NEW YORK: FVLCRUM Funds announced Tuesday it has acquired Fidelity Technology Services, a provider of military simulation training systems and services to the U.S. Department of War and allied nations.

Terms of the deal were not disclosed.

FTS, founded in 1987 and headquartered in Reading, Pennsylvania, provides advanced training and simulation services for the U.S. Navy, U.S. Air Force and allied defense partners worldwide. The company will join FVLCRUM’s portfolio of IT, simulation, services and training providers as part of its Project Maverick strategy.

“FTS, a recognized leader in simulation and training, will bring a full array of industry-leading solutions that complement Advanced IT’s IT and simulation offerings,” said Juan Navarro, CEO of Maverick.

The acquisition adds FTS to a portfolio that includes Advanced IT Concepts, which provides IT infrastructure integration, cybersecurity and simulation services to the Department of War and allied foreign nations. Together, the companies form a comprehensive flight simulation and training platform with capabilities spanning all branches of the U.S. military.

Advanced IT and FTS will operate as independent business entities for contracting purposes and will roll up under the FVLCRUM Maverick Acquisition Company, led by Navarro. The structure will enable the businesses to collaborate on opportunities and leverage each other’s strengths.

“This acquisition reflects FVLCRUM’s commitment to serving the readiness of U.S. military personnel through partnerships with strong management teams and investments in businesses that provide essential services, create economic opportunity and generate long-term value,” said FVLCRUM partner Andre Castillo.

FVLCRUM Funds is a growth-driven private equity firm investing in lower middle-market companies that provide mission-critical services to large enterprises and governments. Since 2013, the team has applied a capital markets approach to addressing the U.S. wealth gap.