Technology Service Corporation Closes on Acquisition by Blackstone-Backed Purchaser

Deal Spotlight transaction provides significant value to TSC's employee-owners through the Company's Employee Stock Ownership Plan

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Press Release | 1 min read

Oct 8, 2026

Hinshaw recently represented GreatBanc Trust Company in a stock purchase of Technology Service Corporation ("TSC") by an affiliate of Blackstone. Hinshaw’s client served as independent trustee for the employee stock ownership plan (“ESOP”), which owned 100 percent of the stock of TSC. Terms of the deal are confidential. TSC is a defense contractor with approximately $300 million in annual revenues.

Concurrently with the closing, Blackstone announced that TSC would be part of its new defense-focused conglomerate, named “Falcata.”

Hinshaw’s ESOP services team, led by Tony Jacob and Todd Young, provides legal counsel to a wide variety of ESOP-owned companies, ESOP trustees, and ESOP lenders in transactions at all phases of the life cycle of an ESOP-owned company. Tony Antognoli, Kyle Fonjemie, and Emily Halpin assisted Tony and Todd in the TSC deal.

About GreatBanc Trust Company

GreatBanc is the nation’s leading Employee Stock Ownership Plan (ESOP) trustee, relied upon by 500+ employee-owned companies of all sizes across every major business sector.

Hinshaw & Culbertson LLP is a U.S.-based law firm with offices nationwide. The firm's national reputation spans the insurance industry, the financial services sector, professional services, and other highly regulated industries. Hinshaw provides holistic legal solutions—from litigation and dispute resolution, and business advisory and transactional services, to regulatory compliance—for clients of all sizes. Visit www.hinshawlaw.com for more information and follow @Hinshaw on LinkedIn and X.