The McLean Group

The McLean Group is pleased to have served as exclusive financial advisor to Syntasa on its strategic investment from Verix Equity Partners. Syntasa is a sovereign agentic AI and data platform that turns sensitive data into decisions and actions on infrastructure customers control, deployed from public cloud to the nation's highest classified environments on an open, model-agnostic architecture. Founder and CEO Jay Marwaha will continue to lead the company and retains significant ownership alongside Verix. The transaction is the inaugural platform investment for Verix, a private equity firm focused on founder-owned businesses across the national security and technology ecosystems. Together, they will invest behind accelerated R&D in sovereign AI and agentic workflows, expanded go-to-market capacity, and targeted acquisitions. Congratulations to Jay Marwaha and the entire Syntasa team. We were glad to support you on this milestone. Thank you to the advisors who supported the process: Dorsey & Whitney LLP, Proskauer Rose LLP, Morrison Foerster, EY, and ADG Partners. Read the full announcement: https://lnkd.in/e3mzzaDt #MergersAndAcquisitions #InvestmentBanking #SovereignAI #NationalSecurity #PrivateEquity Paul Klick, Jackson Faunce & Brendan Murray 

The McLean Group is pleased to announce that it served as financial advisor to TENICA Global Solutions on its majority investment from McNally Capital. Founded in 2008 and headquartered in Chantilly, Virginia, TENICA is a leading provider of integrated engineering, mission operations, cybersecurity, and digital modernization solutions supporting critical space, intelligence, and defense missions for the U.S. Intelligence Community and the Department of War. McNally Capital is a Chicago-based private investment firm that partners with founder, family, and management-led businesses across the national security, defense, and industrials ecosystems. The partnership gives TENICA access to capital, sector expertise, and an extensive industry network to accelerate growth and expand its portfolio of differentiated capabilities, while preserving the mission-focused culture that has defined the Company to date. TENICA will continue operating under its established leadership team. "TENICA has built a trusted reputation over nearly two decades by solving some of the nation's most complex national security challenges," said Joshua Butler, Managing Director, The McLean Group. "McNally Capital brings the capital, sector knowledge, and operational expertise to build on that foundation, and we are excited to see the next phase of TENICA's growth." Congratulations to Nicholas S. and the entire TENICA team, and to Ward McNally and the team at McNally Capital. We would also like to recognize the advisors who contributed to a successful outcome: - PilieroMazza PLLC (Kristen Centre and Morgan Baker) served as legal counsel to TENICA Global Solutions. - Ropes & Gray LLP (Janet Coscino) served as legal counsel to McNally Capital. - Venable LLP provided government contracting counsel. Read the full announcement: https://lnkd.in/eCX_s8zw #MergersAndAcquisitions #InvestmentBanking #NationalSecurity #GovCon #PrivateEquity #MiddleMarket #Cybersecurity - Mitchell Martin, Joshua Butler, Matthew Harrington & Jackson Faunce

Meet Tim Jones, one of our 2026 Summer Analysts at The McLean Group. Tim joins us with a strong foundation in finance and a growing interest in the technology and government services sectors. At Virginia Tech he's an active member of the Investment Banking Group and Finance Club, and he previously interned at Razor's Edge Ventures, gaining early exposure to the private capital landscape. This summer, Tim is working alongside our M&A advisory team on market analysis, transaction execution, and sector research across the middle market. We're glad to have Tim on the team and look forward to seeing where his career takes him. #InvestmentBanking #MiddleMarket #SummerAnalyst #InternSpotlight #TheMcLeanGroup #Valuation

The McLean Group is pleased to welcome Henry Erkmann as a Summer Analyst. Henry is pursuing a B.S. in Commerce at the University of Virginia’s (UVA McIntire School of Commerce), where he has distinguished himself through strong academic performance and involvement in organizations including Virginia Men’s Club Rugby, Beta Theta Pi, and the Virginia Trap and Skeet Club. His previous experience spans public service, renewable energy, and consulting, including roles with the Office of U.S. Senator Dan Sullivan, Summit Ridge Energy, and Profit With Purpose. An Eagle Scout, Henry also brings a demonstrated commitment to leadership, teamwork, and community service. Throughout his time with us, Henry has impressed the team with his thoughtful approach to complex challenges, strong work ethic, and ability to anticipate the broader implications of his work. His intellectual curiosity, sound judgment, and willingness to take initiative have made him a valued member of the team. We are excited to have Henry at The McLean Group and look forward to his continued contributions this summer. #SummerAnalystSpotlight #InvestmentBanking #TheMcLeanGroup #UniversityOfVirginia #McIntire

Our Q2 2026 M&A Insider Report is now available. Defense M&A closed 98 transactions, headlined by TransDigm's $2.2B acquisition of Victor Sierra Aviation and Jet Parts Engineering and Howmet Aerospace's $1.8B acquisition of Consolidated Aerospace Manufacturing. Also inside: ServiceNow's $7.75B acquisition of Armis, Cyber/Technology Security multiples at 81.7x LTM EBITDA, and 38 Critical Infrastructure deals, including Oldcastle Infrastructure's $700M acquisition of Axius Water Holdings. Maritime M&A in Q2 was led by Wynnchurch Capital's $450M acquisition of Arcosa Marine Products and Abu Dhabi Ports Company's $299M acquisition of Global Feeder Shipping. Full report with sector commentary, valuation multiples, and public company benchmarks: https://lnkd.in/emN7Z9K8 #InvestmentBanking #MergersAndAcquisitions #GovCon #Cybersecurity #MiddleMarket

