KippsDeSanto & Co. Advises Zenetex, LLC on its sale to Vectrus, Inc.

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KippsDeSanto & Co. advises Zenetex, LLC on its sale to Vectrus, Inc.

KippsDeSanto & Co. is pleased to announce the sale of its client, Zenetex, LLC (“Zenetex” or the “Company”), to Vectrus, Inc. (“Vectrus”) (NYSE: VEC).

Headquartered in Herndon, VA, Zenetex provides mission-focused lifecycle military aviation and advanced engineering and information technology (“IT”) solutions for military and national security clients.

Zenetex primarily supports Naval Air Systems Command (“NAVAIR”), various other U.S. Department of Defense (“DoD”) and Intelligence Community (“IC”) customers, and various foreign militaries, with embedded positions on enduring programs of record and various classified defense programs. The Company has extensive expertise spanning integrated logistics, advanced engineering, IT, research, development, test, and evaluation (“RDT&E”), security services, and full-spectrum maintenance, repair & overhaul (“MRO”) services. Since 2008, Zenetex has grown to ~2,000 employees with more than $200 million in annual revenue and $700 million of contracted backlog.

The Zenetex acquisition is expected to accelerate Vectrus’ converged infrastructure strategy through the addition of critical new capabilities, including high-end integrated logistics and MRO support services. The transaction will also broaden Vectrus’ presence within NAVAIR and the IC and add new Foreign Military Sales customers.

We believe this transaction demonstrates several key trends in the government services mergers and acquisitions (“M&A”) market:

  • Strategic buyers are using M&A to accelerate organic growth strategies and add new capabilities and customers
  • Buyers continue to value prime, F&O contracts and backlog, along with infrastructure maturity and rapid growth
  • Despite the economic volatility created due to the COVID-19 pandemic, M&A demand remains strong for well-positioned companies

 About KippsDeSanto & Co.

KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency.

Press Release

Vectrus to Acquire Zenetex, Accelerating Converged Infrastructure Strategy and Further Expanding Intelligence and Foreign Military Client Portfolio

  • Secures Vectrus as a leader in the converged infrastructure market by expanding integrated capabilities in Logistics and Supply Chain, Security, Advanced Engineering, IT, and International Readiness Solutions
  • Expands Vectrus content at client installations, facilities, and bases with the addition of mission-critical support services for vital defense aviation programs
  • Broadens reach into the Intelligence Community and adds new Foreign Military Sales clients
  • Increases backlog by more than $700 million and provides a foundation for continued growth
  • Expected to be accretive to 2021 Adjusted Diluted EPS and Adjusted EBITDA margin

COLORADO SPRINGS, Colo., Dec. 28, 2020 – Vectrus, Inc. (NYSE: VEC) announced today that it has signed a definitive agreement to acquire Zenetex, a leading provider of technical and strategic solutions focused on enabling mission readiness, performance, and enhanced protection for defense and national security clients globally. The acquisition adds critical new capabilities which will accelerate Vectrus’ converged infrastructure strategy and expands the company’s client base with new DoD, intelligence and foreign military clients. The transaction is valued at approximately $112 million, net of $11 million of expected tax benefits.

“I am excited to welcome the Zenetex employees to Vectrus,” said Chuck Prow, president and chief executive officer of Vectrus. “This important acquisition significantly enhances our capabilities across a number of high priority clients and accelerates our strategy to deliver a more integrated and comprehensive suite of solutions to our clients globally. Zenetex broadens our reach into the Intelligence Community and expands our engineering and digital technology offerings, which is critical as we expand our capabilities to help our clients’ transition to a more instrumented and converged approach to supply chain and facility management.”

Strategic Benefits and Transaction Highlights:

