Tom McMillen's Slam Dunk

Stock quotes in this article: TASR , NNNC  

For McMillen, Fortress America will be the third security start-up with which he's been involved.

In 2003, McMillen co-founded Global Secure Corp., a self-described "homeland security consolidator'' that has acquired three security-related companies. To date, Washington-based Global Secure claims to have raised about $30 million to finance its acquisition. One of the company's main financial backers is Sky Capital, the investment firm McMillen was affiliated with for several years.

McMillen helped attract an A-list of Washingtonian notables to Global Secure's side while serving as the firm's chief executive and then a consultant. Some of the members of Global Secure's advisory board include Mark Holman, a former deputy assistant on homeland security to President Bush; Richard Armey, a Texas Republican who served as House Majority Leader; and Howard Safir, the former New York City police commissioner.

McMillen severed all ties to Global Secure in February, two months after Fortress America was formed. A Global Secure official did not return a phone call seeking comment. An official with Sky Capital, which has a number of top executives on Global Secure's board, also did not return a phone call.

Since last October, McMillen also has served as chairman of Global Defense Corp., another Washington-based, acquisition-minded start-up. It too claims to have some high-powered boosters, including Apollo 11 astronaut Buzz Aldrin and retired military officer Chuck Nash, both of whom sit on Global Defense's advisory board.

In its IPO filing, Fortress America says it intends to rent office space from Global Defense at a maximum price of $7,500 a month.

Global Defense, which the IPO filing describes as an "affiliate of Mr. McMillen," appears to be another company looking for a merger partner so it can go public.

  • Loading Comments...
  •  

SHARE:

  • email
  • print
  • comment
  • digg
  • delicious
  • linkedin

Recent Comments





Connect with TheStreet

Dow Jones S&P 500 NASDAQ 10-Year Note
10,276.82 1,086.49 2,130.37 32.23
Oil *
76.00
DOWN
187.58
DOWN
24.14
DOWN
45.68
DOWN
0.56
10 Yr
3.22%
SPDR Gold
113.65
-1.79%
-2.17%
-2.10%
-1.71%
Data delayed 20 minutes

Brokerage Partners

TheStreet Premium Services

All Services