Eric Wolking

Eric Wolking is a Partner at Bluestone Investment Partners, a McLean, Virginia-based lower middle-market private equity firm focused on defense and government technology companies. Bluestone says it invests in technology and product companies serving the defense and government sector and partners with leadership teams to drive growth through organic initiatives and targeted acquisitions.

Before Bluestone, Wolking served as CEO of GAP Solutions from Bluestone's 2013 acquisition of the company until GAP Solutions' 2017 sale to System One Holdings. Bluestone's 2013 announcement described GAP Solutions as a professional and technical services provider primarily serving civilian agency customers, and said the company was acquired by an entity led by Wolking and Pat Flannery, both former Stanley Associates executives.

Earlier in his career, Wolking spent more than 13 years at Stanley Associates and CGI in senior executive roles. At Stanley's 2010 acquisition by CGI, he led the Technical Programs Group, an 800+ employee business unit supporting clients including Army CECOM, Army AMCOM, Naval Sea Systems Command, and the U.S. Patent and Trademark Office. After the CGI Federal acquisition, he led National Security Programs, a $160M business unit serving Justice, Homeland Security, and Defense customers.

Wolking also served as Senior Vice President of Corporate Development at Stanley, where he led the company's $170M acquisition of Oberon Associates. Earlier roles included Account Manager for Federal Civilian Programs and Director of Midwest Operations. He also worked at Dell Computer and Troika Networks, a Draper Fisher Jurvetson portfolio company. He holds an M.B.A. with a finance emphasis from UCLA Anderson and a B.A. in International Studies and Economics from American University.

• Bluestone's stated focus is “technology and product companies serving the defense and government sector.”
• The firm targets lower middle-market defense and government services businesses, especially highly specialized companies delivering mission-critical services to government customers.
• Bluestone's model is operationally active: it emphasizes partnering with leadership teams, using relationships and M&A expertise, and creating value through both organic growth and targeted add-on acquisitions.
• Bluestone lists target company size as $15M-$150M of revenue and $2M-$10M+ of EBITDA.
• Investment types include majority investments, management buyouts, co-investments, minority investments, recapitalizations, growth capital, and corporate carve-outs.
• Wolking's own public comments emphasize management-team quality and scalability: in a LinkedIn post about Precise Systems, he wrote that when Bluestone evaluates platform companies, it assesses whether the executive team “will scale the business.”