FVLCRUM Funds Announces Acquisition of Fidelity Technology Services

BETHESDA, Md.--(BUSINESS WIRE)--Oct 5, 2026--

FVLCRUM Funds is pleased to announce the acquisition of Fidelity Technology Services (FTS), a leading provider of military simulation training systems and services to the U.S. Department of War (DoW) and allied nations. FTS will join FVLCRUM’s portfolio of IT, Simulation, Services, and Training providers, which includes Advanced IT Concepts (Advanced IT), as a part of its Project Maverick strategy. Together, these companies will deliver a full spectrum of mission-critical solutions to the DoW and its allies.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261004074512/en/

Founded in 1987 and headquartered in Reading, Pennsylvania, Fidelity Technology Services provides advanced training and simulation services for the U.S. Navy, U.S. Air Force, and allied defense partners worldwide. The company has a long history of delivering simulation training systems and field support services for key DoW programs, earning it a reputation as a market leader.

Advanced IT, a FVLCRUM portfolio company, provides IT infrastructure integration, cybersecurity, simulation services, and other government services to DoW and allied foreign nations. Together, the combined Company forms a comprehensive flight simulation and training platform with capabilities spanning all branches of the U.S. military.

Advanced IT and FTS will operate as independent business entities for contracting purposes and will roll up under the FVLCRUM Maverick Acquisition Company. This structure will enable the businesses to collaborate on opportunities and leverage each other's strengths. The Maverick strategy will be led by Juan Navarro.

“I am pleased to welcome FTS, a recognized leader in simulation and training, to the FVLCRUM fold, where it will bring a full array of industry-leading solutions that complement Advanced IT’s IT and simulation offerings,” said Juan Navarro, CEO of Maverick.

The combined strategy will unlock immediate synergies through complementary capabilities, expanded service offerings, and enhanced opportunities to serve customers throughout the defense community.

“This acquisition reflects FVLCRUM's commitment to serving the readiness of U.S. military personnel through partnerships with strong management teams and investments in businesses that provide essential services, create economic opportunity, and generate long-term value,” added FVLCRUM partner Andre Castillo.

ABOUT FVLCRUM:

FVLCRUM Funds is a growth-driven private equity firm investing in lower middle-market companies that provide mission-critical services to large enterprises and governments. Since 2013, the team has applied a capital markets approach to addressing the U.S. wealth gap, aligning investment performance with meaningful societal impact. For more information, please visit www.fvlcrum.com.

ABOUT ADVANCED IT CONCEPTS (Advanced IT):

Advanced IT Concepts (Advanced IT) is a leading provider of end-to-end technology solutions and services, specializing in systems integration, professional services and training support. Dedicated to enabling mission success, Advanced IT partners with defense and federal agencies to deliver innovative, reliable, and forward-thinking solutions. For more information, visit www.aitc-llc.com.

FVLCRUM Funds acquires Fidelity Technology Services, expanding its Project Maverick portfolio alongside Advanced IT Concepts to deliver a full spectrum of mission-critical IT, simulation and training solutions to the U.S. Department of War and its allies.

Russian authorities have quarantined a hospital and are monitoring contacts of an employee at a plague research institute in Siberia who contracted pneumonia of an “unknown” cause. Local state TV said the woman died last week.

Russian authorities said they found no evidence that her illness was caused by any of the pathogens she worked with. But the case has raised alarm in Russia after unconfirmed media reports suggested she might have died of pneumonic plague — a less common but severe form of plague that can spread from person to person.

The woman worked at the Irkutsk Anti-Plague Research Institute of Siberia and the Far East in Irkutsk, southeastern Siberia. A state TV station in Irkutsk reported Monday that she died last week in a hospital in Shelekhov, a town just outside Irkutsk.

The hospital has been placed under quarantine, Mayor Maxim Modin said Friday, no longer admitting or discharging patients, and its laboratory halted carrying out routine tests. The hospital's outpatient clinic kept operating as usual, he said.

Anna Popova, head of Russia’s public health watchdog, Rospotrebnadzor, flew to Irkutsk and met with Gov. Igor Kobzev and other officials on Friday.

Kobzev said everyone who came into contact with the woman is under medical supervision. He didn’t identify the infection and called it a suspected case of “a particularly dangerous infection.”

Rospotrebnadzor was implementing “a full range of anti-epidemic measures,” he added.

Rospotrebnadzor said Sunday the woman was diagnosed with “pneumonia of unknown etiology,” or origin, and said “extensive” testing found “no microorganisms associated with the patient’s professional activities.”

The agency also said it didn't uncover any incidents at the institute “involving pathogenic microorganisms."

Two people who were in contact with the woman tested positive for a virus that causes a common cold and two others for COVID-19, the agency said, adding that others who were tested were all negative.

U.S. Secretary of State Marco Rubio said Monday he doesn’t think there is cause for alarm, but the U.S. is watching the case closely, aware that “it could spread quickly” despite the quarantine and other public health protocols.

Independent local news outlet Lyudi Baikala quoted sources it did not identify as saying the woman died from pneumonic plague and that several Irkutsk hospitals were placed under quarantine.

Asked Monday to comment on the case, Kremlin spokesman Dmitry Peskov said the public and media should follow official statements from Rospotrebnadzor, rather than "rumors or speculation.”

The Irkutsk Aluminum Plant in Shelekhov required staff to wear masks as a precaution, its director Artyom Fominykh said Saturday on Telegram, calling for calm and adding: "Better be safe than sorry.”

The World Health Organization describes pneumonic plague as a less common but severe form of plague — a disease caused by Yersinia pestis, a bacterium usually found in small mammals and their fleas.

——

AP reporter Matthew Lee in Washington contributed.

This undated photo released by the Irkutsk Anti-Plague Research Institute of Siberia and Far East, shows the institute workers in a lab. (The Irkutsk Anti-Plague Research Institute of Siberia and Far East via AP)