Brightstar Capital Partners Acquires Majority Stake in ERC Incorporated, a Leading Provider of Mission Critical Engineering and Consulting Services
Investment in the family-owned business represents first transaction in a promising new sector for the firm
NEW YORK and HUNTSVILLE, Ala., May 11, 2021 /PRNewswire/ -- Brightstar Capital Partners ("Brightstar"), a private equity firm focused on partnering with families, founders, entrepreneurs and management teams, announced today that it has acquired a majority stake in Engineering Research and Consulting, Inc., ("ERC" or the "Company"), in partnership with the Company's owner and senior management team. Terms of the private transaction were not disclosed.
Headquartered in Huntsville, AL, ERC is a leading provider of mission critical engineering and consulting services to the US Department of Defense, NASA and other high-tech governmental entities. The Company's 2,200 employees nationwide provide advanced military and space research and development; test and evaluation; operations and maintenance; and IT, software, and network administration services.
The investment continues Brightstar's track record of partnering with family-owned businesses. ERC was founded in 1988 by the late Dr. Y.C.L. Susan Wu, the first woman to be awarded a Ph.D. in Aeronautical Engineering from the California Institute of Technology. Her son, Dr. Ernie Wu, will continue as Board Chair and CEO of the Company.
"We are impressed with ERC's capabilities and culture and see enormous potential for growth in the dynamic and fragmented government services and technology industry," said Michael Singer, a Managing Director at Brightstar. "Through accelerated investment in operational capabilities, as well as a focus on strategic acquisitions, we are confident that Ernie and the talented team at ERC will continue to provide best-in-class capabilities and services."
"As we got to know the Brightstar team, it quickly became clear that they share our values and care deeply about our team and the culture we've created," said Dr. Wu. "We will rely on their operational experience and capital resources as we begin a new and exciting chapter in our Company's history."
"We look forward to enhancing ERC's already proven ability to deliver mission critical systems engineering and technical assistance services," said Reidar Brekke, a Partner at Brightstar. "Our team has a great deal of relevant expertise with high-tech and government services businesses and is proud to be partnering with a business founded by a groundbreaking pioneer like Dr. Susan Wu."
About ERC
Headquartered in Huntsville, AL, ERC is a leading provider of mission critical engineering and consulting services to the US Department of Defense, NASA and other high-tech governmental entities. The Company's 2,200 employees nationwide provide advanced military and space research and development; test and evaluation; operations and maintenance; and IT, software, and network administration services. ERC was founded in 1988 by the late Dr. Susan Wu, the first woman to be awarded a Ph.D. in Aeronautical Engineering from the California Institute of Technology, and continues to be led by her son, Dr. Ernie Wu. For more information please visit https://www.erc-incorporated.com.
About Brightstar Capital Partners
Brightstar Capital Partners is a private equity firm focused on partnering with exceptional families, founders, entrepreneurs and management teams where the firm is ideally positioned to drive value creation. Brightstar employs an operationally intensive approach that leverages its extensive experience and relationship network to help companies reach their full potential. For more information please visit www.brightstarcp.com.
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SOURCE Brightstar Capital Partners
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