Bluestone Investment Partners Announces Investment in Precise Systems, Inc.

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May 09, 2023, 09:00 ET

Precise Systems specializes in advanced engineering, full-lifecycle program management, and software development services

LEXINGTON PARK, Md. and MCLEAN, Va., May 9, 2023 /PRNewswire/ -- Precise Systems, Inc. has received a strategic investment by Bluestone Investment Partners, a McLean, Virginia-based private equity firm, to accelerate the growth of its business. Founded in 1990, Precise Systems is a Lexington Park, Maryland-based provider of mission readiness and software development services to the U.S. Navy, U.S. Marine Corps and U.S. Air Force. In addition to its headquarters office adjacent to Naval Air Systems Command Headquarters at Patuxent River, Precise Systems maintains offices at Naval Surface Warfare Center Crane Division in Indiana, Naval Undersea Warfare Center Division Newport in Rhode Island, Naval Surface Warfare Center Port Hueneme Division in California, and a software development group based in Brentwood, Tennessee. Precise Systems employs over 800 dedicated staff supporting customers at locations in over 30 states across the country.

Coincident with the transaction, former Precise Systems President Scott Pfister has assumed the role of Chief Executive Officer. As part of the transaction, Mr. Pfister and former Chief Executive Officer, Tom Curtis, will join Precise Systems' board of directors.

"There is a lot of opportunity for growth delivering modernized engineering and program management solutions for our current customers across the Navy and new customers throughout the Department of Defense," said Scott Pfister, Chief Executive Officer of Precise Systems. "Collaborating with an experienced, sector-focused partner like Bluestone will help us accelerate that growth." Prior to his appointment as Precise Systems' CEO, Mr. Pfister served as its President and Chief Operating Officer for nine years, helping to lead the company through a phase of significant growth. Before joining Precise Systems, Mr. Pfister served on active duty in the United States Marine Corps for over 11 years. He was a highly decorated Marine CH-53E Crew Chief with several deployments overseas.

"We are excited to partner with a highly experienced management team led by Scott," commented Bluestone Partner Mike Ivey. "We have been extremely impressed by the team's level of commitment to their customers' missions and we are excited about the opportunity to expand the business and its capabilities through strategic M&A."

Precise Systems was advised in the transaction by Chertoff Capital, LLC.

About Precise Systems

Precise Systems is a professional services company providing advanced engineering, program and project management, acquisition and lifecycle support, and information technology services. Founded in 1990, the Company has provided cutting-edge solutions and support to the Department of Defense since its establishment. Precise Systems understands and provides expert consultation on network and weapons systems programs, maintenance and modernization programs, and sustainment programs.

About Bluestone Investment Partners

Bluestone is a private equity firm investing exclusively in lower middle-market companies in the defense and government services arena. Bluestone's principals have a long and successful track record owning, operating, investing in, and advising companies in the defense and government services sector.

SOURCE Bluestone Investment Partners