Veritas Capital has invested an undisclosed amount in Epiq Solutions, a provider of software-defined radio and turnkey radio frequency platforms to government and enterprise customers, through the private equity firm’s $1.8 billion Vantage Fund.
Epiq co-founders John Orlando, Aaron Madsen and Michael Shogren will maintain a substantial ownership position and continue to oversee the company as CEO, chief technologist and chief operating officer, respectively, Veritas said Tuesday.
“Veritas’ deep network, expertise investing at the intersection of technology and government, and collaborative approach will support our continued investment in product advancement and our rapid expansion into new markets,” said Orlando.
Established in 2009, Epiq offers small form factor products for embedded computing applications in support of military and commercial clients. The company’s offerings use open architecture standards to enable customers to facilitate technology insertion and speed up modernization efforts.
Rolling Meadows, Illinois-based Epiq will operate as a portfolio company of Vantage Fund, which pursues investment opportunities in the middle market.
Latham & Watkins acted as Veritas’ legal counsel in the transaction. Raymond James and Miles & Stockbridge served as financial adviser and legal counsel, respectively, to Epiq Solutions in the transaction.