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Brightstar Capital Partners to Acquire Stratus, a Platform of Engineering, Architecture, and Consulting Firms

NEW YORK, July 1, 2024Brightstar Capital Partners (“Brightstar”), a middle market private equity firm focused on investing in industrial, manufacturing, and services businesses, announced today that it has signed a definitive agreement to acquire Stratus Team, LLC (“Stratus” or the “Company”) from Godspeed Capital Management LP (“Godspeed Capital”). Stratus is a platform of multi-disciplinary engineering, architecture, and consulting firms. Mike Burke, former Chairman and CEO of AECOM, serves as an advisor to Brightstar and is expected to serve as Chair of Stratus’ Board of Directors upon completion of the transaction. Stratus’ senior management will retain a minority stake in the Company.

Stratus is a platform of full-service engineering, architecture, and consulting firms for the full project lifecycle, from initial planning and feasibility studies to final construction oversight. The Company’s businesses provide innovative and differentiated design services and solutions to both public and private sector clients across the globe, with a strategic focus on serving the high-growth economies of the Southeastern United States.

“Joining forces with Brightstar is an important milestone for Stratus and we look forward to accelerating our growth and continuing to provide innovative services to clients across multiple end markets,” said Brandon Enochs, CEO of Stratus. ”Brightstar’s operational expertise and experience integrating strategic acquisitions resonate deeply with our vision for the future.”

“I am excited about Stratus’ potential to scale by continuing to execute on its M&A and organic growth strategies,” said Mr. Burke. “Brightstar’s expertise and resources, combined with Stratus’ platform and differentiated solutions, can create a powerful engine for growth. I am honored to play a role in the Company’s future.”

“We are thrilled to welcome Brandon and the Stratus team to Brightstar,” said Andrew Weinberg, Founder & CEO of Brightstar. “This acquisition aligns perfectly with our strategy to partner with accomplished management teams and work hand-in-hand to fully integrate platforms and drive growth in fragmented industries.”

“We are proud of what Stratus has achieved under our ownership and believe that Brightstar is the right partner to lead the company on the next leg of its journey,” said Doug Lake, Founder & Managing Partner of Godspeed Capital. “The leadership team at Brightstar, along with their strategic vision and commitment to excellence, gives us confidence that Stratus will continue to thrive and expand its impact.”

Citi is serving as financial advisor and Kirkland & Ellis LLP is serving as legal counsel to Brightstar. Houlihan Lokey is serving as financial advisor and Latham & Watkins LLP is serving as legal counsel to Stratus.

About Stratus Team

Stratus is a leading multi-disciplinary engineering and architecture consulting services platform. Formed through the alliance of seven established firms, Stratus offers a deep bench of industry experts and a collaborative approach to deliver innovative solutions throughout the entire project lifecycle. While Stratus’ focus extends beyond the Southeast US, the firm maintains a strategic commitment to serving the high-growth economies of this region. Dedicated to building vibrant communities and fostering the professional growth of its team, Stratus ensures the highest quality service for its public and private sector clients. For more information, please visit www.stratusteam.com.

About Brightstar Capital Partners

Brightstar Capital Partners is a middle market private equity firm focused on investing in industrial, manufacturing, and services businesses where Brightstar believes it can drive significant value with respect to the management, operations, and strategic direction of the business. Brightstar employs an operationally intensive “Us & Us” approach that leverages its extensive experience and relationship network to help companies reach their full potential. For more information, please visit https://brightstarcp.com.

About Godspeed Capital

Godspeed Capital is a lower middle-market Defense & Government services, solutions, and technology focused private equity firm investing alongside forward-thinking management teams that seek an experienced and innovative investment partner with unique sector expertise, operational insight, and flexible capital for growth. While a typical investment will involve companies generating approximately $3 million to $30 million of EBITDA, Godspeed Capital has significant support to complete larger transactions through strategic co-invest relationships. The firm focuses on control buyouts, buy-and-builds, corporate carve-outs, and special situations. For more information, please visit www.godspeedcm.com.