Veritas Capital Acquires Steampunk, Plans Merger With MetroStar
Veritas Capital and affiliates of The Veritas Capital Vantage Fund, L.P., have entered into a deal to acquire Steampunk, Inc. When the transaction closes, Veritas will merge Steampunk with existing portfolio company MetroStar Systems, LLC, to form a single company. “MetroStar has built something rare: real technical strength paired with a culture that actually backs
Veritas Capital Moves to Buy MetroStar Systems to Drive AI-Focused Federal Modernization
Veritas Capital announced that affiliates of its Vantage Fund have entered into a definitive agreement to acquire MetroStar Systems, an AI-enabled digital transformation and software company serving the U.S. defense and national security sectors. Based in Reston, Virginia, MetroStar has supported defense and intelligence missions for nearly three decades through AI-enabled solutions that help agencies
Veritas Capital to Acquire CAES Space Systems
An affiliate of Veritas Capital has entered into a definitive agreement to buy CAES Space Systems, an independent supplier of electronic solutions for space, defense, health care and industrial applications. Mike Elias, senior vice president and division general manager, will continue to lead CAES Space Systems, alongside the rest of the leadership team. “CAES Space
Guidehouse to Buy Grant Thornton’s Public Sector Advisory Practice
Veritas Capital portfolio company Guidehouse has signed an agreement to acquire Grant Thornton LLP’s Public Sector Advisory practice in a move that bolsters Guidehouse’s government footprint and capabilities. “We are excited to welcome our new colleagues to Guidehouse, building on the strength of our model, continued innovation, and driving the best outcomes for our clients,” said
Cubic Corp. Appoints Mac Curtis as Board Chair, Stevan Slijepcevic as CEO
Veritas Capital-backed Cubic Corp. has named Stevan Slijepcevic president and CEO, and Mac Curtis has been appointed chairman of the board. Both executives succeed Bradley H. Feldmann, who stepped down as chairman, president and CEO. Curtis brings more than 30 years of leadership experience, having served as a multitime CEO in the government technology industry.
Guidehouse Finalizes Dovel Technologies Acquisition
Guidehouse, a Veritas Capital portfolio company, has completed its acquisition of Dovel Technologies, a portfolio company of Macquarie Capital. “With the Dovel acquisition now complete, we are thrilled to join forces and welcome our new colleagues to Guidehouse as we combine our technology-first business models and share our strengthened capabilities,” said Guidehouse CEO Scott McIntyre.
Peraton Sells Systems Engineering, Integration and Support Services Business
Peraton Corp. has completed the sale of its systems engineering, integration and support services business to CTFV Acquisition Corp., a portfolio company of The Veritas Capital Vantage Fund. As a result of the sale, the SES Business will operate as an independent, standalone company. The separation of the SES Business and Peraton allows each company
Guidehouse to Acquire Dovel Technologies
Guidehouse, a portfolio company of Veritas Capital and a provider of strategic advisory and technology services, has entered into a definitive agreement to acquire Dovel Technologies. “The acquisition of Dovel is a strategic step in our journey to create the next generation global consultancy,” said Scott McIntyre, CEO of Guidehouse. “Bringing together best-in-class portfolios, highly
Veritas Capital Inks $7.1B Deal to Buy Perspecta
Government services provider Perspecta, Inc. announced Jan. 27 it has entered into a definitive agreement to be acquired by Peraton, a Veritas Capital portfolio company, in an all-cash transaction valued at $7.1 billion. The transaction has been approved by the Perspecta board of directors and is expected to close in the first half of 2021,
Veritas Inks Deal to Buy Northrop’s Federal IT, Mission Support Services Group
An affiliate of investment firm Veritas Capital has signed a definitive agreement to acquire Northrop Grumman Corp.’s federal IT and mission support services business for $3.4 billion in cash. The business provides various advanced technology solutions, including cybersecurity, data analytics, cloud and advanced engineering to defense, intelligence, space, civil and health customers. It “has an exceptional
Mark Fallon Appointed CEO of APTIM
Veritas Capital portfolio APTIM has hired Mark Fallon as chief executive, replacing Mike Donnelly who retires this month. Ramzi Musallam, CEO and managing partner of Veritas Capital, said Fallon has 25 years of experience across the government and the commercial markets APTIM serves “and is an ideal fit to lead APTIM going forward.” “We are confident
DXC Technology to Sell HHS Business to Veritas Capital
DXC Technology has entered into a definitive agreement to sell its U.S. State and Local Health and Human Services business to Veritas Capital for $5 billion in cash. The transaction is expected to close no later than December 2020. “I’m pleased that we were able to identify such an outstanding home for our U.S. State
Retired Brig. Gen. Mike Hoskin Joins Guidehouse
Veritas Capital portfolio company Guidehouse has named retired Brig. Gen. Mike Hoskin director and senior adviser to the defense sector. Hoskin is an expert in acquisition reform, strategic sourcing and contracting with extensive experience in Army, joint, interagency and international business. “Guidehouse is a values-based professional management, technology and consulting organization,” Hoskin said. “The leadership
Guidehouse to Buy Navigant Consulting in $1.1B Deal
Veritas Capital portfolio company Guidehouse has agreed to acquire Navigant Consulting, Inc for $1.1 billion in a deal expected to close in the fourth quarter of this year. With this acquisition, each organization’s expertise will be brought together to focus on client needs in health care, financial services, energy, national security and aerospace and defense. Scott
Peraton to Buy Solers, Inc.
