Capitol Meridian Partners has completed its acquisition of Westway Enterprises, a national security infrastructure platform operating across multiple states, in a deal that underscores growing investor appetite for secure facility assets as a distinct alternative investment class.
The Washington, D.C.-based investment firm, known for its focus on critical infrastructure and government services, announced the transaction as part of a broader strategy to capitalize on surging demand for accredited secure workspaces driven by expanding defense and intelligence budgets.
Westway operates five ICD 705-accredited facilities spanning Virginia, Colorado, Missouri, and Alabama — purpose-built environments that meet the stringent security standards required by U.S. intelligence agencies and defense contractors. These facilities serve as essential infrastructure for classified programs, making them a high-barrier-to-entry asset with strong recurring revenue characteristics.
Leadership Continuity and Strategic Appointments
Robert J. Miller III will continue as CEO of Westway, providing operational continuity as the company enters its next growth phase under new ownership. In a notable board appointment, Tiffanny Gates — the former CEO of Novetta, a respected analytics firm serving national security clients — has been named Board Chair, bringing deep domain expertise to the governance structure.
Brooke Coburn, co-founder of Capitol Meridian Partners, framed the acquisition in explicitly financial terms. “Accredited secure infrastructure is emerging as a vital new asset class,” Coburn said, signaling the firm’s conviction that government-grade facilities represent an investable category comparable to data centers or logistics hubs.
Miller expressed confidence in the partnership’s growth potential. “With Capitol Meridian’s deep infrastructure experience and world-class team behind us, we can invest ahead of demand and extend our footprint,” he said.
Expansion Plans Signal Demand Thesis
The acquisition comes with immediate expansion plans. Westway is set to open a new facility in Huntsville, Alabama, in early 2027 — a strategic location given Huntsville’s emergence as a major hub for defense technology, space operations, and missile defense programs. The city has attracted billions in federal investment in recent years, creating intense demand for accredited secure workspace.
The expansion underscores a broader trend in defense infrastructure investment. As the U.S. government increases spending on classified programs related to artificial intelligence, cybersecurity, and space operations, the demand for ICD 705-compliant facilities has outpaced supply, creating favorable economics for operators and their financial backers.
Deal Mechanics and Advisors
Morgan Lewis served as legal counsel to Westway, while Latham & Watkins advised Capitol Meridian on the transaction. The involvement of two major law firms suggests a deal of significant complexity and scale, though financial terms were not disclosed.
The transaction fits a pattern emerging across private equity and infrastructure-focused funds: the recognition that national security spending creates durable, government-backed demand streams that are largely insulated from economic cycles. For institutional investors seeking alternatives to traditional real estate and infrastructure plays, accredited secure facilities offer a compelling risk-return profile — high barriers to entry, long-duration government contracts, and limited competition from new entrants.
Capitol Meridian’s bet on Westway may well prove to be an early mover advantage in a category that could attract significantly more institutional capital in the years ahead.
