Reuters: Providence Equity Partners Mulls SRA IPO or Sale


acquisitionProvidence Equity Partners is looking to either sell or launch an initial public offering of SRA International, which the investment arm believes has a value of approximately $2 billion, Reuters reported Thursday.

Mike Stone and Greg Roumeliotis write the private equity firm has partnered with Citigroup to examine the possibility of an SRA auction.

Fairfax, Virginia-based SRA offers information technology services in the government market and Reuters estimates the company’s annual earnings before interest, taxes, depreciation and amortization to be $195 million in its report.

Providence acquired SRA in 2011 through a $1.88 billion all-cash transaction.

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