WashingtonExec
  • News & Headlines
  • Executive Councils
  • Videos
  • Podcast
  • Events
    • 🏆 Pinnacle Awards
    • 🏆 Chief Officer Awards
  • About
  • Contact Us
Twitter Feed
LinkedIn Facebook Twitter Instagram YouTube
LinkedIn Facebook Twitter Instagram YouTube
WashingtonExec
Subscribe To The Daily
  • News & Headlines
  • Executive Councils
  • Videos
  • Podcast
  • Events
    • 🏆 Pinnacle Awards
    • 🏆 Chief Officer Awards
  • About
  • Contact Us
WashingtonExec
You are at:Home»News»Mergers & Acquisitions»PAE to Merge with Gores Holdings III  
Mergers & Acquisitions

PAE to Merge with Gores Holdings III  

By Adam StoneNovember 4, 2019
Share
LinkedIn Facebook Twitter Email
John Heller, PAE

Platinum Equity portfolio company PAE, an outsourced solutions provider, has announced an agreement to merge with Gores Holdings III, a special purpose acquisition company sponsored by an affiliate of The Gores Group. 

Upon closing, this transaction will introduce PAE as a publicly listed company, with an anticipated initial enterprise value of approximately $1.55 billion or 8.9x the company’s estimated 2020 pro forma adjusted EBITDA of approximately $174 million. 

PAE CEO John Heller said the move positions the firm for further growth.

“Thanks to Platinum Equity and the hard work of our employees around the world, PAE has accomplished a lot over the past three years and is well prepared to take advantage of the opportunities ahead,” he said. “With this next chapter, we will have the clear ability to accelerate our strategic plan and invest in our continued growth.” 

Platinum Equity Partner Louis Samson said the transaction “combines PAE’s strong track record of successful M&A and a de-levered balance sheet with the public company currency of a newly listed business, which will position the company to participate in the ongoing consolidation taking place in the government services sector.” 

Founded in 1955, PAE is a provider of mission-critical services to the U.S. government, armed forces and international customers, including the State Department, Army, Navy, Air Force, NASA and others. 

The government services sector continues to experience positive momentum, “and PAE is well positioned to accelerate its growth and margin expansion,” said Mark Stone, CEO of Gores Holdings III. 

Previous ArticleBob Spitz Named CTO at Halfaker and Associates 
Next Article LMI Buys Clockwork Solutions, Expands Advanced Analytics Offerings

Related Posts

WATCH: Attain’s Greg Baroni on March 31 Kidney Ball, Kidney Health Awareness

Katie Selbe Named COO of Newly Formed Eqlipse Technologies

Top ESG Execs to Watch in 2023: ECS’ Dr. Shayla Treadwell

Comments are closed.

Chief Officer Awards Finalists Announced
Trending

WATCH: Attain’s Greg Baroni on March 31 Kidney Ball, Kidney Health Awareness

March 22, 2023

Katie Selbe Named COO of Newly Formed Eqlipse Technologies

March 22, 2023

Top ESG Execs to Watch in 2023: ECS’ Dr. Shayla Treadwell

March 22, 2023

Top ESG Execs to Watch in 2023: Leidos’ Daniel Pellegrom

March 22, 2023

GDIT Wins $380M in EPA Contracts for Scientific, Climate Support

March 22, 2023
Quick Links
  • Executive Councils & Committees
  • Chief Officer Awards
  • Pinnacle Awards
  • K-12 STEM Symposium
  • Advertise With Us
  • About WashingtonExec
  • Contact

Subscribe to The Daily

Get federal business news & insights delivered to your inbox.

  • Facebook
  • Twitter
  • LinkedIn
  • YouTube
Copyright 2023 © WashingtonExec, Inc. | All Rights Reserved. Powered by J Media Group

Type above and press Enter to search. Press Esc to cancel.