ManTech, the leading provider of innovative technologies and solutions for mission-critical national security programs, announced on Monday that the company has entered into a definitive agreement to be acquired by Carlyle in an all-cash transition worth approximately $4.2 billion.
“Following a comprehensive review of strategic alternatives, our Board determined that this transaction is in the best interest of our shareholders and provides them with the most compelling value maximization outcome, offering liquidity at a significant premium,” commented ManTech President and CEO Kevin Phillips, who is also a six-time Wash100 Award recipient.
R.W. Baird & Co. is serving as the financial advisor following ManTech’s board of directors who unanimously approved the transaction, which is expected to close in the second half of 2022.
The transaction will still be voted on by ManTech’s shareholders, who are expected to receive $96 per share in case, which represented a 32 percent premium to ManTech’s unaffected closing share price of $72.82 on February 2, 2022.
Dayne Baird, a Managing Director on Carlyle’s Aerospace & Government Services, explained that MacTech’s unwavering commitment in supporting national security customers, which will help Carlyle to leverage their combined portfolio to accelerate the company’s growth and innovation while also driving greater value for their shareholders, customers and employees.
“We look forward to leveraging Carlyle’s deep knowledge and experience investing in and growing companies, as we deliver stronger outcomes for our customers and increased opportunities for our employees,” Kevin Phillips added.
ManTech provides mission-focused technology solutions and services for U.S. defense, intelligence and federal civilian agencies. In business for more than 53 years, we excel in full-spectrum cyber, data collection & analytics, enterprise IT, systems engineering and software application development solutions that support national and homeland security.