Recognizing 20 Military Veterans in M&A

As America celebrates its 250th anniversary, we wanted to take the opportunity to highlight 20 military veterans who have successfully completed transactions through the Axial platform. 

Their service spans multiple branches, generations, and specialties, including leadership positions and assignments in some of the nation’s most demanding units. While their time in the U.S. Armed Forces took many forms, each dedicated a portion of their life to serving our country.

The veterans featured below represent a mix of investors, M&A advisors, and entrepreneurs. Each profile highlights their military service, professional journey, and the Axial transaction that brought them to this list. Together, they reflect diverse experiences united by a shared commitment to service.

We are grateful for the dedication and sacrifice of all the men and women who have served in the United States military, and we’re honored to recognize these veterans and share their stories.

Robert Kirila served as a U.S. Army Special Forces Officer with the 7th Special Forces Group from 1991 to 2017. He later earned a master’s degree in National Security Policy Studies from the U.S. Army War College.

In 2022, Kirila co-founded Black Powder Holdings, an independent sponsor, along with Black Powder Search, which connects veterans from the special operations community with leadership opportunities in corporations, private capital, and founder-owned businesses. 

In October 2023, Black Powder Holdings acquired CCDI, Inc., a nationwide service provider in commercial and residential real estate, construction management, and construction consulting.

Grant Broom served nine years in the U.S. Army, including as Troop Commander of an attack reconnaissance troop responsible for the training and readiness of more than 60 soldiers, eight AH-64D Apache Attack Helicopters, and four Unmanned Aerial Systems. His service included two combat deployments to Afghanistan, and he was awarded the Bronze Star Medal during operations in Northern Afghanistan.

After the military, Broom owned and operated a moving company in New Hampshire before joining SPUR Acquisitions as an Operating Partner. In August 2021, SPUR Acquisitions acquired When Pigs Fly Breads, an artisan bread company with a loyal following and established wholesale distribution across the Northeast. Following the acquisition, Broom assumed the role of CEO.

Jason Shinar served in the U.S. Army from 2009 to 2019, holding leadership roles as a Platoon Leader, Executive Officer, and Company Commander, with deployments to Iraq and Afghanistan. He later served with the U.S. Army Corps of Engineers as Aide-de-Camp to the Deputy Commanding General and Special Assistant to the 54th Chief of Engineers, supporting senior military leadership on strategic initiatives and operations.

In February 2023, Shinar’s search fund, Castle Succession LLC, acquired Qual-Econ USA, an established lower middle market business. Following the acquisition, Shinar assumed the role of President. The transaction was represented on the sell-side by Liberty Group of Nevada’s Stewart Guthrie, a fellow military veteran also recognized in this article.

Poga Ahn graduated from the United States Military Academy at West Point, where he earned the Walter Hollis Award for Excellence in Operations Research. He later served as an Army Officer from 2010 to 2016.

At his search fund, Bells & Bear, Ahn acquired SafeLogic in November 2020 and stepped in as CEO. SafeLogic provides cryptographic software and compliance solutions that help organizations meet federal security standards, including FIPS 140 requirements.

Alex Clark graduated from West Point in 2016 before serving as an Infantry Officer in the U.S. Army from 2016 to 2021, reaching the rank of Captain. During his military service, he served as a Platoon Leader, Executive Officer, and team captain of the U.S. Army World Games Soccer Team.

Clark later earned an MBA from Stanford Graduate School of Business and worked as a strategy consultant at Boston Consulting Group before co-founding Novo Foundry.

In February 2025, Novo Foundry acquired Windsor FireForm, a manufacturer of custom porcelain enamel panels, graphic tile systems, and engineered mounting solutions for architectural signage, public art, transit, and other permanent public environments.

Roger Rumble is a U.S. Army veteran who served in the Far East during the Vietnam Conflict. Following his military service, he built a career spanning more than 30 years as a business broker, assisting buyers and sellers in nearly 200 transactions. He is the owner of The Stratford Associates, a Michigan-based business brokerage firm specializing in lower middle market mergers, acquisitions, and divestitures.

In February 2026, Rumble represented the owner of a specialty woodworking company in its sale to an Illinois-based search fund. Throughout his career, he has remained active in the profession as a Certified Business Intermediary, Fellow of the International Business Brokers Association, and past president of the Michigan Business Brokers Association.

