Chart National L.P.

Partnering with Leading Middle Market Firms

Serving the Defense, Security & Intelligence Sector

The Sector is the conduit for government innovation through necessity. Great technologies such as the internet, GPS, and Rapid DNA have come about because of Sector needs. In times of national stress, the Sector is where the United States looks to solve problems. This makes it a safe, innovative and productive investment field. Understanding the many facets of what results in successful services and products is Chart National's specialty.

About Us

Chart National is a private investment fund with an investment focus on companies that are emerging leaders serving the defense, intelligence, security and related markets (the "Sector") through management buyouts, recapitalizations and in limited cases, structured growth equity transactions.

Chart National’s strategy is to identify companies and management teams where we can partner to drive value through relationships and access and deliver operational improvement through active board-level involvement. Chart has over ten years of dedicated experience in the Sector, making it among the most established, experienced private equity firms focused in this target market.

Investment Profile

Chart National seeks to make control equity investments in lower middle market companies in the Defense, Security and Intelligence sector, focused on priority/high-growth budget areas, driving value primarily through organic growth but augmented by targeted acquisition growth when appropriate.

Our targeted portfolio companies exhibit most, if not all, of the following attributes:

Identifiable and differentiated intellectual property, developed either independently or with customer funding, with the potential to command commercial pricing within the Sector or other markets

Talented and creative management teams, dedicated to providing innovative solutions in service to the Sector and its mission

Strong customer relationships, demonstrated by long term Sector contracts, with visibility into projected revenue through contract backlog and identified new customers

Demonstrated Record of Performance, with at least $2 million in EBITDA

History of high margin cash flow generation

Defensible, niche positions within high priority, high growth budget areas within the Sector

Chart and SFI Financial saw the potential of EOTech early on and worked together to improve the product and then get it sold to Units rotating into the theater. It was gratifying to work with a group that clearly understood how government works and, more importantly, defense. Bud Evans, former Board Chairman of EOTech, Inc.

Portfolio Companies

Sequoia

Sequoia

Sequoia Solutions is a leading provider of high-end mission oriented professional services to the US Intelligence Community and Department of Defense. Sequoia also offers Combine, an emulation software tool for air-gapped clouds including Microsoft Azure and AWS Government / Secret / Top Secret.

SNA International

SNA International

SNA International provides forensics, biometrics, and identity intelligence to the Department of Defense, Department of Homeland Security and other federal agencies, state and local governments, private industry and international organizations.

I partnered with Chart because the firm understands the challenges of working in the national security space. Chart provided our management team with precisely what it needed to fuel our next phase of growth. During our partnership we were able to jointly craft a strategy that transformed a struggling business and provided an exit at a significant increase in value. Jamie Benoit, former CEO of FedData

Our Team

Christopher D. Brady

PARTNER

Christopher D. Brady co-founded Chart National in 2018. Chris spent fourteen years in the corporate finance and capital markets departments of Lehman Brothers and Dillon Read. Thereafter, he was a founding member of The Chart Group, formed in 1995. With over 30 years’ experience in private equity, corporate finance and capital markets, Chris focuses on identifying and building defense and intelligence portfolio companies.

Chris has been actively involved channeling the resources of the business community to assist with defense, security and intelligence initiatives. Projects include a leadership role with Warfighter Sports/DSUSA, a foundation dedicated to working with injured soldiers; and serving as a member of the Transition Team for the US Army Secretary Dr. Francis Harvey. He has served in senior management positions in numerous New Jersey political campaigns, including Millicent Fenwick (1978), Christine Whitman (1991) and George H.W. Bush (1992).

Chris currently serves as a director of Miami International Holdings, and several other Chart investments and affiliates, including Chart Capital Partners II, LP, where he retains an advisory role pending dissolution of the fund. Chris earned his B.A. from Middlebury College and his M.B.A. from Columbia University Graduate School of Business.



Khaled Elmarsafy

PARTNER

Khaled (Kal) Elmarsafy is a Partner and Investment committee member at Chart National, L.P. responsible for investment process, due diligence, post-acquisition and fund operations. He helps manage the growth of portfolio companies through relationships within the Sector.

Kal has more than 25 years’ experience in U.S. and International Private Equity, having led and managed transactions aggregating more than $500mm invested capital. His role in Private Equity has been sourcing private opportunities; structuring the investments terms and closing investment process. Kal has also managed the growth of the portfolio companies through his various roles as an operating partner and board member. Prior to Chart National, L.P. Kal worked at Univest Group, a PE investment Advisory company based in Kuwait; Al-Deera Holding, a publicly traded investment company in Kuwait; Fletcher Asset Management, a hedge fund in NYC and UBS in New York.

