Guidehouse, a Veritas Capital portfolio company, has agreed to buy Navigant Consulting (NYSE: NCI) for approximately $1.1B in a move to create a global consultancy that will serve customers across the public and private sectors.
Shareholders in Navigant will get a cash payment of $28 per share, a 16 percent premium over the Chicago-based company’s Thursday closing stock price, Guidehouse said Friday.
The combined entity will support customer requirements in the defense, aerospace, national security, healthcare, energy and financial areas.
Scott McIntyre, CEO of Guidehouse and a 2019 Wash100 winner, said both companies seek to use “complementary strengths” in efforts to help government and commercial clients address challenges and build resilience in missions.
“We look forward to the next chapter of growth as the new organization goes out to market as one entity with combined expertise and scale,” said Ramzi Musallam, CEO and managing partner of Veritas Capital and a 2019 Wash100 Award recipient.
Jefferies and Sidley Austin acted as the financial adviser and legal counsel of Navigant in the transaction, respectively, while Schulte Roth & Zabel served as the legal counsel of Guidehouse and Veritas Capital.
Both parties aim to complete the proposed combination in the fourth quarter.