James Howard served in the U.S. Navy from 1999 to 2013, including service with SEAL Team Eight and SEAL Team Ten. He reached the rank of Chief Special Operator and completed combat deployments to Afghanistan and Iraq, as well as additional non-combat deployments to Africa and Europe.

Howard joined Memphis-based family office SouthWorth Capital Management in 2018 and currently serves as Chief Operating Officer. In March 2025, SouthWorth acquired award-winning landscape company Scapes Group, marking the firm’s sixth completed acquisition through the Axial platform.

Kevin Williams served in the U.S. Navy as a Navy SEAL, holding leadership roles including Assistant Platoon Commander with SEAL Team FIVE, Platoon Commander and Operations Officer with SEAL Team THREE, Troop Commander with SEAL Team SIX, and Basic Training Officer at the Naval Special Warfare Center.

Williams is a Partner at Dauntless Capital Partners. In November 2023, the firm acquired Aelott Air Conditioning, followed by Metz Air Control in September 2025, expanding its investment in the residential and commercial HVAC services sector.

Erik Lawler served as an officer in the U.S. Navy after being selected for the SEAL Officer Candidate Program. He graduated from Officer Candidate School with Distinguished Graduate honors before advancing to Basic Underwater Demolition/SEAL (BUD/S) training. BUD/S is one of the U.S. military’s most demanding selection programs, with fewer than one in four candidates completing the course.

Lawler co-founded Legato Equity, an independent sponsor based in Kirkland, Washington. In April 2022, Legato acquired a healthcare laundry company providing commercial linen and laundry services to healthcare facilities. Following the acquisition, Lawler served as Interim CEO for nearly three years and now serves on the company’s Board of Directors.

Merrill Matthews graduated with distinction from the United States Naval Academy, finishing in the top five percent of his class, before serving as a U.S. Navy Submarine Officer from 2009 to 2012.

Matthews is Managing Partner of Denver-based independent sponsor Falx Capital, which focuses on lower-middle-market healthcare, B2B services, and niche manufacturing businesses. In March 2025, the firm acquired Asset Systems Inc., a software company that provides asset tracking and management solutions.

Scott Cullerton served as a Lieutenant in the U.S. Navy from 1998 to 2002. Following his military service, he spent nearly 15 years at KKR after beginning his investment career with Morgan Stanley Private Equity and Merrill Lynch, before launching an independent investment firm, Tiger Lily Holdings.

In May 2024, Tiger Lily Holdings acquired DuraBrake, a manufacturer of aftermarket brake drums, rotors, hubs, and calipers for medium- and heavy-duty commercial vehicles. The transaction was completed in partnership with the Shroff family, who retained meaningful equity and continue to lead the company’s senior leadership team.

Steven Dalrymple is a U.S. Navy veteran with more than 35 years of experience in financial services, private equity, and investment banking. He founded Charles Spencer & Company, served as CEO of two Platinum Equity portfolio companies, and held investment banking roles with firms including Merrill Lynch, Waddell & Reed, MetLife Securities Group, and Signator Securities before founding and serving as Managing Partner of Dallas-based TEG Capital Advisors.

In March 2024, Dalrymple and c represented the sellers of Total Valve & Equipment, a wholesale distributor of valves and industrial equipment, in the sale of the company to EO Capital Partners.

Ryne Collins graduated from The Citadel before serving more than 10 years in the U.S. Air Force as an F-15E Strike Eagle pilot. During his military career, he served as an Operational Instructor with the 492nd Fighter Squadron, Flight Commander with the 333rd Fighter Squadron, and Director of Staff for the 4th Operations Support Squadron. Following his military service, he earned an MBA from Duke University’s Fuqua School of Business.

Collins joined private equity fund Plexus Capital in 2020 and now serves as Vice President of Business Development. In July 2025, Collins led the acquisition of a commercial landscaping services company sourced through the Axial platform.

Layne Kasper graduated from the United States Air Force Academy, where he was co-captain of the varsity baseball team, before serving as a Captain and Weather Officer in the U.S. Air Force from 1992 to 1997. Following his military service, he joined Kasper & Associates, where he has served as Managing Partner for the past 29 years. Kasper & Associates is a Fort Worth-based M&A advisory firm founded in 1984.