Veritas Capital portfolio company Peraton has entered into a definitive agreement to acquire software development and systems integration provider Solers, Inc. Solers operates in space situational awareness, satellite ground systems and operations, cybersecurity engineering and enterprise cloud-based solutions. “The acquisition of Solers represents an important step in the execution of our growth strategy and serves
Perspecta Recognized as Deal Team of the Year by ACG National Capital
Perspecta, Inc. has been given the 2019 Corporate Growth Award for Deal Team of the Year by ACG National Capital, recognized for its accomplishments in executing growth strategies and deals. ACG National Capital’s annual Corporate Growth Awards celebrate the Washington, D.C., region’s growth executives, investors and transaction teams, and highlights individuals and companies successfully crafting
Alion Science and Technology Names MacB President and CEO Sid Fuchs Chief Operating Officer
Alion Science and Technology has tapped MacAulay-Brown, Inc. President and CEO Sid Fuchs to serve as chief operating officer. Fuchs joined Alion’s senior leadership team when MacB was acquired in August 2018 by Veritas Capital and merged with Alion. In his new position, Fuchs will report to Alion CEO Steve Schorer and will oversee all business and program
Expert Prediction Says 2019 Rife with Strong Deal-Making, M&A
Marc B. Marlin is a managing director at KippsDeSanto & Co. 2018 government contractor technology solutions M&A activity finished off the year strong, with the expectation for continued deal-making into 2019. 2018 saw activity that approached 2017 levels, with GTS deal announcements anticipated north of 80 transactions. Private equity was particularly active in 2018 with
Veritas Capital To Buy PricewaterhouseCoopers’ US Public Sector Unit
Private equity investment firm Veritas Capital said today its affiliate has signed an agreement with PricewaterhouseCoopers LLP to acquire its U.S. public sector business. After the deal closes, the U.S. public sector business will get a new name and will operate as an independent company. PwC’s U.S. public sector business helps governments on all levels
Peraton Promotes New HR Chief
Peraton has promoted Laurie Foglesong, an 8-year veteran with the company, to chief human resources officer. Foglesong has more than 20 years’ experience in human resources, and served as an HR director for Harris Corp. before its government services business was acquired by Veritas and rebranded as Peraton. “I can think of no better person
DXC Technology to Merge U.S. Public Sector Unit with Vencore and KeyPoint Government Solutions
DXC Technology is combining its U.S. public sector business with Vencore Holding Corp. and KeyPoint Government Solutions, creating a publicly traded company to serve U.S. government customers. Vencore and KeyPoint are owned by affiliates of private equity firm Veritas Capital, which remains an investor in the new business. The expected completion of the new business is March 2018, subject to regulatory and
Alion Names Steve Schorer as New CEO and President
Alion Science and Technology has appointed Steve Schorer as its new president and CEO, following the retirement of its previous CEO Bahman Atefi. Schorer has had a long career in the aerospace and defense industry, having held leadership positions with DynCorp, DynAviation, L-3 Communications, DRS Technologies and Camber Corp. His tenure officially begins May 19, while Atefi, who has served as
Veritas Capital to Acquire Alion Science and Technology Corporation
Veritas Capital (Veritas) announced on July 23rd that it will acquire Alion Science and Technology Corporation (Alion). The financial terms of the deal were not disclosed. Alion provides engineering solutions and services in defense, homeland security, and other critical government areas. Alion’s annuals revenue reaches approximately $1 billion with over 2,700 employees across 37 states and
Bridge Growth Partners to Acquire Software and Analytics Firm, CRGT Inc.
Bridge Growth Partners, LLC, a private equity firm that focuses on investments in the financial services and technology sectors, today announced it has entered into a definitive agreement to acquire CRGT, Inc. from an affiliate of Veritas Capital. CRGT provides software development and data analytics to federal government agencies. The transaction is expected to close
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