ACORN GROWTH COMPANIES SELECTED FOR DEPARTMENT OF DEFENSE TRUSTED CAPITAL MARKETPLACE PROGRAM
September 29, 2020 8am
OKLAHOMA CITY, OK – Acorn Growth Companies (“Acorn”), a private equity firm investing exclusively in aerospace, defense and intelligence (‘‘AD&I‘‘), announced today its selection by the Department of Defense (“DoD”) to participate in the Trusted Capital Marketplace (“TCM”) program as a source of pre-qualified funding for the country’s most critical AD&I suppliers.
The TCM program is a DoD Office of Industrial Policy initiative to strengthen the U.S. defense industrial base by leveraging the financial resources and acumen of trusted sources of U.S. private capital. The program unites two key stakeholder groups for mutual benefit: suppliers of products and services critical to national security priorities and DoD-vetted capital providers who possess security clearances, sector investment expertise, and operational scale. The resulting partnership enhances the innovation and capabilities available to support national security priorities, while concurrently protecting suppliers from adversarial capital.
“We are extremely proud and honored to be chosen to serve as a trusted capital partner and one of the very first private equity firms included in the TCM program,” said Rick Nagel, Managing Partner, Acorn Growth Companies. “The mandate of TCM -- to strengthen our country’s capabilities essential to our national security -- is directly aligned with Acorn’s core mission and investment focus. We are enthusiastic about the opportunity to bring our firm’s unique qualifications and experience to bear in support of the national security supplier base.”
Nagel added, “The timing of Acorn’s inclusion in this program, combined with the recent first closing on Acorn’s latest fundraise (Fund V), uniquely positions Acorn to support the DoD and the U.S. industrial base for years to come. While we long have had minimal competition in our segment of the private equity market, the TCM program should provide us years of proprietary deal flow.”
“We applaud the DoD for developing such an innovative approach to building a trusted ecosystem to meet the deal flow objectives of private capital and the capital needs of leading firms in the national security supply chain,” added Matthew Ritchie, Managing Director, Acorn Growth Companies. “The TCM program focuses on technologies and sectors at the core of the Acorn investment strategy, thereby creating an ideal pipeline of small-buyout opportunities for our fund platforms.”
Acorn Growth Companies is a middle market private equity firm focused exclusively on Aerospace, Defense and Intelligence. Acorn invests solely in operating companies that strive to enhance global mobility and protect national interests. Acorn has a formidable reputation in the industry and is recognized for its deep understanding of the Aerospace, Defense and Intelligence markets, with proprietary access to the best companies within these sectors. With operational expertise and its ability to lead and manage investments through variable economic and industry cycles, Acorn works in tandem with management to build its portfolio companies into significant market leaders.
Rick Nagel, Acorn