The McLean Group Advises Cadmus on its Investment by Enlightenment Capital

MCLEAN, VA – October 5, 2017 – The Cadmus Group LLC (Cadmus), headquartered in Waltham, MA, completed a recapitalization providing the Company with an amended senior debt facility and capital to support future growth initiatives. Cadmus explored a range of financing alternatives, and through a competitive process, selected a strategic investment from Enlightenment Capital, an aerospace, defense and government-focused investment firm based in the Washington, DC area. The investment will support Cadmus’ exploration of opportunities for strategic acquisitions and expansion into new markets. The McLean Group’s Aerospace, Defense & Government Services (ADG) practice served as the exclusive transaction advisor to Cadmus. Terms of the investment are not disclosed.

Founded in 1983, Cadmus is a technical and strategic consultancy serving clients in the areas of energy, climate, homeland security, the natural and built environments, public health, and international development. Cadmus’ more than 500 consultants serve government, commercial and nongovernmental organizations domestically and abroad.

Cadmus’ CEO, Ian Kline, said, “We engaged The McLean Group to help raise capital to facilitate our continued growth, both organic and through M&A. They ran a two-step process that helped us first analyze and assess a wide range of financing alternatives and then execute on raising the capital, providing valuable support throughout the entire process. Their data-driven, analytical approach provided detailed insight into the benefits and considerations of different alternatives so that we could make an informed decision and pursue the right structure. The resulting transaction represents a great outcome for our business and, through Enlightenment, adds a key partner to help continue expanding our capabilities and growing our firm.”

This transaction highlights the broad range of financing options available to well-positioned companies in the aerospace, defense and government services marketplace. Cadmus evaluated multiple financing strategies and scenarios including senior bank debt, subordinated debt, participating preferred equity, and minority equity investments. These financing alternatives can be utilized to meet a range of operational requirements including supporting working capital needs, providing growth capital for merger and acquisition activity, funding ESOP transactions, making strategic investments, and providing shareholder liquidity.

The McLean Group is a leading investment bank that provides objective strategic and financial advice on mergers and acquisitions, debt and equity recapitalizations, ESOPs and business valuations. The M&A Group is organized around three verticals: Defense & Government Services, Critical Infrastructure and Technology & Security. The McLean Group applies comprehensive industry knowledge, extensive transactional expertise, a real-time understanding of industry-specific valuation drivers, and senior-level attention to every client engagement it undertakes.