Sterling Investment Partners

November 28, 2025

Markon Acquires PLEX Solutions to Expand Cyber, AI, and Managed Security Capabilities

FALLS CHURCH, VA - Markon today announced the acquisition of PLEX, a technical powerhouse in cybersecurity, AI, and secure enterprise engineering. This move marks a significant expansion of Markon’s cyber and technology capabilities, reinforcing the firm’s position as a prime partner for mission-focused digital modernization.

“The PLEX acquisition signals a bold shift in what Markon can deliver,” said Ray Carney, CEO of Markon. “We’ve long supported national security missions across enterprise technology, operations, and infrastructure. With PLEX, we’re infusing those efforts with elite cybersecurity and AI capabilities, delivering integrated systems that elevate our impact. From secure systems engineering to digital modernization, this move expands what’s possible for our clients.”

Carney continued, “But this isn’t just about technical fit. From day one, the PLEX team impressed us with their integrity, ownership mindset, and passion for both the mission and their people. PLEX brings energy, heart, and an X-factor that aligns perfectly with Markon’s DNA. Together, Markon and PLEX form a unified team that is stronger, faster, and more equipped to protect and transform our nation’s most vital missions.”

Advancing Technical Depth with Cultural Alignment

PLEX, which stands for People, Leadership, Excellence, and X-Factor, brings more than just capabilities – it enhances Markon’s own X-Factor. With over 195 advanced technical certifications, elite client relationships, and deep expertise in agentic AI, zero-trust architecture, ICS cybersecurity, and autonomous threat simulation, PLEX expands Markon’s ability to serve across classified and defense environments, including U.S. Cyber Command, U.S. Army Materiel Command, and the U.S. Air Force. PLEX brings to Markon an active IRAD (Independent Research and Development) program that accelerates innovation in proprietary cyber tools and autonomous threat models, laying the groundwork for both immediate client impact and future productization.

“The acquisition of PLEX marks a strategic inflection point in the expansion of Markon’s technology platform,” said Drew Thompson, Chief Corporate Development Officer at Markon. “Their expertise in agentic AI, zero-trust architecture, ICS cybersecurity, and secure systems integration immediately strengthens our ability to support the evolving needs of critical missions across national security and beyond. We’re now able to deliver more integrated, forward-leaning solutions, combining secure systems engineering, facility and campus resilience, and digital modernization. Whether it’s safeguarding utilities, data centers, central plants, or operational infrastructure, this move allows us to go deeper in support of our existing clients and positions us for future expansion, all while staying true to our mission-first mindset.”

Integration with Measurable Impact

The acquisition of PLEX increased Markon’s total headcount to more than 600, with cyber and technology offerings now accounting for over half of the combined enterprise’s revenue. Growth projections include:

• Cross-market capability delivery

• Further development and productization of proprietary tools and methodologies

• Amplified access to Government-Wide Acquisition Contracts (GWACs) and Other Transaction Authority (OTA) agreements

• Expanded future opportunities to support enterprises beyond the federal government

“Our work has always been grounded in one thing: helping secure the systems and missions that keep this country safe,” said Stan Nolen, PLEX Co-Founder. “We’ve developed a track record of delivering results in highly technical, highly classified spaces, often where others couldn’t. With Markon, we now have the reach and resources to expand those efforts even further. From ICS cybersecurity and zero-trust environments to proprietary R&D in autonomous threat simulation, we’re doubling down on the kind of work that drives real-world outcomes, and PLEX couldn’t ask for a better partner than Markon to grow that vision.”

“This is a turning point for PLEX and for our team,” said Paul Weidow, PLEX Co-Founder. “Markon gives us the backing to pursue new ideas, scale our R&D, and bring our capabilities to a broader set of national security missions. What made this the right fit wasn’t just the strategic alignment but also the unparalleled cultural fit. We’re bringing amazing technical talent and expertise to a team that knows how to deliver and scale. The alignment around investing in people, advancing client missions, and creating room for innovation makes this more than a business decision; it’s a shared path forward. As part of Team Markon, we’ll have the platform, partnerships, and leadership to take our capabilities further and faster than ever before.”

Cohn Reznick LLP provided buy-side financial advisory services, and Morrison & Foerster LLP, Dechert LLP, and Seyfarth Shaw LLP acted as legal counsel to Markon for its acquisition of PLEX. Piper Sandler & Co. and Baxter Accounting, LLC provided sell-side financial advisory services, and Holland & Knight LLP provided legal counsel to PLEX.

About PLEX

PLEX is a cyber-focused technology company with a strong track record of supporting national security missions across the Department of Defense, Intelligence Community, and select commercial markets. Founded by mission-experienced technologists, PLEX brings deep expertise in secure software engineering, zero-trust architecture, ICS cybersecurity, and agentic AI development. The company pairs technical precision with proven leadership to deliver tailored, high-impact capabilities for some of the world's most complex operating environments. The name PLEX stands for People, Leadership, Excellence, and X-Factor—representing the values that drive its culture and differentiate its approach. For more information, visit www.plex-llc.com.

About Sterling Investment Partners

Sterling Investment Partners is a leading private equity firm that has been building leading middle-market companies for over 30 years with a highly experienced, cohesive team of senior investment professionals. Sterling focuses on control investments in value-added distribution and business services, acquiring businesses that the firm believes have strong, sustainable competitive advantages and significant opportunities for value creation. Over its history, Sterling has completed over 270 transactions, representing over $33 billion in aggregate value. Sterling was ranked a Top 10 performing middle market private equity firm globally by Dow Jones-HEC Paris, and was recognized as a Founder Friendly Investor by Inc.com. For more information, visit www.sterlinglp.com.

Media Contact: pr@sterlinglp.com