition of GST broadens JRAD’s existing systems engineering and technical assistance capabilities and customer base.

“This acquisition marks an exciting new chapter for Sayres,” said Brad Batten, Managing Partner at Broadtree. “GST is a fantastic complement to JRAD and will provide the companies the opportunity to expand their market reach and better serve their customers, through enhanced mission-focused capabilities and a broader suite of service offerings.”

Andrew Kearney, Director at Granite Creek, added, “We are thrilled to support Broadtree and Sayres’ acquisition of GST. The Company’s industry-leading management team, Broadtree’s proven stewardship, and the combined Company’s broad and unique service offerings position Sayres to continue providing customers with world-class support and execute on its mission to become the next great middle-market government contractor.”

Sayres is a leader in defense mission support services to the U.S., Navy, Department of Defense, and broader National Security community. With decades of experience and proven results, Sayres’ mission-focused capabilities include strategy, planning, systems engineering, test and evaluation, modeling and simulation, logistics, research and development, acquisition support, full-cycle fleet operations, personnel training, and intelligence and security.

Headquartered in Yardley, PA, with additional offices in Virginia and New Jersey, GST is a provider of test and evaluation services, model-based systems engineering, logistics, and research and development to Defense and Homeland Security customers.

Broadtree Partners, headquartered in Charlotte, North Carolina, is a lower-middle market Private Equity firm with a specific focus on aerospace, defense, intelligence, and federal civilian government services businesses. Broadtree seeks to partner with business owners and entrepreneurs to provide operational resources and institutional capital to transform and grow founder-owned businesses in the lower-middle market. Broadtree’s goal is to fuel stable, long-term growth while preserving the company’s core values. By leading with its high caliber operating talent, Broadtree provides owners with the flexibility to preserve their legacy via a smooth leadership transition, or by partnering with Broadtree’s operational and financial resources to further accelerate growth.

Founded in 2005, Granite Creek Capital Partners, L.L.C. is a Chicago-based private investment firm focused on providing capital and operational resources to lower middle market companies engaged in manufacturing, business services, healthcare, and agribusiness. With an experienced team of investment professionals bringing expertise in private equity, banking, operations, and business development, Granite Creek has a successful track record of investing in and supporting its portfolio companies. In 2023, Granite Creek was named to Inc.’s Founder-Friendly Investors list for the fourth year in a row, honoring the private equity and venture capital firms with the best track record of success backing entrepreneurs.

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