PAE agrees to acquire FCi Federal
PAE of Arlington, VA announced on April 3 that it has signed a definitive agreement to acquire FCi Federal. FCi, headquartered in Ashburn, VA, provides essential services for immigration and national security including adjudication support, eligibility verification and business process outsourcing services for federal government customers.
The transaction is subject to regulatory approval and is expected to close within 45 business days, after which FCi would become a business unit of PAE. Houlihan Lokey served as FCi’s financial advisor in this transaction, and financial terms were not disclosed.
PAE is a portfolio company of Platinum Equity, which acquired the business in 2016. PAE CEO John Heller views the FCi acquisition as a perfect fit with PAE’s strategy to expand and deepen its portfolio of services that support the essential missions of the U.S. government, its allied partners and other international organizations.
“FCi is an impressive company with a strong track record for growth driven by talented employees and exceptional customer service,” said Heller. “It’s a great strategic fit, presenting new opportunities for both of our companies. It’s also a strong fit culturally, as I know FCi and PAE share the same core values and commitment to the highest performance standards.”
Platinum Equity Partner Louis Samson said the acquisition is an important step in PAE’s continued growth.
“The addition of FCi will expand PAE’s service offering and bring together a lot of very talented employees,” said Samson. “We are delivering on our promise to invest in PAE’s long-term strategy and will continue looking for new opportunities to expand organically or through additional acquisitions.”
FCi Founder and Chairman Sharon Virts said the sale to PAE is the best move for FCi at this stage of the company’s evolution.
“Today’s announcement is the right path to position FCi Federal for continued phenomenal growth,” said Virts. “Since founding FCi in 1991, we have been committed to providing high quality service that differentiates us from competitors while placing a premium on taking care of our employees. That commitment will remain steadfast as we continue to catapult our competitive positioning for the future.”