Kal is a member of ABANA in New York and sits on the board of several companies including Miami International Holdings (US) and Abwab Capital (UAE). Kal graduated from University of Hartford with a Bachelors’ Degree in Business and International Finance.



R. Lee Priest

PARTNER

R. Lee Priest, Jr. is a partner with Chart national, L.P., having joined in 2018 after a 28-year career focused exclusively in the targeted Sector. He focuses on identification of prospective Sector portfolio companies, transaction execution and accounting / financial oversight of portfolio companies.

Lee has extensive industry investment banking experience having advised on over 50 transactions representing over $5 billion in transaction value. Industry experience includes transactions for clients in the following sectors: Satellite Communications, Signals Intelligence, Commercial Aerospace, Defense Electronics, Intelligence Community, Transportation, Homeland Security, Government Services and Communications.

Over a 20-year investment banking career, Lee has advised on some of the more complex middle market transactions, to include ”going private” transactions, takeover defense and taking clients public through Special Purpose Acquisition Corporation (SPAC) transactions. Other transactions include sell side and buy side M&A, Lead and sole managed IPOs and follow on offerings. He has advised many leading industry participants, having represented clients in transactions with buyers such as Boeing, TPG, Veritas Capital, ManTech International, QinetiQ PLC, Arlington Capital, Chart Capital, SRA International and DC Capital, among others.

In addition to his investment banking career, Lee served eight years active duty as a commissioned officer and naval aviator in the U.S Navy and also served two years as a public company CFO. He holds an Aerospace Engineering degree from the U.S. Naval Academy and an MBA from the University of Maryland.



Joseph J. Boyle

VICE PRESIDENT

Joseph J. Boyle is a Vice President and Chief Compliance Officer at Chart National. He was previously Vice President at Chart Group Advisors, the investment banking division of The Chart Group L.P. Joe was involved in every stage of private placements and mergers & acquisitions including creating integrated financial models, authoring information memorandum, determining capital structure and liquidity events across multiple industries including transportation, defense, energy and financial products.

Previously, Joe worked for Univest Group, a partner of The Chart Group in Dubai. His primary responsibility was to evaluate cash flow potential for new investments in real estate projects. Joe began his career at UBS as a Trade Management Specialist for derivatives in Stamford, Connecticut.

Joe graduated from the University of Illinois at Chicago with a Bachelor of Science in Business Management.



Deirdre E. Kilmartin

OPERATIONS MANAGER

Deirdre E. Kilmartin is Operations Manager at Chart National. She is responsible for overseeing administrative activities, IT, and daily operations of the office.

Prior to joining The Chart Group, L.P. in 2004, Deirdre was an agent at Wilhelmina Models. She earned her B.A. in Communications from Central Connecticut State University and received her M.S. in Real Estate Development from New York University.



Margaret E. Saracco

CONTROLLER

Margaret E. Saracco is Controller for Chart National where she handles accounting functions to support the preparation of tax and audit documents for investors. Other responsibilities include payroll processing, human resource compliance and vendor relations.

Margaret has worked at The Chart Group for 24 years and has served in the roles of executive assistant, bookkeeper, accounts payable and investor relations. Prior to working at Chart, she was in the not-for-profit fundraising field for 7 years.

Margaret earned a B.A. in Economics from Oklahoma State University and a Master’s in Regional and City Planning from the University of Oklahoma.



Helen Fletcher

EXECUTIVE ASSISTANT

Helen Fletcher is Executive Assistant at Chart National. She is responsible for administrative activities for the group, including Board minute taking.

Helen has over 30 years experience within the field of administration and human resources. She graduated from Dublin College of Business Studies and has a degree with the London Institute of Personnel Management.



Nick (Soo Sung) Kim

ASSOCIATE

Nick (Soo Sung) Kim is an Associate at Chart National where he supports due diligence efforts, fund operations, sector research and financial analysis in evaluating potential transactions.

Nick previously worked at Ernst & Young FSO Advisory in South Korea after completing his military service in the ROKA Capital Defense Command as part of the Military Police. At EY, he was focused on advising companies in the insurance industry on adapting to technological advancements in the market.

