Delphinus, Shorepoint and Tenica close on acquisitions

Delphinus Engineering

Four months on from its receipt of external investment, this provider of naval-focused maintenance and modernization services has moved on an acquisition to add more logistics and sustainment work.

Delphinus is adding approximately 200 employees with its purchase of Professional Analysis, whose clients cut across the Navy and Marine Corps.

PAI opened for business in 2003 to work on military programs focused on ensuring operators have access to materials. PAI has recorded $10.2 million in unclassified prime contract obligations over the trailing 12 months, according to USASpending.gov data.

"The combination expands our ability to support the Navy and Marine Corps across engineering, maintenance, modernization, and logistics,” Delphinus chief executive Roby Lentz said in a release. “It is an important step toward our ambition of building the nation's premier naval sustainment organization.”

Bluestone Investment Partners backed Delphinus over the summer and Lentz was promoted to CEO from his former role as chief operating officer. Delphinus is positioning for opportunities connected with the Navy’s push to improve fleet readiness and bolster the maritime industrial base.

Wistlr acted as exclusive financial advisor to PAI.

Shorepoint

This federal cybersecurity company has moved to buy a suite of contracts with an eye toward growing its engineering, automation and assessment offerings for agencies.

Coalfire Federal, the public sector subsidiary of Coalfire Systems, primarily concentrates on requirements in areas such as risk management and compliance. The team also supports efforts in cybersecurity strategy, privacy, cloud computing and assurance.

Coalfire Federal has recorded approximately $8.4 million in unclassified prime contract obligations over the trailing 12 months with Health and Human Services Department work representing 57%, according to USASpending.gov data. The Interior Department is another major customer at 34% of the spend.

Shorepoint is making this acquisition with the backing of CM Equity Partners, which closed its growth capital investment in the fall of 2025. The Coalfire Federal arm was stood up in 2017 to manage the federal cyber portfolio inherited from Veris Group, which Coalfire Systems acquired in 2016.

TideLock Partners acted as financial adviser to Coalfire Federal.

Tenica Global Solutions

Tenica has acquired a fellow provider of IT, systems engineering and integration services for intelligence agencies with the goal of further building out a portfolio of technical offerings for those customers.

Trinity Enterprise Services opened for business in 2014 to focus on programs in areas such as enterprise IT operations and infrastructure, data centers and cloud computing, systems integration, cybersecurity and compliance, and mission integration.

With this transaction, Tenica is pushing to broaden its customer reach and add a team of cleared engineers and other technical professionals that work in sensitive mission sets.

For Tenica, this move follows the company’s sale to private equity firm McNally Capital during the summer. Tenica is one of nearly a handful of contractors in McNally’s portfolio, which focuses on defense and intelligence.

“This acquisition represents an important next step in our strategy to expand and reinforce Tenica's already strong presence in the intelligence community and create a more comprehensive suite of mission-critical solutions,” Tenica chief executive Nicholas Scherling said in a release.

PilieroMazza provided legal counsel to Tenica. Evergreen Advisors Capital was the financial adviser to Trinity, for which Miles & Stockbridge provided legal counsel.