Fulcrum IT Services Company Announces Private Equity Partnership
April 15, 2010 08:11 AM
April 15, 2010 — Fulcrum IT Services Company (“Fulcrum IT”), an information technology systems and services company, announced today that the management team in partnership with Boyne Capital Partners and Grindstone Partners completed the buyout of Fulcrum IT. The company was founded in 1987 and is focused on providing solutions to Defense and Civilian agencies of the Federal government.
Fulcrum IT provides mission critical services in five distinct categories: (i) enterprise services, (ii) applications development, (iii) data management and storage, (iv) information assurance and security, and (v) intelligence analysis. All current management will remain at the company with Mr. Jeff Handy continuing to serve as the president and CEO and Mr. Carroll Johnson as the CFO.
“We continue to grow our customer list of leading intelligence agencies and cutting edge civilian agencies, and we will now be able to bring even greater resources to our customers”, said Mr. Handy. “Our new investors will help us drive new growth strategies and new service capabilities and resources and we’re very excited about the partnership”, added Handy.
Mr. Handy joined Fulcrum IT in 2001 and has led the business for the past six years. He has extensive experience and background in the federal IT services industry and he previously worked in executive positions as president of GMRI, and a vice president at BTG, Inc. Mr. Handy serves on multiple boards and will continue on the Fulcrum IT Board.
Mr. Derek McDowell, Managing Partner of Boyne Capital, said “Fulcrum IT has built a terrific legacy of providing top notch service and delivery to its customers. The management team is very seasoned and has built a substantial organization serving some of the leading agencies of the government. We are very excited to partner with Jeff and Carroll to support their initiatives for the business.”
About Boyne Capital Partners
Boyne Capital Partners is a Miami, FL based private equity firm. Co-founders Derek McDowell and Jim Malone have decades of knowledge in diversified industries including professional services businesses and companies service government clients. Boyne Capital Partners creates shareholder value by providing capital and management assistance to lower middle market companies. Boyne currently manages over $70 million of equity capital. For more information please visit www.boynecapital.com or call 305.856.9500.
About Grindstone Partners
Grindstone Partners, LLC is an Alexandria, VA based private investment and advisory firm focused on small to mid cap companies. The firm's founder, Michael Bluestein, has over 20 years of experience in leveraged buyout and growth capital investing. He has extensive experience investing in service and technology companies and has worked with companies serving the federal government. For more information please visit www.grindstonepartners.com or call 703.627.9577.
About Fulcrum IT
Fulcrum IT Services, LLC, is an information technology (IT) company based in Centreville, Virginia, that provides IT solutions and services for federal, state, local, and commercial customers. Fulcrum IT specializes in the areas of Enterprise Services, Applications Development, Data Management, Cyber Security, Network and Communications Engineering, and Intelligence Analysis.
For more information about Fulcrum IT, visit our website at www.FulcrumIT.com, e-mail us at info@FulcrumIT.com, or call us at 703-543-2900.