ManTech’s acquisition by Carlyle is complete
On September 14, Herndon, VA-based ManTech International Corporation announced the completion of its sale to funds managed by global investment firm Carlyle in an all-cash transaction representing a total enterprise value of approximately $4.2 billion.
Under the terms of the go-private transaction, ManTech stockholders will receive $96.00 per share in cash. With the completion of the transaction, 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. We believe our deep sector expertise, network and resources will help accelerate ManTech’s growth and drive greater value for its customers and employees.”
“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, Chief Executive Officer and President Kevin M. Phillips. “Throughout the company’s 50+ 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. 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.”
ManTech will remain headquartered in Herndon, VA and the transition is expected to be seamless for customers and employees across ManTech’s business.
Your competitors read IC News each day. Shouldn’t you? Learn more about our subscription options, and keep up with every move in the IC contracting space.