  • Strengthens Position as Leading Fully-Integrated Provider in the Converged Infrastructure Market: Brings integrated security capabilities that provide systematic protection of physical assets, IP, and computer systems, which further builds on Vectrus’ integrated electronic security solutions that protect thousands of facilities and assets.
  • Adds Higher End Integrated Logistics: Brings people, skills, knowledge, equipment, tools, and technical data to establish, execute and maintain logistics policies, processes and procedures, which builds on Vectrus’ forward-deployed operational logistics capabilities.
  • Expands Operations and Maintenance Services to Increase Content and Scope at Client Installations: Provides mission-critical readiness services for legacy and next generation aircraft through full spectrum Maintenance, Repair & Overhaul services that include “backshop” operations, lab systems, and weapon subsystems, which increases Vectrus’ overall addressable market and content at client installations, facilities, and bases.
  • Expands Intelligence and Federal Client Footprint: Provides unique access to highly attractive Intelligence Community clients and advances the company’s Navy campaign to include Naval Air Systems Command and Naval Supply Systems Command.
  • Adds Foreign Military Sales (FMS) Clients and Expertise: The company’s FMS services supports more than 40 countries, including Qatar, Malaysia, Spain, Morocco, Kuwait, Denmark, Australia, Canada, and provides significant channels for future growth. The company’s legacy and experience related to FMS has resulted in a recent award to provide an International Readiness Operational Software Management System, a prototype to improve readiness initiatives, accelerate product delivery, and optimize the reliability of operational and aviation readiness for foreign partners abroad.
  • Strong Backlog and Growth Outlook: Zenetex is at the front end of significant new business awards with over $700 million in contract backlog that provides strong revenue visibility and a foundation for continued growth.

Forward-Looking Safe Harbor Statement

“Zenetex and Vectrus make an extremely powerful combination and I couldn’t be happier with this next step in our team’s journey,” said Mark Green, chairman and chief executive officer of Zenetex. “Our culture, mission, vision, and values are strongly aligned and founded on delivering successful service in support of our clients’ critical missions. The Zenetex capabilities, client access, and high performing teams complement the existing portfolio at Vectrus and will add additional value to both company’s clients while serving new markets with the combined power of our people.”

About Vectrus

Vectrus is a leading provider of global service solutions with a history in the services market that dates back more than 70 years. The company provides facility and base operations; supply chain and logistics services; information technology mission support; and engineering and digital technology services primarily to U.S. government customers around the world. Vectrus is differentiated by operational excellence, superior program performance, a history of long-term customer relationships and a strong commitment to its clients’ mission success. Vectrus is headquartered in Colorado Springs, Colo., and includes about 7,100 employees spanning 148 locations in 26 countries and territories. In 2019, Vectrus generated sales of $1.4 billion. For more information, visit the company’s website at www.vectrus.com or connect with Vectrus on Facebook, Twitter, and LinkedIn.

KippsDeSanto & Co. advises Tapestry Technologies, Inc. on its sale to ManTech International Corporation

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KippsDeSanto & Co. advises Tapestry Technologies, Inc. on its sale to ManTech International Corporation

KippsDeSanto & Co. is pleased to announce the sale of its client, Tapestry Technologies, Inc. (“Tapestry” or the “Company”) to ManTech International Corporation (“ManTech”) (Nasdaq: MANT).

Headquartered in Chambersburg, PA, Tapestry is a leading provider of comprehensive cybersecurity solutions to the U.S. Defense Information Systems Agency (“DISA”) and Department of Defense (“DoD”). Tapestry offers a wide array of highly innovative solutions spanning cybersecurity architecture, policy and compliance, network and systems engineering, workload automation, training, and cloud architecture services. With a 15+ year history supporting the DoD and DISA, Tapestry has developed a highly regarded reputation and an entrenched position within the agency as a trusted and reliable partner with deep domain expertise. The Company’s focus on innovation has led to the development of proprietary methodologies and tools which enable Tapestry to deliver highly profitable, yet cost-effective, workload automation solutions.

The transaction enhances and extends ManTech’s cyber defense capabilities within the DoD, adding customers and new past performance qualifications, as well as long-term contracts.

We believe this investment demonstrates several key trends in the current cybersecurity environment:

  • Cybersecurity capabilities continue to be a highly coveted growth and M&A area given the importance to IT Modernization efforts and increased budgetary focus
  • Significant demand for profitable, technology-centric, engineering solutions supported by proprietary tools and processes
  • Strong focus on companies that have embedded positions within sought-after federal customers, and strong competitive differentiators

 About KippsDeSanto & Co.

KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience.  We help market leaders realize their full strategic value.  Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships.  There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency. 

