Boecore acquired by a defense technology investment company | News
Enlightenment Capital, a Washington, D.C. investment firm that funds small and midsize aerospace defense companies, acquired Colorado Springs-based space and defense technology contractor Boecore last week, according to a joint press release. companies.
Boecore has become a leading supplier of defense technology solutions to the federal government in the areas of aerospace, missile defense and strategic deterrence, according to the statement. In 21 years, Boecore has grown to 275 employees, expanded to three more U.S. cities, and experienced year-over-year growth since its inception, said Kathy Boe, the company’s founder and former chief executive. .
Boe started Boecore in 2001 in the basement of her Colorado Springs home and with the acquisition, she is now a minority shareholder, board member and consultant to the company. She said she was “excited” to expand the company’s capabilities – particularly in space and missile defense visualization, planning and gamification – and to provide more opportunities for employees in advance and diversify in their careers.
“That’s been our drive — not just making sure our clients’ assignments are successful, but creating these growth opportunities for our employees,” the majority of whom work in Colorado Springs, Boe said.
She said Enlightenment is licensed as a small business investment firm with the US Small Business Administration, a program that provides $2 from the federal government for every $1 invested by private investors in small businesses, such as Boecore. Enrolling the company in the program allows Boecore to remain classified as a small business, if it remains below 1,250 employees, and to continue bidding on government contracts reserved for small businesses, Boe said.
The acquisition is also a positive sign for the Colorado Springs business community, showing that small, locally-run businesses can attract interest from large, national corporations, she said.
“We’re known for being a small business-friendly city, and people love to see small businesses grow and succeed,” Boe said. “The fact that we can keep Boecore and be this new platform company and this brand new fund, and be able to add to the value that we are already providing…it’s really good.”