Enterprise Building
Building Verus Research: From Founding Member to Strategic Acquisition
Co-founded Verus Research in 2014 and built the financial and governance infrastructure that scaled the firm to #26 among New Mexico's largest private companies, culminating in 2025 acquisition by Radiance Technologies.
NM Ranking
#26
Navy Contract
$52M
Founded
2014
Challenge
Launching an advanced research and development firm in a competitive defense and aerospace market required establishing credible financial controls, governance frameworks, and contract execution capability from day one—without the infrastructure of an established prime contractor.
Situation
As founding Managing Director and CFO, Andrews joined scientists and engineers specializing in electromagnetic technology, lasers, and nuclear systems analysis to form Verus Research (originally XL Scientific, LLC) in Albuquerque, New Mexico—a region rich in national laboratory talent but demanding proven enterprise capability to win major contracts.
Strategy
Establish corporate governance, financial reporting, and contract management infrastructure parallel to scientific excellence. Pursue differentiated contract opportunities leveraging New Mexico's defense ecosystem while building reputation through disciplined execution on progressively larger programs.
Execution
Built executive committee governance, financial controls, and business development capability supporting contracts across Navy, defense contractors, and national laboratories. Secured recognition as youngest company on New Mexico's Top Private Companies list. Won $52M NSWC Crane combined radiation environments test capability contract.
Outcome
Verus Research achieved #26 ranking among New Mexico private companies (2021), secured major Navy contract awards, and in June 2025 was acquired by Radiance Technologies as a wholly-owned subsidiary maintaining Albuquerque operations—validating enterprise value created through disciplined founding leadership.
Business Impact
- ✓#26 largest private company in New Mexico (2021)
- ✓Youngest company on NM Top Private Companies list
- ✓$52M NSWC Crane radiation test capability contract
- ✓2025 acquisition by Radiance Technologies
- ✓Sustained Albuquerque operations and employment base
Lessons Learned
- “Founding financial discipline enables scientific organizations to compete for major contracts”
- “Governance infrastructure must scale in parallel with technical capability”
- “Regional defense ecosystems reward enterprises that combine innovation with operational credibility”