ManTech has completed its sale to funds managed by global investment firm Carlyle in an all-cash transaction that represents a total enterprise value of approximately $4.2 billion.
“The closing of this transaction represents the beginning of a new chapter for ManTech, and we are excited for what the future holds,” said ManTech Chairman, CEO and President Kevin M. Phillips.
Under the terms of the go-private transaction, ManTech stockholders will receive $96 per share in cash. Since completing the deal, ManTech’s common stock has ceased trading and will no longer be listed on the NASDAQ Global Select Market.
“ManTech is at the forefront of its industry, delivering leading and innovative solutions for mission-critical national security programs,” said Dayne Baird, a managing director on Carlyle’s Aerospace & Government Services team.
“We are pleased to complete the transaction and look forward to partnering with ManTech to advance the mission of its customers across the federal government,” he added. “We believe our deep sector expertise, network and resources will help accelerate ManTech’s growth and drive greater value for its customers and employees,”
ManTech will remain headquartered in Herndon, Virginia.
“Throughout the Company’s 50-plus year history, we have evolved and expanded our leading portfolio of differentiated solutions, invested in our diverse and talented workforce and fostered strong relationships with key partners and customers,” Phillips said. “We are proud of the leadership position we have built and believe we are well prepared to advance our business, our strategic plan and the value we provide to our customers and employees with the additional expertise of the Carlyle team.”