Press Release 

ManTech Acquires Tapestry Technologies to Expand Defensive Cyber Capabilities

HERNDON, Va., Dec. 14, 2020 (GLOBE NEWSWIRE) — ManTech International Corporation (Nasdaq: MANT) has completed the acquisition of Tapestry Technologies, a leading provider of advanced cyber solutions. Headquartered in Chambersburg, Pennsylvania, and founded in 2005, Tapestry Technologies offers a full range of cyber defense solutions and expertise, including cyber architecture and policy development, DevSecOps-based systems and software engineering and cyber training.

This acquisition enhances and extends ManTech’s cyber defense capabilities within the Department of Defense, adding customers, new past performance qualifications as well as mission-critical contracts. Furthermore, Tapestry Technologies’ approximately 150 highly skilled and cleared professionals expand ManTech’s deep cybersecurity talent base.

“ManTech has a well-established reputation as a leader of full-spectrum cyber capabilities,” said Kevin M. Phillips, ManTech Chairman, CEO and President. “We are pleased to add Tapestry Technologies’ talented people and strong customer relationships to the ManTech family. The addition is highly complementary and further builds upon our differentiated cyber solutions, allowing us to deliver more to our customers while positioning us for continued growth.”

About ManTech

ManTech International Corporation (Nasdaq: MANT) provides mission-focused technology solutions and services for U.S. defense, intelligence and federal civilian agencies. In business more than 50 years, we excel in full-spectrum cyber operations, data collection & analytics, enterprise IT, agile DevOps systems engineering and software application development solutions that support national and homeland security. Additional information about ManTech can be found at mantech.com.

Forward-Looking Information

Statements and assumptions made in this press release, which do not address historical facts, constitute “forward-looking” statements that ManTech believes to be within the definition in the Private Securities Litigation Reform Act of 1995 and involve risks and uncertainties, many of which are outside of our control. Words such as “may,” “will,” “expect,” “intend,” “anticipate,” “believe,” or “estimate,” or the negative of these terms or words of similar import, are intended to identify forward-looking statements.

 These forward-looking statements are inherently subject to risks and uncertainties, and actual results and outcomes may differ materially from the results and outcomes we anticipate. Factors that could cause actual results to differ materially from the results we anticipate include, but are not limited to, the following: failure to maintain our relationship with the U.S. government, or compete effectively for contract awards; inability to recruit and retain sufficient number of employees with specialized skill sets or necessary security clearances who are in great demand and limited supply; adverse changes in U.S. government spending for programs we support, whether due to changing mission priorities, socio-economic policies, cost reduction initiatives by our customers, or other federal budget constraints generally; disruption of our business or damage to our reputation resulting from security breaches in customer systems, internal systems (including as a result of cyber or other security threats), or employee misconduct; failure to realize the full amount of our backlog or adverse changes in the timing of receipt of revenues under contracts included in backlog; issues relating to competing effectively for awards procured through the competitive bidding process; failure to obtain option awards, task orders or funding under contracts; renegotiation, modification or termination of our contracts, or failure to perform in conformity with contract terms or our expectations; failure to successfully integrate acquired companies or businesses into our operations or to realize any accretive or synergistic effects from such acquisitions; non-compliance with, or adverse changes in, complex U.S. government laws, procurement regulations or processes; and adverse results of U.S. government audits or other investigations of our government contracts. These and other risk factors are more fully discussed in the section entitled “Risk Factors” in ManTech’s Annual Report on Form 10-K previously filed with the Securities and Exchange Commission on Feb. 21, 2020, Item 1A of Part II of our Quarterly Reports on Form 10-Q, and, from time to time, in ManTech’s other filings with the Securities and Exchange Commission.

 The forward-looking statements included herein are only made as of the date of this press release, and ManTech undertakes no obligation to publicly update any of the forward-looking statements made herein, whether as a result of new information, subsequent events or circumstances, changes in expectations or otherwise.

Media Contact

Jim Crawford

Executive Director, External Communications

(M) 571.446.7550

James.Crawford2@ManTech.com

 

Investor Relations Contact

Stephen Vather

VP, M&A and Investor Relations

(O) 703.218.6093
Stephen.Vather@ManTech.com

KippsDeSanto & Co. Advises Titania Solutions Group, Inc. on its Sale to Swish Data Corporation

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KippsDeSanto & Co. Advises Titania Solutions Group, Inc. on its Sale to Swish Data Corporation

 KippsDeSanto & Co. is pleased to announce the sale of Titania Solutions Group, Inc. (“Titania” or the “Company”) to Swish Data Corporation.