Nick earned his B.S. in Business, with concentrations in Finance and Data Science, from New York University Stern School of Business.

As founder and CEO of NAR, it was great to have a PE firm that understood the DoD and government in general. As an investor in NAR, Chart was a useful ally as we grew our business globally. Rapid growth, due to world events, led to tough management decisions and Chart was firmly in management's corner. Bob Castellani, CEO and Founder of North American Rescue (NAR)

Advisory Board

Joseph Robert Wright, Jr.

CHAIRMAN

Joe currently serves as Executive Chairman of Sequoia, Chairman of SNA and Chairman of Altamira Technologies. He is also Executive Partner/Consultant to Comvest Partners, Chairman of the Investment Committees of Surry Capital, LLC, ClearSky Power and Technology Fund, LLC, and ClearSky Security Fund. Joe joined Chart National in 2018 as Chairman of the Advisory Board.

Joe was Executive Chairman of Federal Data Systems; Chairman of Intelsat; CEO of PanAmSat; Chairman of GRC International; Executive Chairman of MTN Satellite Communications; CEO of Scientific Games; Co-Chairman of Baker & Taylor; EVP, Vice Chairman and Director of W. R. Grace, Chairman of Grace Energy Company and President of Grace Environmental Company; Senior Advisor to Providence Equity; Vice Chairman of Terremark; President of two Citibank subsidiaries; Vice President and Partner of Booz, Allen and Hamilton; in addition to executive positions in several other companies.

Joe is also on the Board of Systems Control, and is a member of the Council of Chief Executives, Council on Foreign Relations, Economic Club of New York, Committee for a Responsible Federal Budget and Oklahoma Medical Research Foundation (OMRF). He previously served as a Director of The Cowen Group, EBIX, Priority Holdings, Travelers, Terremark Worldwide, Harcourt Brace Janovich, Kroll, Titan, Proxim, Federal Signal, Education Management Corporation (EDMC), Hampton University, AT&T Government Markets and others.

Joe served in the U.S. Government under President Reagan as Deputy Secretary of Commerce and Deputy Director/Director of the Federal Office of Management and Budget (OMB), and was a member of the President's Cabinet. In addition, he held various management and economic positions in the Federal Departments of Defense, Commerce and Agriculture under three other Presidents: Nixon, Ford and Kennedy. Joe received the Distinguished Citizens Award, and was appointed to the President’s Export Council by President Reagan and continued under President H.W. Bush as Chairman of the Export Control Sub-Committee. He was also appointed to the President’s Commission on U.S. Postal Service Reform and the National Security Telecommunications Advisory Committee (NSTAC), the Federal Communications Commission’s Network Reliability and Interoperability Council and several other advisory boards by President W. Bush. He also served on the Defense Business Board under three Presidents, including the present Administration. Joe has an active Top Secret clearance with the U.S. Government.

Joe received his undergraduate degree from the Colorado School of Mines and his graduate degree from Yale University.



Admiral Timothy J. Keating

BOARD MEMBER

Admiral Keating retired in December 2009 after serving for three years as the Commander, United States Pacific Command, headquartered in Honolulu, Hawaii. His area of responsibility included over 3.4 billion people and half the surface of the earth. While in command, Admiral Keating visited over 30 countries, meeting diplomats, military officials and commercial leaders to emphasize active engagement with national and international partners in preserving the security and stability upon which the Asia-Pacific region’s success depends.

Prior to his tour at Pacific Command, Admiral Keating was Commander of the United States Northern Command, responsible for protecting the United States homeland and providing support to federal, state and local officials in time of crisis. Simultaneously, he was Commander of the North American Aerospace Defense Command, providing aerospace warning, air sovereignty and defense for the United States and Canada.

Previous tours include service as the Director of the Joint Staff in the Pentagon, command of the United States Fifth Fleet and all naval forces in the United States Central Command headquartered in the Kingdom of Bahrain, Deputy Chief of Naval Operations (Plans, Policy and Operations) in the Pentagon, command of the USS Kitty Hawk Battle Group stationed in Yokosuka Japan, and Deputy Director for Operations (Current Operations) on the Joint Staff in the Pentagon.

