Acorn Growth Companies Invests in Advanced Inspection Solutions Firm

Acorn Growth Companies announced today that it has made a seed level investment in aerospace technology firm Veracity Technology Solutions.  

Veracity offers customized inspection solutions using proven, proprietary technology, developed by Tulsa-based USUT Labs, that allows clients to extend the service life of high-value assets, protect business revenues and save human life. The non-destructive inspections (NDI) market is estimated to be more than $2 billion per year and is a required function within the aerospace sector.

”We are very excited about our investment in Veracity, said Jeff Davis, a partner in Acorn Growth Companies. The company has the potential to be a leader in the next generation of NDI for aerospace and sectors that require frequent inspection of high value assets. We are particularly gratified that this world-class technology was developed here by innovative Oklahomans”

Veracity’s solutions-based approach is designed to provide faster, better and cheaper non destructive inspections for our customers through an integrated system that seeks to achieve, reduced overall inspection costs, improved inspection speed and throughput, enhanced anomaly characterization and image fidelity and digital data management by applying advanced technology to difficult problems. 

“Veracity is bringing medical grade imaging to the aerospace sector and, by doing so, will offer a service that far surpasses existing inspection technology,” said Dennis Wulf, President of USUT Labs and developer of the technology.  

USUT Labs was awarded a Phase II SBIR by Warner Robbins Air Force Base in 2005 to refine the technology by improving fidelity and portability attributes. In addition to the US Air Force, current customers include the US Navy, Northrop Grumman, Sandia National Laboratory and the Los Alamos National Laboratory. 

Acorn Growth Companies is an aerospace and defense private equity firm with more than $60 million under management. The firm invests in both early and latter stage opportunities that support the aerospace sector. 

Visit Acorn on the web at www.acorngrowthcompanies.com and Veracity at www.VeracityTS.com. 

For more information:

Jeff Davis, Partner
Acorn Growth Companies
2701 Liberty Parkway, Suite 311
Midwest City, OK 73110
405-413-7264
jeff@acorngrowthcompanies.com