ManTech International announced on Wednesday that the company’s sale to global investment firm Carlyle has been completed. The all-cash acquisition represents a total enterprise value of roughly $4.2 billion. Robert W. Baird & Co. acted as the financial advisor for Carlyle in the transaction.
ManTech Chairman, President and CEO Kevin Phillips, a six-time recipient of the prestigious Wash100 Award, expressed his excitement and explained that the closing of the transaction is the beginning of a new chapter for the company.
“We are proud of the leadership position we have built and believe we are well prepared to advance our business, our strategic plan and the value we provide to our customers and employees with the additional expertise of the Carlyle team,” said Phillips.
Following the completed acquisition by Carlyle, ManTech will remain headquartered in Herndon, Virginia and continue to be a leading provider of innovative technologies and solutions in the mission-critical national security sector as the company has for more than 50 years.
Dayne Baird, a managing director on Carlyle’s Aerospace & Government Services team, said that ManTech continues to be at the forefront of its industry.
“We are pleased to complete the transaction and look forward to partnering with ManTech to advance the mission of its customers across the federal government,” Dayne Baird continued. “We believe our deep sector expertise, network and resources will help accelerate ManTech’s growth and drive greater value for its customers and employees.”