Lafayette Square Finances NewSpring's Strategic Acquisition of C Speed to Enhance Technological Solutions

Financing Boost for Acquisition in Radar Technology

In a significant move within the defense industry, Lafayette Square has announced its support for NewSpring Holdings, LLC in financing the acquisition of C Speed, LLC. This transaction aims to bolster C Speed's capabilities in providing cutting-edge radar systems and engineering solutions for both civilian and military purposes worldwide.

Founded in 1996 and based in Liverpool, New York, C Speed has established itself as a leader in the radar technology sector. The company specializes in manufacturing advanced radar systems, offering surveillance products, and providing unique surveillance-as-a-service solutions via software-defined radio. This acquisition is set to enhance NewSpring's strategic guidance and resource allocation to align with the U.S. Government's growing demands for enhanced security technologies.

Tom Mullin, Director at Lafayette Square, highlighted the growing market need for innovative surveillance solutions: "C Speed's expertise in radar systems positions it as a unique investment opportunity. The company has cultivated valuable partnerships with federal agencies, making it an ideal candidate for this acquisition."

C Speed's President and CEO, David Lysack, expressed enthusiasm about the future: "Partnering with NewSpring and Lafayette Square enables us to advance our technology and expand into markets that truly need our solutions. We are eager to leverage this partnership for our continued growth."

The implications of this acquisition extend beyond financial backing. Lafayette Square does not only invest capital but also provides its portfolio companies unique access to its proprietary Worker Solutions™ platform. This custom-built initiative is designed to enhance employee retention and productivity by connecting teams with curated third-party service providers for non-traditional employee benefits. Such offering aims to reduce operational risks while improving job quality and employee well-being across C Speed’s workforce.

This acquisition comes at a time when the need for reliable and sophisticated security systems is paramount. With experience in supplying radar systems and engineering solutions, C Speed has collaborated extensively with major defense contractors and government entities like the U.S. Air Force, Army, Navy, and NATO. Their innovative products include the LightWave Software Defined Radar Platform, which provides a cost-effective solution for modernizing legacy radar systems while delivering new capabilities to clients.

NewSpring, recognized as a lower-middle-market focused private equity firm, manages around $3.5 billion and has completed over 250 investments. Its mission aligns perfectly with C Speed’s directional steering into viable technological advancements within the government services sector. Lee Garber, General Partner at NewSpring, emphasizes the synergy: "C Speed's proven expertise in radar systems aligns directly with our strategic growth ambitions, which encourage innovation and expand our reach within critical markets."

As C Speed embarks on this new chapter, there are clear signs of expected progress. The acquisition not only showcases a merger of resources but also illuminates the path toward enhancing technological offerings. Lafayette Square's commitment to investing in companies that create and preserve working-class jobs offers a testament to their focus on making a positive impact while achieving financial growth.

With the collaborative efforts of NewSpring and Lafayette Square, the potential for C Speed to further its mission of providing critical radar solutions looks brighter than ever. This partnership is paving the way for future innovations that are set to resonate within the defense landscape and beyond, marking a new era for radar technology.