We acquire lower middle market federal government contractors — principally Aerospace & Defense — with the sector expertise to understand what makes them valuable, the capital structure to fund their growth, and a genuine commitment to the teams that built them.
We seek businesses serving the federal government or its supply chain. Aerospace & Defense is our core. Direct government contracts are not required — companies supplying defense primes and adjacent federal markets are equally of interest.
Prime and sub-contractors, component manufacturers, MRO, precision manufacturers, and technical services companies supporting DoD and the defense industrial base — including businesses supplying defense primes without direct government contracts.
C4ISR, cyber and electronic warfare, SIGINT, software-defined systems, and classified program support for intelligence community.
DOE contractors, nuclear support, clean energy infrastructure, and environmental remediation at federal installations.
DHS, CBP, USCG, and TSA contractors supporting border security, emergency management, and public safety systems.
Federal IT modernization, program management, professional and technical services for civilian and defense agencies.
USDA, DoT, and Army Corps of Engineers contractors in agricultural services, rural infrastructure, and water systems.
Elephant Panda Holdings is a specialized acquisition firm focused exclusively on lower middle market federal government contractors. We bring deep sector expertise, a growth-oriented capital structure, and a hands-on operational approach to every acquisition.
Founded by Bradford Powell, who brings nearly 25 years of aerospace and defense experience, EPH understands the unique challenges of cleared programs, government contracting, and the A&D supply chain. We combine operational expertise with the right capital structure to help portfolio companies accelerate growth, win larger programs, and retain the teams that make them successful.
We understand what it takes to build a federal contracting business — the cleared programs, the customer relationships, the team. When you sell to EPH, you're partnering with a buyer who knows your market, has the capital structure to grow what you built, and will treat your employees right.
We make acquisition decisions based on what's right for the business, not on an artificial investor timeline.
No workforce restructuring for financial engineering. Your team is the business — we invest in them.
Your contract vehicles, customer relationships, and past performance transfer intact. We understand cleared programs.
Earnouts, rollover equity, consulting arrangements — structured around your financial and personal goals.
Offers based on realistic EBITDA multiples and achievable growth. No bait-and-switch on price after LOI.
Deep familiarity with CMMC, ITAR/EAR, security clearances, FAR/DFARS, and government contracting compliance.
No investment committee. No fund-cycle pressure. No waiting on partners to align. When you bring us a company that fits our criteria, you'll have our response within 48 hours and an LOI within 30 days of a first call.
All information held in strict confidence. NDA executed on request.
We're always ready to evaluate new opportunities in the federal contractor space.