FVLCRUM Acquires Fidelity Technology Services for Maverick

A simulator upgrade gives its owner another configuration to maintain, another set of parts to support and another version of the training environment to understand. Fidelity Technology Services, based in Reading, Pennsylvania, works across those obligations, building military training systems and supplying the personnel who keep them useful.

FVLCRUM Funds announced its acquisition of Fidelity Technology Services on October 5, 2026, adding the business to Project Maverick alongside Advanced IT Concepts. The acquisition brings simulation, IT and training support into a common ownership structure, with Juan Navarro, CEO of Maverick, leading the strategy. Financial terms were not disclosed.

The businesses will retain separate contracting identities under FVLCRUM Maverick Acquisition Company. That structure puts an unusually practical question at the center of the transaction: how can a defense customer benefit from a broader group while still knowing which business is accountable for the work it has ordered?

What FVLCRUM acquired

Fidelity Technology Services, or FTS, traces its business roots to 1987, when Fidelity began as a contract manufacturer of circuit card assemblies and cable harnesses. Its official company history describes an early-1990s expansion into simulation and training systems and field support. Those activities brought the business closer to both the creation of military training equipment and its continuing use.

The same history records a 2024 split into Fidelity Technology Services and Fidelity Technologies Corporation. The acquired business is FTS, and the distinction matters when reading older company announcements or following the Fidelity brand across public profiles. A historical manufacturing description or executive title cannot automatically describe the present target.

FTS serves U.S. Navy, U.S. Air Force and allied defense customers, according to the acquisition announcement. Its simulation and training portfolio includes flight simulation, ground-force training, joint-fires training and loadmaster devices. The company also describes upgrades to existing training systems, extending the relationship beyond the delivery of new equipment.

For a buyer evaluating FTS, that mix connects product capability with continuing service. The simulator is an identifiable asset, but its usefulness also depends on the training around it and the work needed to keep its configuration relevant. Acquiring that relationship means taking an interest in what happens after the equipment reaches its destination.

Training continues after installation

FTS's field services make the continuing obligations visible. The company lists preventive and corrective maintenance, replacement parts, device operation, sustainment engineering, configuration management, courseware development and contract instructors. Its service descriptions also cover modifications and the relocation of training devices.

Consider the coordination required when equipment changes. The hardware modification, maintained configuration and instruction all relate to the same training environment, even when different people perform the work. FTS's disclosed service range gives the company a role across those tasks; the announcement provides no new performance figures with which to quantify that role.

Advanced IT Concepts brings another set of capabilities into the group, including systems integration, cybersecurity, IT enterprise services and training operations and maintenance. Its public website also identifies Foreign Military Sales advisory and training support. These capabilities offer a practical connection to the systems and organizations surrounding a military training program.

The commercial opportunity lies in making those relationships easier to coordinate. A customer seeking help with simulation and its supporting technology could have more expertise available within the same ownership group. Turning that availability into a coherent scope of work still requires the businesses to agree on responsibility, delivery and support for the customer's specific program.

A common owner, separate contractors

FVLCRUM says FTS and Advanced IT will operate as independent business entities for contracting purposes while rolling up under Maverick. Juan Navarro will lead the strategy as Maverick's CEO. The disclosed structure gives the companies a shared commercial direction while preserving a distinction that remains consequential when a customer enters a contract.

That is a particular approach to building a defense-services platform. The group can pursue collaboration around complementary expertise without presenting every existing activity as belonging to one newly merged contractor. For customers and prospective partners, the relevant questions concern the proposed scope, the responsible entity and the people who will perform each part.

FVLCRUM's acquisition announcement describes broader offerings and anticipated synergies. Those are the buyer's expectations for the relationship, and the announcement does not identify a new combined contract award, realized savings or an independently measured improvement in training readiness. The deal establishes the organizational arrangement from which those opportunities can be pursued.

Separate contracting identities also make the internal handoff worth following. A proposal involving both companies will need to translate the breadth of the group into a clear delivery plan. The customer must be able to see how IT integration, training equipment and ongoing service fit together within the commitments being made.

Maverick adds to an existing investment

Advanced IT was already part of FVLCRUM's portfolio before the FTS transaction. FVLCRUM's October 2023 acquisition announcement described a strategy to build cybersecurity and IT systems integration at greater scale. FTS adds military simulation and field-service expertise to that existing investment relationship.

The private-equity firm was co-founded by Benjamin S. Carson, Jr. and M. Harrison Perry, both managing partners. FVLCRUM partner Andre Castillo connects the new acquisition to military readiness, strong management teams and investment in essential services. That rationale makes the quality of ongoing service central to the investment story.

For defense technology operators, the disclosed service coverage is more informative than an invented transaction multiple. FTS brings training systems and sustainment work; Advanced IT brings supporting technology and integration. There is no disclosed purchase price, financing package or combined revenue figure from which to assess the economics of the acquisition.

Navarro now has a broader set of capabilities to bring into a customer discussion. The work ahead sits in the proposal, the configuration change and the support assignment: making the relationship between the 2 contractors understandable to the people procuring the service and dependable for the people conducting the training.