Government & Public Sector Acquisitions in 2019

Bluestone Investment Partners completed an investment in Intrepid Solutions and Services, a Sterling, Virginia-based provider of enterprise IT, data analytics, and operational training to the U.S. Intelligence Community. The transaction included a co-investment from Route 2 Capital Partners (an SBIC), and Bluestone said the capital will support Intrepid’s organic growth and M&A-led expansion as a platform in the government services market.

Gores Holdings III, a SPAC sponsored by The Gores Group, completed its acquisition of Platinum Equity portfolio company PAE and the combined company was renamed PAE Incorporated and began trading on Nasdaq under PAE and PAEWW. The transaction valued PAE at an approximate $1.55 billion enterprise value and was funded with Gores Holdings III trust cash plus a $220 million private placement led by Alec Gores, with Platinum Equity affiliates retaining a meaningful stake in the new public company.

Whitney, Bradley & Brown, Inc. (WBB), a portfolio company of H.I.G. Capital, has acquired BRTRC Federal Solutions, a Vienna, Virginia-based provider of support services to the U.S. Army, Department of Defense and Intelligence Community. The deal expands WBB's capabilities in systems and vehicle integration, prototyping, strategic communications and cybersecurity as an add-on to its federal government services platform.

Affiliates of private equity firms American Securities and Lindsay Goldberg agreed to acquire the Management Services business from AECOM and launched the standalone government services company Amentum. Headquartered in Germantown, Maryland, the business serves the U.S. federal government and allied governments across defense, intelligence, energy and environmental remediation, and employs more than 20,000 people globally.

ManTech International Corporation completed the acquisition of H2M Group, a Manassas, Virginia-based provider of geospatial and intelligence analysis services. The deal (funded with cash and existing credit) adds roughly 180 employees and strengthens ManTech's GEOINT, imagery/FMV analysis and cartography capabilities to better serve the U.S. intelligence community, including the National Geospatial-Intelligence Agency.

GCOM Software LLC acquired GANTECH, Inc., a Columbia, Maryland-based provider of IT consulting, systems management and managed services for state and local government and education clients. The acquisition — terms not disclosed — expands GCOM's Mid-Atlantic footprint and managed-service capabilities; GCOM is backed by Sagewind Capital.

i3 Verticals, Inc. completed the acquisition of Northeast Texas Data, LLC and Graves Humphries Stahl, LLC (collectively “Net Data”) for approximately $24 million. Net Data provides software and services to municipalities and local governments in Texas (a team of ~70 employees), and the deal expands i3 Verticals' Public Sector capabilities and presence in the Texas market.

Granicus acquired London-based Firmstep to combine Firmstep's online transactions and self-service platform with Granicus' civic engagement and government communications software. The deal expands Granicus' product capabilities for digital government services and deepens its presence in the United Kingdom.

ManTech International Corporation completed the acquisition of Kforce Government Solutions (KGS) for $115 million in cash. The deal expands ManTech's presence in the federal health market — including work for the Department of Veterans Affairs — and brings KGS's employees and capabilities into ManTech's federal services portfolio.

The Riverside Company has acquired Praetorian Digital, a San Francisco–based learning and content platform for public safety and local government, as an add-on to its Lexipol portfolio. The combined business will expand Lexipol’s training, content and compliance offerings—bringing together Praetorian’s large library, audience and SaaS solutions with Lexipol’s policy and training platform to better serve thousands of police, fire and municipal customers.