Vangent Inc. has hired Bank of America Merrill Lynch and Goldman Sachs Group to pursue a sale of the company, according to a June 2 Reuters report. The process has reportedly drawn interest from both private-equity firms and other companies doing business in the government contracting sector.
Private-equity firm Veritas Capital bought Vangent, then known as Pearson Government Solutions, in 2007 for around $600 million. According to the Reuters report, it hopes to get $1.1 billion to $1.2 billion from the sale, which is in the second round of talks.
Vangent is led by President and CEO Mac Curtis and provides consulting, systems integration, human capital management and other outsourcing services to the U.S. federal and international governments. The company employs 7, 000 and is based in Arlington, Va.