Lafayette Square provided a debt facility to support the NewSpring’s acquisition of Xpect Solutions, a systems integrator that specializes in IT and physical security solutions.
“At Lafayette Square, we are committed to investing in small businesses that not only demonstrate strong growth potential, but also contribute meaningfully to the communities in which they exist,” Tom Mullin, director of Lafayette Square, said. “We look forward to partnering with NewSpring to strengthen Xpect’s position as a leader in secure, scalable solutions for federal agencies and businesses, while also creating opportunities for the workforce that drives its success.”
“We are excited to join forces with NewSpring and Lafayette Square as we enter this next phase of growth,” Yusuf Abdul-Salaam, CEO of Xpect Solutions, said. “Lafayette Square’s commitment to investing in growing businesses and valuing human capital aligns perfectly with our vision for the future. With their support, we are well-positioned to continue scaling and strengthening our services in critical IT and security environments.”
“Xpect’s proven track record in delivering critical IT and physical security solutions to government agencies makes it an ideal platform for our federal-focused strategy,” Lee Garber, general partner of NewSpring, said. “This acquisition represents a key step in our plan to build a comprehensive solutions-focused business serving the government services sector.”
