McNally Capital Takes Majority Stake in TENICA, Keeping Its Leadership Intact

McNally Capital has acquired a majority interest in TENICA Global Solutions, pairing an 18-year-old national security services company with a private equity firm focused on aerospace, defense, national security and industrial technology. The investment was announced on August 3, 2026.

TENICA, based in Chantilly, Virginia, provides integrated engineering, mission operations, cybersecurity and digital modernization services to the U.S. Intelligence Community, the Department of War and other federal customers. Its capabilities span IT engineering and architecture, cloud and enterprise IT, cyber defense, digital modernization, mission resilience, program management and acquisition support — work the company positions as connected requirements inside federal missions rather than discrete technology offerings.

McNally and TENICA did not disclose the investment amount, valuation, financing structure or exact ownership percentage beyond confirming that McNally acquired a majority interest. Founder Terry L. Scherling launched the company in 2008.

Leadership stays put. Nicholas P. Scherling remains president and CEO, and Wesley K. Kaplow remains CTO. Scherling brings more than 20 years of technology experience across the Intelligence Community, the Department of War and industry; Kaplow brings more than 20 years of telecommunications and network expertise. The broader leadership team combines experience across space systems, intelligence programs, cybersecurity, digital services and federal operations.

The transaction drew a full bench of advisers, reflecting the mechanics of a government-services deal in which ownership changes must coexist with customer obligations, cleared personnel, contract requirements and continuity of execution. Nio Advisors partnered with McNally on the investment, while Ropes & Gray and Venable advised McNally on legal and government contracting matters. The McLean Group served as TENICA's financial advisor, and PilieroMazza provided legal counsel to the company.

McNally's investment approach centers on thesis-driven majority investments in founder-, family- and management-led lower-middle-market businesses across aerospace and defense, national security government services and industrial technology. TENICA sits inside that thesis. McNally also brings Atlas, its proprietary value-creation operating system.

The two companies identified four priorities: accelerate growth, broaden TENICA's capabilities, continue investing in its workforce and pursue strategic opportunities. Neither company provided a quantified revenue target, hiring goal, acquisition timetable, product roadmap, new office plan or capital allocation schedule.

The deal reflects broader private equity interest in companies connecting national security missions with modern technical infrastructure. Agencies need secure cloud environments, resilient communications, cyber defense, data architecture, digital engineering and program execution — demand that is strategic but operationally unforgiving. That combination changes the investment lens: value depends not only on technology ownership but on whether a contractor can recruit specialized talent, navigate sensitive mission environments and keep complex federal programs moving without sacrificing security or reliability.