Author: Mary-Louise Hoffman|| Date Published: July 3, 2017
Global private equity firm H.I.G. Capital has agreed to acquire Reston, Virginia-based government information technology services provider NCI (Nasdaq: NCIT) for approximately $283 cash, or $20 per share.
NCI said Monday its board of directors unanimously approved the proposed sale and that founder and Chairman Charles Narang will tender all of his shares in support of the buyout deal with H.I.G. Capital.
Both parties expect to close the transaction in the third quarter of 2017.
Paul Dillahay, president and CEO of NCI, said the company aims to accelerate its growth strategy and deliver new artificial intelligence and agile software development service offerings to federal customers.
Wells Fargo Securities and Stifel, Nicolaus & Company act as NCI’s financial advisers while Paul Hastings serves as its legal adviser on the transaction.
Teneo Capital and Kirkland & Ellis LLP respectively serve as financial and legal advisers to H.I.G.
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Global private equity firm H.I.G. Capital has agreed to acquire Reston, Virginia-based government information technology services provider NCI (Nasdaq: NCIT) for approximately $283 cash, or $20 per share.
