DC Capital Partners Makes Strategic Investment in Leading DMV Modernization Platform AstreaX
Tucson, AZ – May 10, 2024 – DC Capital Partners Management, LP (“DC Capital” or “DCCP”), a sector focused private equity firm that invests in middle market companies in the Government and Engineering sectors, today announced it is making a controlling investment in AstreaX.
AstreaX is a leading provider of software development and implementation services for government modernization technologies, with expertise in digital identity, enterprise systems, and consumer portal solutions for the Department of Motor Vehicles (“DMV”). AstreaX is a primary solutions provider for the Arizona Department of Transportation (“DOT”) and is also supporting the DMV modernization initiatives in Wyoming and Alberta, with active discussions to expand into numerous other states and jurisdictions. AstreaX’s differentiated subject matter expertise and domain knowledge have resulted in multiple sole source awards, and positioned the Company at the forefront of the effort to establish single sign-on super portals across all government agencies that significantly enhances the efficiency and experience of citizens and businesses.
“We are extremely excited to partner with the AstreaX team to provide an expanded offering of IT Modernization Services and Solutions”, said Thomas J. Campbell, Founder and Managing Partner of DC Capital, “This acquisition marks a significant milestone in our journey to drive innovation and efficiency in the public sector, solidifying our position as a leading provider of technology solutions for government entities.”
David Knigge, AstreaX’s CEO said, “DC Capital is uniquely aligned with our passion and growth strategies at this critical inflection point of AstreaX. This is an exciting time for AstreaX as DC Capital brings a significant amount of resources and expertise in the sector, and we look forward to continuing our vision to build a trustworthy partner providing world class services to our customers as a part of the DC Capital family.”
David O. Page, Partner at DC Capital, stated, “We are thrilled to announce the acquisition of AstreaX, a move that symbolizes our commitment to empowering public sector clients with cutting-edge IT modernization solutions. AstreaX is driving critical efforts to modernize citizen-facing systems for State Governments and we look forward to continuing to enhance and broaden the Company’s markets and capabilities to provide the full spectrum of software development and IT services enabling key initiatives across Federal, State and Municipal markets for DMV modernization, identity solutions, licensing, permitting, digitization, IT consulting and systems integration.”
About AstreaX
Founded in 2010, AstreaX is a pioneer in developing and implementing software solutions that facilitate government IT modernization and digital identity tool adoption. The Company was founded with the mission to serve the DMV market challenged with increasingly aging systems and dependency on legacy vendors and outdated IT infrastructure. AstreaX has assisted the State of Arizona in the development of a modern, cloud-based super portal, delivering secure, improved, and expanded online services for the Arizona Motor Vehicle Division (“AzMVD”). AstreaX provides solutions that effectively digitize highly antiquated DMVs, spanning vehicle title & registration to dealer licensing, finance with integrated super portals. Learn more at www.astreax.com.
About DC Capital Partners
DC Capital Partners is a private equity investment firm headquartered in Alexandria, Virginia, focused on making control investments in middle market, U.S.-based, Government Services and Engineering & Consulting Services businesses. Learn more at www.dccp.com.
