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Defense Contractor Xcelerate Secures Investment From McNally Capital, Nio Advisors; Mark Drever Quoted

Chicago-based private equity firm McNally Capital and Nio Advisors have invested in defense and national security company Xcelerate Solutions in a transaction that will enable the latter to expand its offerings in enterprise security, digital transformation and strategic consulting areas and offer career development opportunities to its employees.

Xcelerate said Thursday it will operate as a platform company and adopt a merger and acquisition approach as part of its growth strategy.

Mark Drever, CEO and founding partner of Xcelerate, will continue to oversee the company as chief executive and Daniel Olmes will remain president and chief operating officer. Marlene Harold will continue to serve as chief growth officer.

“Xcelerate is focused on growing to a $500M firm in the next 3-7 years and will continue to add personnel and capabilities to ensure we are ready for the exponential growth to come,” said Drever.

“This partnership with McNally Capital and Nio Advisors aligns perfectly for our firm, particularly given their significant national security expertise. We are excited about the continued growth McNally, Nio, and their strong network will enable,” he added.

KippsDeSanto served as sole financial adviser to Xcelerate, while PilieroMazza and McDonald Hopkins acted as the company’s legal advisers in the transaction.

Ropes & Gray acted as McNally Capital’s legal counsel in the deal.

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