News

Phoenix Logistics Recapitalized and Acquires Riptide Software

pli riptide joining forces

Phoenix Logistics, Inc. (PLI), has implemented a strategic recapitalization coupled with a simultaneous acquisition of Riptide Software, Inc. Both transactions were backed by Chicago based Profile Capital Management with Phoenix Logistics, Riptide and the newly formed PLI Manufacturing establishing the group companies of parent Phoenix Defense, LLC.

Gilbert, Arizona based Phoenix Logistics, Inc. (PLI) has partnered with Chicago based Profile Capital Management to establish Phoenix Defense LLC. Phoenix Defense LLC includes Phoenix Logistics, Inc., PLI Manufacturing and recently acquired Riptide Software, Inc, an Orlando, Florida based software company that develops training products and technologies for military agencies. Financial terms of the deal were not disclosed.

The transactions blend PLI’s existing Department of Defense (DOD) Engineering Services, Logistics and Manufacturing capabilities services with Riptide’s Capability Maturity Model Integrated, Maturity Level 4 (CMMI ML 4) Software Development capabilities. The transactions closed on 11 May 2020.

PLI and Riptide offer substantial synergies that can be brought to bear to solve complex customer requirements. Their leadership and staffs have worked together on multiple DOD programs for the past 12 years, easing the integration of the companies and ensuring seamless transition with continued customer and mission focus. Recently, the two companies joined forces, with PLI as prime, to win the $516M Dollar Joint Land Component Constructive Training Capability (JLCCTC) contract.

Al Funderburk, CEO of newly formed Phoenix Defense LLC, commented on the deal:

“Our primary goal in this series of transactions was to align group company capabilities with capital access and strategic vision to ensure a great future for our employees while expanding offerings and continuing a long history of performance for our customers. We are also all very happy to have Riptide as part of the team and look forward to continuing support for our valued DOD customer base, in particular ACC Orlando, PEO STRI and Marine TRASYS, through progressively improved organic capabilities and additional strategic Mergers and Acquisitions”.

PLI’s Greg Williamitis will be Executive Vice President and General Manager for Phoenix Defense’s Engineering Services Division, including PLI and Riptide. Riptide’s Barry Clinger and Kent Banks will become Chief Technologist and Director of Engineering for Phoenix Defense’s Engineering Services Division (respectively). PLI’s SVP and GM Greg Lundberg will manage Phoenix Defense’s manufacturing arm, PLI Manufacturing. Riptide CEO and co-founder, Phil Loeffel, will provide consultative support for strategic business opportunities.

Hudson Capital Advisors (www.hudsoncap.net) acted as exclusive financial advisor to Phoenix Logistics for the Transaction.

 

News

Monday, June 15, 2020

Rick Stikkers Joins PLI as Chief Engineer

  Rick Stikkers - PLI Chief Engineer   RICK STIKKERS HAS JOINED PHOENIX LOGISTICS AND PHOENIX DEFENSE AS CHIEF ENGINEER We are very happy to announce that Rick ...

Read more
Monday, June 15, 2020

PLI Named Best Supplier for Northrop's Omega Rocket

PHOENIX LOGISTICS NAMED OUTSTANDING SUPPLIER FOR NORTHROP GRUMMAN’S OMEGATM ROCKET  OmegA will Launch National Security Missions for the U.S. Space Force [Gilbert, Ariz. 9 Ju...

Read more
Monday, May 11, 2020

Phoenix Logistics Recapitalized and Acquires Riptide Softwar

Phoenix Logistics, Inc. (PLI), has implemented a strategic recapitalization coupled with a simultaneous acquisition of Riptide Software, Inc. Both transactions were backed by Chicago ba...

Read more
Sunday, March 22, 2020

Phoenix Logistics, Inc. (PLI) Awarded Half Billion Dollar Co

Phoenix Logistics Awarded Joint Land Component Constructive Training Capability (JLCCTC) Prime Contract On 27 March 2020, Phoenix Logistics, Inc. (PLI) was awarded a $516,000,000 Prime ...

Read more
  • 0
  • 1
  • 2
  • 3