Trive-Backed Forward Slope Acquires Soar Technology

SAN DIEGO and DALLAS, Aug. 24, 2023 /PRNewswire/ -- Soar Technology, Inc. ("SoarTech") has partnered with Forward Slope Incorporated ("Forward Slope" or "FSI"), backed by Trive Capital ("Trive"), the Dallas-based private equity firm. The addition of SoarTech represents another acquisition that expands the platform's core competencies and customer base in a strategic way to deliver more comprehensive solutions to marquee defense and national security customers. The SoarTech team invested alongside Trive and will continue to serve as senior leaders of the platform.

SoarTech is a leading provider of advanced artificial intelligence solutions to address complex Department of Defense mission requirements. SoarTech's AI solutions act as a force multiplier to enable quicker, better decisions and simplify human-machine interaction. By leveraging machine learning technologies built on computational cognitive designs, SoarTech creates autonomous agents to analyze large amounts of data and assist in human decision-making.  

"Through our 15-year history of partnering with Forward Slope to solve customer challenges, we have developed a deep understanding and appreciation of their complementary expertise in developing software solutions. The combined set of capabilities, talented teams and cultural alignment gave us conviction that a partnership with Forward Slope was an ideal next chapter for SoarTech. We believe that joining forces with Forward Slope will accelerate opportunities for SoarTech and allow us to solve complex DOD challenges in an agile way," commented Mike van Lent, Chief Executive Officer of SoarTech.

"This partnership represents another significant milestone for Forward Slope," said Carlos Persichetti, Chief Executive Officer of Forward Slope. "SoarTech's unique expertise in AI and ML technologies will enable the combined platform to offer more integrated solutions that support critical DOD initiatives."        

David Stinnett, Partner at Trive Capital, commented, "SoarTech has an excellent reputation as a differentiated solutions provider, talented team and unique market position in next-generation AI/ML technologies. As we continue to invest into the Forward Slope platform, we are thrilled to partner with SoarTech to add artificial intelligence capabilities that support and enable tactical decision making in an increasingly complex defense environment."

KippsDeSanto & Co. acted as financial advisor and Pillsbury Winthrop Shaw Pittman LLP acted as legal counsel to SoarTech. Haynes & Boone LLP served as legal counsel to Trive Capital and Forward Slope.

About Forward Slope
Forward Slope is a technology services company providing software and surveillance solutions to the defense industry. With a dedicated team of software engineers, technologists and data architecture experts, Forward Slope is committed to solving complex challenges for its customers.

About Trive Capital
Trive Capital is a Dallas, Texas based private equity firm with more than $4 billion of regulatory assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.

The Trive team is comprised of seasoned investment professionals who have been involved in over 100 middle-market transactions representing in excess of $6 billion in revenue across Trive's targeted industry sectors and situations.

SOURCE Trive Capital