Renovus Expands Government-Focused IT Consulting Platform

Aretum, a portfolio company of Renovus Capital Partners, has acquired Veterans Engineering, a provider of technology services to federal agencies.

Aretum was formed in 2023 by Renovus when it combined two of its portfolio companies, Panum Telecom and Miracle Systems, to create a government contracting platform. Panum had focused on project and acquisition management, business consulting, and IT infrastructure work for federal clients. Miracle Systems added experience in managing program offices, delivering engineering support, and supporting IT and cybersecurity operations. In August 2023, the company added-on again with the buy of Artemis Consulting, a McLean, Virginia–based IT consulting firm specializing in software development and cloud modernization for federal agencies.

Veterans Engineering provides information technology modernization and engineering services to the federal government. The company’s core activities include cloud architecture design, cybersecurity implementation, and healthcare technology integration.

For example, the firm architects secure cloud environments for the Department of Veterans Affairs, allowing the agency to modernize patient record systems while maintaining strict compliance with federal data standards. Other past and present customers of the company include the US Departments of State, Homeland Security, and Energy; US Army Corps of Engineers; and the states of Maryland and Idaho. Veterans Engineering was founded in 2005 and is headquartered in Rockville, Maryland.

“This acquisition represents a strategic leap forward in our ability to support critical federal missions,” said Rohit Gupta, the chief executive officer at Aretum. “Veterans Engineering’s technical strength, track record in complex modernization programs, and commitment to mission outcomes are an ideal complement to Aretum’s capabilities.”

According to Deltek, the federal information technology market is forecast to grow from $131 billion in fiscal year 2024 to $156 billion by fiscal year 2028. This growth is largely driven by government-wide initiatives to upgrade legacy infrastructure and enhance cybersecurity defenses across civilian and defense agencies.

“Veterans Engineering has built a mission-driven organization grounded in service, technical excellence, and delivery quality,” said Manan Shah, a partner at Renovus. “The combined platform strengthens Aretum’s position across federal technology programs and creates a compelling foundation for continued growth — both organically and through future strategic acquisitions.”

Renovus invests in companies active in the education, healthcare services, technology services, and professional services sectors with at least $3 million of EBITDA and enterprise valuations of $10 million to $200 million. In October 2024, Renovus held an oversubscribed and above-target closing of its fourth private equity fund, Renovus Capital Partners IV Core Buyout LP and parallel vehicles, with $875 million of capital. Renovus was founded in 2010 and is based in the Philadelphia suburb of Wayne, Pennsylvania.