Headquartered in Warrenton, VA, Titania has served as a leading provider of enterprise solutions, program management, information technology, and systems integration services for over eight years to high-profile Federal customers within the US Army, US Navy, Centers for Medicare & Medicaid Services (“CMS”), Federal Aviation Administration (“FAA”), and National Institutes of Health (“NIH”), amongst others.  The Company has positioned itself as a leading technology partner with established customer relationships, strong technical talent, and differentiated market knowledge serving as a trusted partner for its customers.  The Company boasts a substantial legacy providing mission-oriented military intelligence training on several substantial programs; thought leadership associated with rapidly evolving rules, policy, and laws related to public and civil operation of unmanned aircraft systems (“UAS”); and technical knowledge in critical applications of DevSecOps and Agile methodologies for government healthcare organizations.  Titania’s core capabilities and solutions are focused in the areas of cybersecurity, enterprise solutions, test and evaluation, program management support and data management, operational intelligence and training, healthcare information technology, and information technology governance, in each case with a unique perspective on delivering market-informed insights to key decision makers.

Titania’s impressive suite of engineering services capabilities is delivered by a team of subject matter experts with proven experience in uniform, government service, and leading engineering organizations.  This unique multi-faceted perspective and skillset is leveraged for the sole purpose of delivering excellent support to clients with complex and evolving challenges, often at the forefront of long-term market opportunities.  Combined with a robust portfolio of relevant contract vehicles, including SPARC, CIO SP3, eFAST, MOBIS, and SeaPort NxG, the Company is strongly positioned to continue its growth trajectory as part of its new partnership with Swish Data Corporation.

We believe this transaction demonstrates several key trends in the government technology M&A environment:

  • Continued demand for thought leadership and subject matter expertise in the areas of enterprise solutions, engineering expertise, and program management to solve complex and long-term challenges for mission-critical programs within federal agencies
  • Buyer interest in acquiring organizations with a strong pedigree and deep domain knowledge in specialized areas of expertise supporting long-term and highly-visible programs
  • Buyer focus on strategic alignment with high-priority, forward-looking, and enduring mission areas (e.g., UAS policy and implementation within the FAA)

About KippsDeSanto & Co.  KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies.  We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience.  We help market leaders realize their full strategic value.  Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships.  There’s no substitute for experience.   For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency. 

Press Release

Swish Data Acquires Titania Solutions Group, Inc.

December 1, 2020

Expanding Swish’s capabilities into DevSecOps, the Intelligence Community and Unmanned Aerial Vehicles

MCLEAN, Va. – Today, Swish Data Corporation (Swish), a provider of technology solutions and engineering services, announced that the company has acquired Titania Solutions Group, Inc. (Titania) as part of an on-going five-year growth and expansion strategy.

Titania is a successful professional services firm with over 100 employees performing mission-critical services for the U.S. Army, FAA, HHS, DISA and other federal organizations. The acquisition of Titania expands Swish’s expertise to include DevSecOps services, intelligence training and operations, and drone and counter-drone activities within the public sector market. This acquisition also brings important technology capabilities, contract vehicles, and valuable customer relationships that further diversify Swish’s government contractor business.

During 2020, Swish continued its impressive organic growth, augmented by the acquisition of MAD Security LLC in 2019, and now by the acquisition of Titania. “This acquisition further diversifies Swish’s market reach and capabilities, with a company that has a proven track record of success and superior performance,” stated Monty Deel, chief executive officer for Swish.

Jodi Johnson, founder and former chief executive officer for Titania, commented, “I could not be more proud of the company we have built and I’m very happy to find a like-minded company in Swish that will continue to nurture our employees and create opportunities to excel, all the while providing valuable, mission-critical services to our country.”

Titania will be operated as an independent business subsidiary of Swish. John Hibbert, the previous chief operating officer for Titania, will serve as general manager. “It’s an honor to be joining forces with Swish,” John stated. “The combined team has substantially greater capabilities than either company has alone and will result in a compelling value proposition for our employees, customers, and partners. This is an exciting time for Titania.”

