Candlewood Partners (“Candlewood”), a middle market investment bank with a proven track record of advising clients across the defense and government services sectors, is pleased to announce its role as financial advisor to Valiant Integrated Services (“Valiant”) in connection with the sale of its operations and maintenance division to Inspirit Equity, a Los Angeles-based private investment firm.
The divested business now operates independently as Vulcan Government Services (“VGS”), delivering facility operations, maintenance, and logistics services to U.S. government agencies. Its work spans hospitals and medical facilities, research laboratories, and other critical infrastructure, alongside chemical management and logistics support, delivered under a diversified base of long-term contracts both in the United States and overseas.
The transaction was a complex corporate carve-out. Standing up a mission-critical government services business as an independent company required the separation of operations, contracts, financial systems, and organizational infrastructure, coordinated across the seller, the buyer, and the government customers the business serves. VGS will continue to be led by Chuck Phillips, who has run the operations and maintenance business since joining Valiant in 2023, as Chief Executive Officer. Chuck commented:
“Vulcan begins this next chapter with a talented team, trusted customer relationships and a strong track record of delivering on critical missions. With Inspirit as our partner, we’re excited to build on that foundation, pursue new opportunities and position Vulcan for long-term growth.”
For Valiant, the divestiture sharpens the focus of its remaining platform. As a standalone company, VGS gains the focus and flexibility to expand its business development capacity, broaden its construction capabilities, and pursue growth across existing and adjacent end markets.
Phil Rawson, Vice President at Candlewood Partners, commented:
“We are proud to have supported Valiant through the carve-out of a business whose work is mission-critical to the agencies it serves. Separating an operation like this one while protecting contract performance and customer continuity demanded disciplined execution from everyone involved, and the result leaves both Valiant and the divested business well positioned for what comes next. This is exactly the kind of complex, execution-intensive engagement that defines Candlewood’s value to clients.”
ABOUT VULCAN GOVERNMENT SERVICES
Vulcan Government Services, formerly the operations and maintenance division of Valiant Integrated Services, is an independent provider of facility operations, maintenance, and logistics services to U.S. government agencies. The company supports hospitals, medical facilities, research laboratories, and other critical infrastructure, and provides chemical management and logistics support services, under a diversified portfolio of long-term contracts domestically and overseas.
ABOUT INSPIRIT EQUITY
Inspirit Equity is a Los Angeles-based investment firm that acquires and partners with businesses holding strong market positions and clear opportunities for growth. The firm works closely with management teams to strengthen operations, invest in people and infrastructure, and support long-term value creation. Backed by permanent capital, Inspirit takes a long-term approach to building durable businesses.
ABOUT CANDLEWOOD PARTNERS
Candlewood Partners is a Cleveland, South Florida and Chicago-based boutique investment bank and advisory firm. Our focus is middle market capital raising, restructuring advisory, lender services, and M&A execution. Since 2001, Candlewood has supported the needs of private businesses, small cap public companies, private equity and independent sponsors, and private credit lenders. We leverage decades of experience to maximize value for our clients, successfully navigating complex engagements across diverse industries and markets worldwide.
Contacts
Glenn Pollack, gcp@candlewoodpartners.com 216.472.6666
Phil Rawson, plr@candlewoodpartners.com 216.472.6643
Hallie Berk, hmb@candlewoodpartners.com 561.928.0665
Candlewood Partners, LLC
Established 2001