In November 2024, Kasper represented the owner of Lambert’s Ornamental Iron, a Texas-based metal design, fabrication, and installation company, in its acquisition by entrepreneur Tim Andres. Reflecting on the transaction, Kasper noted that “it’s rewarding to assist business owners when they’re ready to move on to the next chapter of their life.“

Andrew Williams served as a Captain in the U.S. Air Force from 1987 to 1991. Following his military service, Williams built a career leading businesses across the medical technology, energy, homeland security, and healthcare sectors before co-founding the Nashville-based corporation ISG Devices. Williams has invested in more than 100 early-stage companies as an angel investor, with portfolio exits including Grove Collaborative and Root AI.

ISG Devices develops precision measurement instruments and sensor technologies for industrial, power, automotive, and infrastructure monitoring applications. In April 2023, ISG Devices acquired HydroLynx Systems, a manufacturer of real-time telemetry systems for hydrology, environmental monitoring, and weather applications.

Alex Concepcion served as an Avionics Specialist in the U.S. Air Force from 1998 to 2001. Following his military service, he co-founded EZ Clean 36:25 before transitioning into commercial finance. Today, he serves as Chief Operating Officer at Fort Lauderdale-based Alternative Funding Group, where he oversees operations and strategic initiatives across the firm’s alternative-funding business.

In November 2021, Concepcion and Alternative Funding Group facilitated a growth-capital investment in a human resources consulting services company through the Axial platform.

Mark Cuthbert served as Officer-in-Charge of the U.S. Air Force Combat Weather Team from 2002 to 2006, leading a 20-person team responsible for operational planning, logistics, training, and weather support. During a deployment to Iraq, he coordinated weather operations supporting Army aviation missions across Northern Iraq.

Following his military service, Cuthbert earned an MBA from Harvard Business School, worked as a strategy consultant with Boston Consulting Group, and later held senior strategy roles at USAA. 

Through JTEN Companies, Cuthbert acquired RDH Environmental Services in October 2024 and stepped in as CEO. RDH provides wastewater compliance, flow monitoring, and environmental reporting solutions for industrial, municipal, and government clients.

Michael Badman served in the U.S. Air Force from 2017 to 2020 in financial management roles. During his service, he also volunteered as a Professional Development Coordinator, organizing career development events for active-duty Air Force personnel. After serving in the military, he began a career in finance and M&A, completing internships at Citi and J.P. Morgan before joining KBW as an investment banking analyst.

Badman joined American Landscaping Partners in November 2024. Within one month, he pursued the acquisition of a lawn fertilization company through the Axial platform and helped lead the successful closing of the transaction in March 2025. The acquisition expanded the firm’s growing portfolio of commercial and residential landscaping businesses.

Stewart Guthrie served in the U.S. Marine Corps from 1990 to 1995 as a Corporal and Radar Repairman, supervising a team that maintained AN/TPS-63 air surveillance radar systems while supporting the 1st Marine Air Wing. His military service included postings in Okinawa, Japan, the Philippines, and South Korea.

Following the Marines, Guthrie and his wife and business partner, Kathryn, owned, built, and sold two businesses before acquiring Liberty Group of Nevada, a Northern Nevada business brokerage firm.

Through Liberty Group of Nevada, Guthrie represented the owners of Qual-Econ USA, an environmental consulting and engineering firm, in the sale to Army veteran Jason Shinar of Castle Succession LLC, who acquired the company in February 2023.

Greg Rives served in the U.S. Marine Corps from 2012 to 2017 as a Captain and Engineer Officer, holding leadership roles as a Company Commander and Combat Engineer Platoon Commander. Following the Marines, he built a career in finance, including five years in Morgan Stanley’s Financial Sponsors Investment Banking Group, before founding Riverine Group.

In April 2025, Riverine Group acquired Comfort Zone, a Rhode Island-based provider of residential and commercial heating, cooling, geothermal, and plumbing services. Following the acquisition, Rives assumed the role of President, leading the company into its next chapter.

Closing Thoughts

The veterans featured in this article represent a cross-section of the investors, advisors, and entrepreneurs who have completed transactions through the Axial platform. While their military service took many forms, each has continued a career of leadership through business ownership, investment, or M&A advisory.

As we celebrate America’s 250th anniversary this Independence Day, Axial is proud to recognize these veterans and thank all who have served our country. 

Wishing everyone a happy and safe Independence Day!