About Swish Data

Swish is a Service-Disabled Veteran-Owned and HUBZone-certified Small Business provider of technology solutions and engineering services to the U.S. Federal Government with a focus on high-quality outcomes for our clients. Our experienced and certified engineers research and evaluate the most innovative approaches to solving mission problems and developing full life cycle solution offerings to ensure our clients realize maximum operational value. Swish carries a Top Security facility clearance, and the cleared staff are skilled at delivering high-performance solutions and services. Swish ensures your digital service capabilities, performance and security exceed your expectations and requirements. www.swishdata.com.

Media Contact:
​Sherryl Dorch
​Phone:  703-407-4696
Email:  sdorch@swishdata.com

KippsDeSanto & Co. advises BlueWater Federal Solutions, Inc., on its sale to Tetra Tech, Inc.

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KippsDeSanto & Co. advises BlueWater Federal Solutions, Inc., on its sale to Tetra Tech, Inc.

KippsDeSanto & Co. is pleased to announce the sale of its client, BlueWater Federal Solutions, Inc. (“BlueWater” or the “Company”) to Tetra Tech, Inc. (“Tetra Tech”).

Headquartered in Chantilly, Virginia, BlueWater provides cybersecurity, information technology, systems / network engineering, and program management services to numerous agencies throughout the Federal Government, including the Federal Emergency Management Agency, Department of Energy, and Department of Defense.

BlueWater provides these clients with a variety of high-end IT and mission-oriented services, systems, and solutions that are essential to these agencies’ operations. Over the past decade, the Company’s leadership team and workforce of highly skilled / certified employees have led BlueWater to achieve considerable growth. This growth has been supported by the Company’s ability to understand and address mission challenges while continuing to leverage its technical expertise as a means of expanding its customer footprint.

BlueWater provides Tetra Tech with significant past performance throughout the Federal Government, and is expected to drive continued success by way of leveraging Tetra Tech’s expansive portfolio of contract vehicles and customer reach. BlueWater represents Tetra Tech’s second acquisition of 2020.

We believe this transaction demonstrates several key trends in the government technology M&A market:

  • Acquisition priority for companies with high-end technology and analytics capabilities, in addition to well funded DoD-oriented footprint
  • Buyers – public company and private equity firms alike – continue to deploy capital via M&A for well-positioned companies, notwithstanding COVID-19 and broader market turbulence
  • Strong company fundamentals in terms of prime contracts, scale, performance, and a track-record of growth drive M&A interest and value

 About KippsDeSanto & Co.

KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency.

Press Release

Tetra Tech Acquires BlueWater Federal Solutions to Broaden High-End Technology Service Offerings

09/29/2020

PASADENA, Calif.–(BUSINESS WIRE)– Tetra Tech, Inc. (NASDAQ: TTEK), a high-end consulting and engineering firm, announced today that it has further expanded its advanced analytics business with the addition of BlueWater Federal Solutions, Inc. (BlueWater), a leading information technology systems and services firm. Based in Chantilly, Virginia, BlueWater has built a high-performing team of more than 350 employees who bring specialized expertise in cybersecurity, mission-critical systems design, and development and operation of federal enterprise systems for U.S. government clients, including the Federal Emergency Management Agency, Department of Energy, and Department of Defense.

“Our ability to integrate high-end technology and analytics in the delivery of customized water, environment, and sustainable infrastructure solutions is a key differentiator for Tetra Tech in the marketplace today,” said Dan Batrack, Tetra Tech Chairman and CEO. “The addition of BlueWater builds on our strategy to grow our advanced analytics business with expanded capabilities in artificial intelligence, cybersecurity solutions, and mission-essential services for our U.S. federal customers.”

Brian Nault, BlueWater President, said, “Our team is thrilled to join Tetra Tech and work together to expand our capabilities and solutions that solve our clients’ most complex problems. By joining with Tetra Tech, BlueWater creates tremendous opportunities for our employees, expands our reach in the federal market through access to key contract vehicles, and increases the technical capacity and access to resources needed for us to deliver on our customers’ new and changing requirements.”

The terms of the acquisition were not disclosed. BlueWater is joining Tetra Tech’s Government Services Group.

About BlueWater Federal Solutions, Inc.

BlueWater is a leading mission support services provider of Enterprise IT solutions, cybersecurity, engineering, global command and control, and applications development. BlueWater, based in Chantilly, Virginia delivers full lifecycle solutions and modernization for U.S. federal agencies, including the Department of Defense and Intelligence.

