McNally Capital, a Chicago-based private equity firm focused on founder and family-owned businesses, along with Nio Advisors, have made a platform investment in Xcelerate Solutions, a defense and national security company.

McNally’s investment in Xcelerate looks to strengthen the company’s offerings in enterprise security, strategic consulting and digital transformation services while providing its employees with career development opportunities. Xcelerate’s management team will remain in place with senior leaders Mark Drever as CEO, Daniel Olmes as president and chief operating officer and Marlene Harold as chief growth officer.

“Xcelerate is focused on growing to a $500M firm in the next 3-7 years and will continue to add personnel and capabilities to ensure we are ready for the exponential growth to come,” states Drever, CEO and founding partner of Xcelerate. “This partnership with McNally Capital and Nio Advisors aligns perfectly for our firm, particularly given their significant national security expertise.

KippsDeSanto acted as financial advisor and PilieroMazza and McDonald Hopkins acted as legal counsel to Xcelerate Solutions. Ropes & Gray LLP served as legal counsel to McNally Capital.