GovCon M&A Talk

Aerospace & Defense Trends: Joseph Dalton

Sharon Heaton talks with Joseph Dalton of Arsenal Enterprise Capital about what’s new with aerospace and defense. A successful veteran who grew a company and sold it he says GovCon isn’t going away. Today Arsenal invests in public and private lower middle market companies that offer the government new capacities to defend against evolving threats. 
Topics covered: 
Bidding for and winning full and open work
Really listening to the customer and solving actual problems
Why getting on the right vehicles matters
Selling an SDVOSB company while maintaining confidentiality
C5ISR systems and sensors, AI, cyber warfare, and augmented and virtual reality -- the high value, critical competencies strategic buyers like
To connect with Joseph, visit his LinkedIn page here.Learn more about Arsenal Enterprise Capital by visiting their website here.
To connect with Sharon Heaton, visit her LinkedIn page here.To follow and learn more about sbLiftOff, check them out here.
If you liked listening to this episode, view our GovCon M&A page here. To view all of our podcast series, visit our podcast page.

Scare The Bear: Matt Dean

Sharon Heaton talks with investor Matt Dean, the founder of Scare the Bear (STB) Capital, who is focused on non-controlling investments in lower middle market GovCon businesses. Hear what Matt thinks buyers are thinking about today’s churning GovCon M&A market.
Topics covered: 
What private equity knows and doesn’t know
Smart capital on steroids – the PE mindset
The “founder mentality” and reality
What minority investments offer owners
DOGE risks and structuring deals
To connect with Matt, visit his LinkedIn page here.Learn more about Scare the Bear by visiting their website here.
To connect with Sharon Heaton, visit her LinkedIn page here.To follow and learn more about sbLiftOff, check them out here.
If you liked listening to this episode, view our GovCon M&A page here. To view all of our podcast series, visit our podcast page.

Chaos Creates Opportunity: Joe Humphries

Sharon Heaton talks with legendary banker Joe Humphries of Atlantic Union, who brings decades of experience in GovCon M&A. Joe gives advice to sellers about planning and provides perspective on how today’s changes, from DOGE cuts to agency configurations, fit into a history of ever evolving federal procurement appetites. Hear what Joe has to say about what banks see as good M&A opportunities today, including “the benefit of chaos.” 
Topics covered:
How procurement is changing at DOD
Why there will be more sub contracting opportunities
What drives today’s bankers when they consider a GovCon M&A deal
Advice to GovCon sellers about smart planning
How chaos can create a buying opportunity

Doing Good By Doing Well: Shaunna Balady

Sharon Heaton talks with M&A advisor and software expert Shaunna Balady – a woman who has completed over 100  transactions totaling over $20 billion in enterprise value across 5 continents. Shaunna also helped grow and recently sell a GovCon software services firm. She donates most of her earnings to favorite charities, doing good by doing well. Hear what this amazing software and SaaS expert has to say about the future of GovCon M&A.
 
Topics covered:
 
DOGE how government acquisition of software is changing; SecDevOp vs COTS
Why is the government making this pivot?
What makes a software company sellable?  
What are large strategic buyers seeking when they look for smaller software companies as targets?

Veterans Mean Business: Bob Eisiminger

Sharon Heaton talks with GovCon leader Bob Eisminger who founded Knight Point Systems and sold it for an impressive sum. A graduate of West Point, Bob used his knowledge of the military to grow his GovCon company. Realizing that as a VAR, Knight Point systems wouldn’t be worth more than a low multiple of profits, Bob pivoted. As a managed services provider with a $1.2 billion backlog on its books, the company looked very different. Hear what this successful veteran entrepreneur says about the journey from business idea to growth through sale:
Topics covered:
Ingredients to growth – why people matter
Business pivots and strategic decisions 
Focusing on customers you know and can serve well
When it's time for a sale
Getting through the sale process

Inorganic Growth is No Secret with Gautam Ijoor

A serial entrepreneur since his boyhood in India, Gautam Ijoor founded AlphaOmega in 2016. An agile supplier of DevSecOps, cloud engineering and cybersecurity solutions, the company has grown 40% year after year. In 2020 Gautam decided to bolt on a robotics firm, Confiance Group.  This January, 2025, he closed two new acquisitions on the same day. Hear what a successful tech entrepreneur says about smart buys in the GovCon sector.
Topics covered:
Inorganic growth - your company plan
Looking for the right match in M&A
What the government needs now from technology
Buying for strategy not revenue
Happy integrations post close
Learn more about OrangeSlices AI here.

Finding Unicorns: Cos DiMaggio M&A Journey

Winning at GovCon M&A requires providing unique value to government agencies. Cos DiMaggio, a successful serial entrepreneur, shares his tips on science, technology and disruption. Cos founded The Tauri Group with two colleagues and focused on critical areas of homeland security, national defense, resilience, and rapid capability development. Cos’s growth strategy? Compressing the distance between developers and users. Tauri was acquired by LMI. Hear what a successful tech entrepreneur says about his M&A journey:
Topics covered:
Unicorns—finding visionary scientists, engineers, acquisition specialists, and former operators
How solving threat challenges advances your GovCon
What strategic buyers look for
Deciding when and whether to sell
GovCon today – what’s still true
Learn more about OrangeSlices AI here.

SBA Reg Shakeups: Brad Reeves of Reeves GovCon Group

SBA regs dropped last December are still roiling the set-aside GovCon market. Some experts disagree on the regulation's impact with most already in effect and certain M&A provisions set to take effect on January 17, 2026. Hear the experts decode the debate.
 
Topics covered:
 
Overview of new rules – defining a disqualifying recertification and discussion of impact
Differences in treatment for single-award and multiple-award contracts
Discussion of GSA schedule as a multiple award vehicle and immediate implementation
How M&A for set-aside companies will be affected
Small buying small opportunities
Whether task orders will be transferable
Benefits of selling  a set-aside company prior to Jan. 17, 2026
Learn more about OrangeSlices AI here.

Buyer's Eyes: David Troung of PSI on M&A

Deal value is in the eye of the beholder. What are large companies looking for when they eye small GovCon for acquisition? David Troung of PSI shares his experience on what he as a larger entity looks for when he shops for acquisitions of set-aside companies.
Learn more about OrangeSlices AI here.

M&A to Retirement: Merry Korn's Successful Journey

In Episode 3 Sharon interviews Merry Korn, a GovCon owner who started her Ohio company after she was fired from a job. After years of growth it was time to hand off the baton. Merry shares the ups and downs of her recent sale process and the secrets to a successful GovCon M&A transaction.