Broadtree Partners has purchased Joint Research and Development, a professional services provider headquartered in Stafford, Virginia, in a move to grow the private equity firm’s government contracting portfolio.
Financial terms of the transaction were not disclosed and Broadtree said Thursday JRAD will join Sayres Defense, which the middle-market private equity firm acquired in 2021.
Tim Reardon, CEO and chairman of the board of Sayres Defense, will lead the combined operations as CEO while Terri Hague, chief operating officer of JRAD, will serve as president of Broadtree’s latest portfolio company.
JRAD supports defense, civilian and homeland security agencies in areas such as systems engineering and integration, counter-weapons of mass destruction, modeling and simulation and laboratory and non-laboratory sciences.
Evergreen Advisors Capital and Pillsbury Winthrop Shaw Pittman acted as exclusive financial and legal advisers to JRAD on the transaction.
Holland and Knight served as the legal adviser to Broadtree Partners and Sayres Defense.