About Tetra Tech

Tetra Tech is a leading provider of high-end consulting and engineering services for projects worldwide. With 20,000 associates working together, Tetra Tech provides clear solutions to complex problems in water, environment, infrastructure, resource management, energy, and international development. We are Leading with Science® to provide sustainable and resilient solutions for our clients. For more information about Tetra Tech, please visit tetratech.com, follow us on Twitter (@TetraTech), or like us on Facebook.

Any statements made in this release that are not based on historical fact are forward-looking statements. Any forward-looking statements made in this release represent management’s best judgment as to what may occur in the future. However, Tetra Tech’s actual outcome and results are not guaranteed and are subject to certain risks, uncertainties and assumptions (“Future Factors”), and may differ materially from what is expressed. For a description of Future Factors that could cause actual results to differ materially from such forward-looking statements, see the discussion under the section “Risk Factors” included in the Company’s Form 10-K and 10-Q filings with the Securities and Exchange Commission.

View source version on businesswire.com: https://www.businesswire.com/news/home/20200929005255/en/

Jim Wu, Investor Relations
Charlie MacPherson, Media & Public Relations
(626) 470-2844

Source: Tetra Tech, Inc.

KippsDeSanto & Co. Advises Irving Burton Associates on its sale to DLH Corp

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KippsDeSanto & Co. Advises Irving Burton Associates on its sale to DLH Corp

KippsDeSanto & Co. is pleased to announce the sale of its client, Irving Burton Associates (“IBA” or the “Company”), to DLH Holdings Corp. (NASDAQ: DLHC) (“DLH”).
Founded in 1979 and based in Falls Church, VA, IBA is a leading provider of innovative healthcare research, services and solutions to the Defense Health Agency (“DHA”), the Telemedicine & Advanced Technology Research Center (“TATRC”) of the US Army’s Medical Research and Development Command (“USAMRDC”), and other health-focused agencies within the U.S. Department of Defense (“DoD”). IBA maintains a top-secret facility clearance, and its defense contracts provide for a range of health IT services including digital transformation, data analytics, cybersecurity, and artificial intelligence (“AI”).

We believe this transaction illustrates various trends in the government technology M&A environment:

  • Strong strategic buyer interest in well-positioned, targets providing high priority support to health-related Federal customers
  • Demand for companies with embedded positions and long-term relationships on key programs within well-funded customers
  • Buyers continue to place emphasis on targets with larger, prime, full and open contracts

 About KippsDeSanto & Co.

KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency.

Press Release

DLH Acquires IBA to Bolster its DoD Health Technology Capabilities

Atlanta, Georgia – October 1, 2020

DLH Holdings Corp. (NASDAQ: DLHC) (“DLH” or the “Company”), a leading provider of innovative healthcare research, services and solutions to the federal government, today announced that it has acquired privately-held Irving Burton Associates, LLC (“IBA”) of Falls Church, Virginia. The firm, with approximately 115 employees, provides research, systems development, and other technology-enabled solutions to the Defense Health Agency (“DHA”), the Telemedicine & Advanced Technology Research Center (“TATRC”) of the US Army’s Medical Research and Development Command (“USAMRDC”), and other agencies within the U.S. Department of Defense (“DoD”). IBA maintains a top-secret facility clearance, and its defense contracts provide for a range of health IT services including digital transformation, data analytics, cybersecurity, and artificial intelligence (“AI”).

IBA was purchased for $32.0 million in cash, or $26.5 million net of transaction-related tax benefits worth approximately $5.5 million on a net present value basis. DLH estimates that IBA will contribute annualized revenue of approximately $25 million to the Company going forward, and the firm’s backlog was approximately $143 million at closing. IBA will be a wholly owned subsidiary of DLH Holdings Corp. and a part of DLH’s Mission Services & Solutions operating unit led by Helene Fisher (former US Army Signal Corps). IBA’s current president, Mary Dowdall, will remain with DLH in leadership of the IBA organization.

“IBA complements our capabilities and enhances our readiness profile for military and other agency business through research, analytics, and advancing technologies,” said Zachary Parker, DLH President & CEO. “For several decades IBA has leveraged its expertise in program management, research and engineering, and health data analytics to expand its business in support of agencies in the Military Health System (MHS). We are confident that IBA will strengthen our growth outlook and bring new opportunities in technology-enabled healthcare solutions. I am proud to have IBA join the DLH family of operations.”

