PAE has agreed to buy FCi Federal for an undisclosed sum in a move toÂ expand service offerings for federal government clients.
Both companies expect to complete the transaction over the next 45 business days pending regulatory approvals, PAE said Monday.
FCi Federal will become a business unit of PAE following the dealâs completion and will continue to operate through its corporate headquarters in Ashburn, Virginia.
PAE CEO John Heller said the acquisition would help advance the companyâs strategy to expand its portfolio of services in support of the missions of U.S. government agencies as well as allied and international partners.
PAE became a portfolio company of Los Angeles-based investment firm Platinum Equity after its acquisition by the latter from New York City-based private equity firmÂ Lindsay Goldberg in 2016.
FCi Federal operates with approximately 5,000 employees and provides records management, adjudication support, program management, business process outsourcing, fraud detection, eligibility verificationÂ and other national security support services to government customers.
Houlihan LokeyÂ acted as financial adviser to FCi Federal in the deal.