Fredericksburg, VA, May 24, 2016 --(PR.com
)-- QRC Technologies
(“QRC” or the “Company”) announced today that it has been acquired by an affiliate of DC Capital Partners (“DC Capital”), a private equity investment firm headquartered in Alexandria, Virginia.
QRC is an innovator in the design and development of hardware and software products including communications surveillance systems and data analytic tools for government, military, and law enforcement customers.
QRC's intelligence collection solutions collect signals intelligence and threat warnings to analyze large volumes of mobile and broadband network data. QRC has approximately 70 employees, the majority of whom hold high level security clearances.
Thomas J. Campbell, Founder & Managing Partner of DC Capital and the new Chairman of QRC said, “QRC has all the attributes that we look for in a company - a proven and experienced management team, a highly skilled workforce with significant subject matter expertise, a portfolio of highly differentiated and innovative solutions, a brand that represents our goal of excellence, and a scalable platform for growth.”
Mr. Campbell also stated, “DC Capital is proud to partner with QRC management and together we have developed a clear vision for what we want to accomplish as a company over the next five years; to build a premier Signals Intelligence (“SIGINT”) and Communications Intelligence (“COMINT”) platform to address the current threat environment driven by increasing global terrorism and political instability. As cellular users and data usage continue to grow, the demand will increase for intelligence tools to collect and analyze communications. Our plan is to significantly increase investment in research and development and in other requisite resources.”
Thomas Callahan, QRC’s President and Chief Executive Officer said, “We are very pleased that QRC will become a platform company within DC Capital’s portfolio of world-class businesses. Our mission is to bring best-in-class solutions in Radio Frequency Recording and Playback, Stimulation, and Cellular Survey to our customers. DC Capital’s long history in the government sector, experienced leadership team, impressive Board of Advisors, and strong record of successfully growing businesses will enhance the capabilities of the QRC team to support our customers and grow our business. With the backing of an industry leader like DC Capital, we can continue to grow the product line and provide a solutions oriented approach to our current customers, expand our customer base, and provide our employees with more personal and professional development opportunities.”
QRC will remain headquartered in Fredericksburg, Virginia and the management team, which will retain a significant equity position, will continue to lead the Company. DC Capital plans to meaningfully invest in QRC by increasing research and development efforts and adding more engineers and business development resources to better serve existing customers and to expand into new markets.
Raymond James & Associates, Inc. acted as financial advisor and DLA Piper acted as legal advisor to QRC in connection with the transaction. Arnold & Porter, LLP acted as legal advisor to DC Capital.
About QRC Technologies
QRC Technologies designs, develops, and services a host of proprietary Radio Frequency products and provides comprehensive integrated solutions primarily for government, military, and law enforcement agencies. These products and solutions address a wide range of SIGINT and COMINT missions for the tactical user community. QRC’s products are employed globally on a myriad of manned, unmanned, and autonomous platforms and labs. QRC was founded in 1987 and is headquartered in Fredericksburg, Virginia. Learn more at www.qrctech.com.
About DC Capital Partners
DC Capital Partners is a private equity investment firm headquartered in Alexandria, Virginia focused on making control investments in middle market, U.S.-based, Government Services and Engineering & Construction Services businesses. Learn more at www.dccapitalpartners.com