Government & Public Sector Acquisitions in Tennessee

CBRE Group, Inc. agreed to acquire J&J Worldwide Services from Arlington Capital Partners for $800 million in cash plus up to $250 million in contingent consideration. The acquisition expands CBRE's technical services and government contracting capabilities, adding J&J's ~3,300 employees and long-term DoD and federal facility contracts headquartered in Franklin, Tennessee.

PayIt, a GovTech provider of digital customer experience and payments for state and local governments, has entered into a definitive agreement to acquire Sovereign Sportsman Solutions (S3), a conservation and outdoor-recreation licensing and permitting technology provider. The acquisition expands PayIt's product set to include outdoor recreation licensing, permitting, and volunteer/event management solutions and is expected to close by the end of May.