The McLean Group is proud to have served as the exclusive financial advisor to ESChat on its acquisition by JVCKENWOOD. JVCKENWOOD’s acquisition of ESChat represents a highly strategic combination in the critical communications sector. By integrating JVCKENWOOD's world-class professional Land Mobile Radio (LMR) hardware and global distribution with ESChat's industry-leading, carrier-independent broadband Push-to-Talk (PTT) technology, the transaction directly addresses the market's shift toward seamless LMR-to-LTE interoperability. This partnership accelerates JVCKENWOOD’s digital wireless communications strategy while providing ESChat with the global scale and resources to further expand its secure, real-time voice and data solutions across public safety, federal, defense, and commercial markets. It was a pleasure working alongside the ESChat team throughout this process, and we are looking forward to seeing what the combined organization delivers next. Congratulations to ESChat’s executive team, the JVCKENWOOD leadership team, and the entire transaction teams on both sides who worked hard to get this transaction across the finish line. 📰 Read the full announcement here: https://lnkd.in/eHycXPAx #MergersAndAcquisitions #PublicSafety #PushToTalk #InvestmentBanking #CorporateDevelopment Paul Klick

The McLean Group is proud to have served as the exclusive financial advisor to Highlight Technologies on its announced acquisition by Empower AI, a portfolio company of KKR. Empower AI's acquisition of Highlight Technologies is a logical fit. Empower AI's AI-first, accelerator-based delivery model paired with Highlight's deep agency relationships and mission-focused execution creates a platform with real scale, real technology, and real impact for federal customers. Just as important, it gives Highlight's employee-owners a strong, growth-oriented home to continue the work they've built since 2008, backed by KKR's resources and Empower AI's federal AI practice. It was a pleasure working alongside the Highlight team throughout this process, and I'm looking forward to seeing what the combined organization delivers next. Congratulations Highlight's CEO Aarish Gokaldas, Empower AI's CEO Jeff Bohling and the entire leadership teams on both sides who worked hard to get this transaction across the finish line. 📰 Read the full announcement here: https://lnkd.in/eMB_MEcM #MergersAndAcquisitions #FederalIT #ArtificialIntelligence #InvestmentBanking #CorporateDevelopment Mitchell Martin, Joshua Butler, Brendan Murray

The McLean Group is pleased to welcome Jacob Todd to our Summer Analyst Program. A rising senior at Princeton University, Jacob brings a strong interest in investment banking to the team. Last summer, he worked as an Analyst at Cornerstone Advisory, where he supported managing directors and clients, developed financial analyses and presentation materials, and assisted in preparing investment marketing materials. Outside the office, Jacob is a midfielder on Princeton's men's lacrosse team, which captured both the 2026 Ivy League and NCAA National Championships, capping off a 17-2 season. When he's not on the field or in the office, Jacob runs his own youth lacrosse training business, coaches for the Annapolis Hawks, and enjoys reading and golfing in his free time. We're excited to have Jacob on board this summer and look forward to the contributions he'll make. Welcome to the team! #SummerAnalyst #McLeanGroup #MergersAndAcquisitions #Valuation 

Goodwill impairment testing under ASC 350 carries real financial consequences, and with rising discount rates compressing fair values independent of operating performance, the margin for a poorly documented analysis has never been narrower. For PE-backed companies, that means the difference between a well-supported impairment charge and a reactive one can affect both timeline and price when it matters most: at exit. In our latest article, The McLean Group's Valuation Advisory team breaks down how the ASC 350 framework works, what triggers interim testing outside the annual cycle, what a defensible file actually contains, and what a goodwill charge means heading into a sell-side process. Read the full article: https://lnkd.in/ebFH---B #GoodwillImpairment #ASC350 #BusinessValuation #ValuationAdvisory #MergersAndAcquisitions #PrivateEquity #MiddleMarket #QualityOfEarnings #GAAP #TheMcLeanGroup

Middle market M&A remained active despite macro headwinds. A few transactions worth noting from our latest M&A Insider Report: Select May Transactions - Parker Hannifin acquired CIRCOR's Commercial and Defense Aerospace business from KKR for $2.55B, creating a more diversified aerospace and defense supplier - VSE Corporation completed its $2.15B acquisition of Precision Aviation Group, forming an independent aviation aftermarket platform with 61 locations across 8 countries - Rocket Lab acquired Motiv Space Systems for $60M, adding Mars-proven robotics to its portfolio - Computacenter completed its acquisition of Government Acquisitions Inc., integrating a federal VAR into its North American operations On the valuation side, Defense Systems continued to lead all sectors at 13.9x EBITDA (LTM), while Government Contractors held at 11.4x amid renewed IT modernization contract activity. Cyber/Technology Security valuations remain elevated at 43.3x LTM EBITDA, reflecting continued investor demand. Download the full report: https://lnkd.in/eSDpeFRf #MergersAndAcquisitions #MiddleMarket #DefenseMA #PrivateEquity #BusinessValuation #McLeanGroup