o Arlington Capital Partners Closes on New $6 Billion Fund
o Columbia-Based BTS Software Lands Investment from Blue Delta
o Reston-Based Leidos to Sell Varec Fuel Management Unit
o Arlington-Based Leonardo DRS Says Chairman and CEO to Retire
o Barry Broadus to Retire as CFO of Reston-Based ICF
o Briefly Noted: ScienceLogic, Peraton, Consilio
Arlington Capital Partners Closes on New $6 Billion Fund
Bethesda, Md. – Arlington Capital Partners, the Bethesda-based private investment firm focused on government-regulated industries, announced the closing of its newest fund with capital commitments of $6 billion. The fund – called Fund VII – is 57% larger than its previous fund that closed in 2023. The firm said it has invested over $1 billion in 35 investments since the beginning of 2024, including the recent sale of BlueHalo to AeroVironment (AV).
“The investment landscape for our firm has never been more compelling. Increasing domestic and international budgets for national security, the revitalization of U.S. manufacturing, and the expansion of government software and tech-enabled services are driving increased demand for the mission-critical companies that we build,” said Arlington’s Managing Partners, Matt Altman, Michael Lustbader, Peter Manos and David Wodlinger, in a statement. “We are thankful for the partnership of our investors, founders, and management teams and look forward to delivering continued strong performance in ACP VII.”
Columbia-Based BTS Software Solutions Lands Investment from Blue Delta Capital Partners
Columbia, Md. – BTS Software Solutions, a Columbia-based developer of counter-drone and cybersecurity technologies to national security agencies, said it has landed a new venture capital investment from McLean-based Blue Delta Capital Partners. Financial terms of the deal were not disclosed; BTS said its management team will continue as majority owner. The company said the investment will help bolster its capabilities and support future acquisitions.
“We are delighted to secure this investment from Blue Delta as we embark on the next chapter in BTS’s growth,” said CEO David Tohn. “Blue Delta’s deep and proven expertise in the national security market and their successful track record with companies like ours make them an ideal partner for our team.”
Reston-Based Leidos to Sell Varec Fuel Management Unit
Reston, Va. – Leidos, the Reston-based provider of IT services to the defense industry, said it will sell Atlanta-based Varec, its fuel management subsidiary, to an unspecified buyer as part of a strategy announced earlier this year designed to sharpen its focus. Financial terms of the deal, expected to close by the end of the year, were not disclosed. “This transaction enables both Leidos and Varec to advance their missions and maximize long-term value,” said Vicki Schmanske, the president of Leidos’ Commercial & International Sector. “By refining our portfolio, we’re executing our NorthStar 2030 strategy at pace and sharpening our focus on our strategic growth pillars.” Leidos acquired Varec in 2006. The company, which provides automated fuel management technology, also has offices in Alexandria, VA, Australia and the UK.
Arlington-Based Leonardo DRS Says Chairman and CEO to Retire
Arlington, Va. – Leonardo DRS, an Arlington-based developer of defense technologies, said that Bill Lynn will retire as its chairman and CEO at the end of this year. The company’s board has named John Baylouny as its president and CEO, and elected Fran Fragos Townsend as board chair. Lynn has served as CEO since 2012, returning Leonardo DRS to the public markets in 2022. Baylouny currently serves as the company’s COO, a role he has held since late 2018. Prior to that, he served as its CTO. Townsend has served as a board member since 2009.
Barry Broadus to Retire as CFO of Reston-Based ICF
Reston, Va. – ICF, a Reston-based provider of technology and consulting services, said that Barry Broadus will retire as its CFO in March, one of a handful of executive moves announced by the company. To fill the void, ICF will shift COO James Morgan to the additional role of CFO, and elevate Anne Choate, currently an executive vice president, to the role of president. Broadus, who joined the company in 2022, will leave his current role following the publication of its 2025 annual report, but will remain a consultant. Morgan has served as ICF’s COO since 2020, and Choate currently leads the company’s energy, environment and infrastructure and disaster recovery client markets.
Briefly Noted
(Reston, Va.) Reston-based ScienceLogic, a developer of IT management and monitoring software, has named Michael Beaver as its chief revenue officer. Beaver previously held senior leadership roles at Flexera and BMC Software.
(Reston, Va.) Reston-based Peraton, a provider of national security technology to the government, has named David Cattler to its board of advisors. Cattler is the former director of the Defense Counterintelligence and Security Agency (DCSA).
(Washington, DC) DC-based Consilio, a provider of legal technology and services, has named Tricia Kinney as its chief legal officer. Kinney previously led legal teams at BlueLinx, ServiceMaster and Kimberly-Clark. She will be based in Atlanta.