Broadtree Partners Acquires Joint Research and Development for GovCon Platform Business

WASHINGTON, June 22, 2023 /PRNewswire/ — Broadtree Partners, a middle-market private equity firm with a specific focus on aerospace, defense, intelligence, and federal civilian government services, has acquired Joint Research and Development (JRAD). JRAD is a leading provider of test and evaluation services, total life-cycle acquisition support, medical and public health preparedness, and science and technology research and development to government customers including DOD, DHS, and Federal Civilian Agencies. JRAD has extensive expertise in defense and homeland critical areas including weapons of mass destruction, emerging CBRN threats, modeling and simulation, systems engineering and integration and laboratory and non-laboratory sciences.

With this acquisition, JRAD becomes the second company in Broadtree’s GovCon platform, joining Sayres Defense, a leading provider of systems engineering and mission support services to the Department of Defense. Tim Reardon, current CEO of Sayres Defense and prior Lockheed Martin and Leidos senior executive, will lead the combined companies as CEO.  With long legacies of outstanding performance in the GovCon national security market, JRAD and Sayres will now be working together with unified, mission-focused operational and financial leadership. Working in collaboration with Tim and continuing her leadership role within JRAD, Ms. Terri Hague, current JRAD COO, has accepted a new position as the President of JRAD.

“We’re extremely excited to add JRAD to our GovCon platform – JRAD has a unique culture of customer and mission-focused performance and remarkably talented people supporting critical national security programs across the Federal Government,” says Reardon. “JRAD is a great step forward towards achieving our goal of building the next great middle-market support contractor.”

Evergreen Advisors Capital served as exclusive financial advisor to JRAD. Holland and Knight served as legal advisor to Broadtree Partners and Sayres Defense and Pillsbury Winthrop Shaw Pittman LLP served as legal advisor to JRAD. NextFed provided market and commercial due diligence analysis and Aprio provided tax and transaction advisory services for Broadtree and Sayres Defense.

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