Admiral Keating held command positions at the Naval Strike Warfare Center, a Carrier Air Wing and an F-19 Squadron. Admiral Keating is a 1971 graduate of the United States Naval Academy and was a Chief of Naval Operations Fellow with the Strategic Studies Group in Newport Rhode Island. He has accumulated over 5,000 hours of flight time in tactical jets and has landed on Navy aircraft carriers over 1,200 times. In addition to numerous awards from the United States, he has received military decorations from Great Britain, Bahrain, Canada, Japan, the Republic of Korea, the Philippines, Taiwan, and Singapore. He is a proud honorary Master Chief Petty Officer in the United States Navy.



John M. B. O'Connor

BOARD MEMBER

John O’Connor, 63, is Chairman & CEO of J.H. Whitney Investment Management, LLC. , a position he has held since January 2005. Previously, Mr. O’Connor was Chairman of JP Morgan Alternative Asset Management, an Executive Partner of JP Morgan Partners, and a member of the Risk Management Committee of JP Morgan Chase. Mr. O’Connor is also CEO of Whitney Strategic Services which provides analytic and advisory support to Government and Corporate clients on geostrategic and global economic matters.

Mr. O’Connor serves on the Board of Directors, Audit Committee and Corporate Governance Committee of Olin Corporation, since January 2006 (NYSE: OLN) and is a designated financial expert. Mr. O’Connor is a member of the Board of Directors at Integrico, Inc. (a privately held specialized composite products manufacturer) and is also on the Advisory Board of Global Guardian LLC, an International Security Firm.

Mr. O’Connor serves as a Civilian Aide to the Secretary of the Army (CASA) for New York (South), a position to which he was appointed in September 2014. Mr. O’Connor serves as a member of the Department of Defense Business Board to which he was appointed in 2015. He is a member emeritus of the Air Force Chief of Staff Civilian Leaders Board. He previously served as a member of the Senior Advisors Panel of both the United States European Command and the United States Southern Command. He also serves on the advisory boards of the New York Green Bank, and the Grayson-Jockey Club Research Foundation. He is also Chairman of the American Friends of the Clock Tower Fund (a not-for-profit organization that supports active duty UK Special Forces regiment members and their families).

Mr. O’Connor earned a bachelor’s degree in economics from Tulane University and a master’s in business administration degree from Columbia University Graduate School of Business. He is a recipient of the Secretary of the Air Force Distinguished Public Service Award.



Kenneth R. Reynolds

BOARD MEMBER

Ken earned his B.A. Degree in Business Administration from Wittenberg University in 1980. Following graduation he worked for Dennis & Schisler, Certified Public Accountants, and later became a partner in the firm, managing the audit practice.

n 1997, Ken was named Chief Financial Officer of Ariel Corporation. Founded in 1966, Ariel Corporation designs and manufactures a wide variety of compressors for a diverse global market. Nearly 60,000 Ariel compressors are in service worldwide in refineries, gas fields, pipeline service and gas gathering. Ariel’s world standard gas compressors, outstanding service and exceptional customer support have made it the world leader in gas compression. Ken continues to serve as a board member of Ariel Corporation.

Ken is a member of a number of trade organizations including the American Institute of Certified Public Accountants and the Ohio Society of Certified Public Accountants. Past business and community affiliations include service on the board of Black Horse LLC (Black Horse is a Houston-based joint venture between Caterpillar Inc. and Ariel Corporation), Knox Community Hospital, Knox County Board of Elections, United Way allocation committee and the Knox County Public Defender Commission.

Currently Ken serves as a board member of the Gorman-Rupp Company. Gorman-Rupp is headquartered in Mansfield, Ohio and manufactures pumps and pump systems. Ken is an avid golfer and resides in Mount Vernon with his wife, Jan. They have three adult children.

I have had the great pleasure working with Chart in several capacities in my position as CEO of Maritime Telecommunications Company (MTN). Chart was instrumental in MTN winning the auction of its targeted acquisition and raising the necessary funds, including Chart directly investing funds into the company. After the successful completion of the transaction, Mr. Brady agreed to continue to advise the company in the capacity of a director on our Board. His contributions and guidance helped the company realize substantial growth and diversification. His connections within and understanding of the U.S. Department of Defense quickly helped the company to transform its customer base from maritime only to one that was deeply integrated into the U.S. military and intelligence branches. Bill Marks, former CEO of Maritime Telecommunications Company (MTN)

Contact Us

New York Office

Chart National L.P.
555 Fifth Avenue
19th Floor
New York, NY 10017

(212) 350-8200
info@chartnational.com

Greenwich Office

Chart National L.P.
34 East Putnam Avenue
Office 115
Greenwich, CT 06830

(203) 422-3900
info@chartnational.com