Monday, February 11, 2013
Scale Finance Closes $12M Capital Raise for Culmen International, LLC
CED Mentor Partner Scale Finance today closed a deal with Culmen International, LLC, which assists the U.S. government with the execution of complex international security initiatives and the management and facilitation of advanced contracts and programs between domestic and foreign government agencies.
With the financial advisory support of Scale Finance LLC, Culmen has closed a $12.0 million institutional growth capital transaction through Fulton Bank, the lead banking subsidiary of Fulton Financial Corporation.
The money will be used to support growth and the company's international procurement, legacy and business lines, the company said in a statement.
In 2012, Culmen realized a good win rate in U.S. government contracts for international procurement and logistics, along with continued growth in legacy businesses. Under these new contracts, Culmen provides overseas procurement of complex systems on behalf of U.S. government agencies.
Founded in 2004, Culmen is a mid-size government contractor based in Alexandria, VA, with branch offices in the Czech Republic and Romania, and personnel in Germany, Russia, Ukraine, Azerbaijan and Kazakhstan.
Scale Finance LLC is located in the Research Triangle region of North Carolina (Raleigh, Durham, and Chapel Hill), with office locations in Charlotte, NC, the Triad region of North Carolina, Washington, DC, Florida and Tennessee.