“We believe that DLH is an ideal partner for IBA, from both a business and cultural perspective” added Mary Dowdall, President of Irving Burton Associates. “Our employees will appreciate and embrace the collective spirit, shared objectives, and expanding opportunities that our combined organization will bring. We look forward to aligning our mutual commitment and mission-driven focus to deliver technology-enabled services to federal government agencies.”

DLH financed the acquisition through an amendment to its existing secured credit facility. Borrowing availability was provided by debt prepayments facilitated by the Company’s ongoing cash generation. First National Bank of Pennsylvania acted as agent, and F.N.B. Capital Markets and M&T Bank acted as joint lead arrangers. The credit facility was comprised of a syndicated term loan of $70 million and revolving credit facility of $25 million. All bank members of the syndicated credit facility committed funding to their original loan amounts. Additional terms of the transaction and financing arrangements will be available in the Company’s SEC filings.

KippsDeSanto & Co. Advises Enterprise Information Services, LLC on its sale to Cognosante, LLC

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KippsDeSanto & Co. Advises Enterprise Information Services, LLC on its sale to Cognosante, LLC

KippsDeSanto & Co. is pleased to announce the sale of its client, Enterprise Information Services, LLC (“EIS” or the “Company”), to Cognosante, LLC (“Cognosante”).

Founded in 1994 and based in Vienna, VA, EIS provides cybersecurity, biometrics, application development, cloud migration, and other IT services to various U.S. Federal Defense, Intelligence, and Civilian government agencies.

In addition to its in-demand services offering, EIS has amassed prime positions on numerous high-profile full-and-open contract vehicles, including Alliant II, Army RS3, and ITES-3S.

We believe this transaction illustrates various trends in the government technology M&A environment:

  • Despite COVID-19 related market impacts, M&A deals continue to transpire between well positioned buyers and sellers
  • Full and open, prime contract positions, particularly on Best-in-Class and other in-demand vehicles, such as Alliant II, RS3, and ITES-3S, remain strong M&A drivers
  • Buyers continue to place importance on targets with prime, full and open contracts and embedded positioning within well-funded Defense and Intelligence customers

 About KippsDeSanto & Co.

KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience.  We help market leaders realize their full strategic value.  Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships.  There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency.

Press Release

EIS is Now a Cognosante Company

Vienna, VA – May 18, 2020

Enterprise Information Services, LLC (EIS), an IT solutions company, today announced that it has been acquired by Cognosante.

Since 1994, EIS has provided cybersecurity, biometrics, application development, cloud migration, IT operations, network engineering and program management support to a host of federal government agencies including Defense, the Intelligence Community, Homeland Security, Energy, Commerce, Labor, State, and the United States Postal Service.

“This is an exciting time for both EIS and Cognosante. We are proud of the company and reputation we have built since 1994 and Cognosante is the ideal company to propel EIS to the next level. We share the same commitment in continuing to provide the high-quality customer experience to our clients and an engaging culture for our talented employees,” said Vinod Goyal, President of EIS.

“EIS is a highly respected, well-positioned business providing comprehensive, technology services to its customers.  The addition of EIS is part of Cognosante’s growth strategy that will continue to bring new and enhanced capabilities to our existing customers while entering new customer segments,” said Michele Kang, Founder and Chief Executive Officer of Cognosante.

Effective immediately, EIS becomes a wholly owned subsidiary of Cognosante. EIS founder and CEO, Vinod Goyal will report directly to Cognosante CEO, Michele Kang. To ensure minimal disruption to customers and employees, the EIS name will remain and all EIS leadership will continue to lead daily operations. KippsDeSanto acted as the exclusive financial advisor to EIS as part of this transaction.

 

KippsDeSanto & Co. Advised QuantiTech LLC on its investment by Sagewind Capital LLC

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KippsDeSanto & Co. advised QuantiTech LLC on its investment by Sagewind Capital LLC

KippsDeSanto & Co. is pleased to announce that our client, QuantiTech LLC (“QuantiTech” or the “Company”) has received a strategic investment by Sagewind Capital LLC.

Headquartered in Huntsville, Alabama, QuantiTech has served as a leading provider of highly technical engineering and management support services for vital mission-critical programs for nearly 30 years, primarily for the Department of Defense (“DoD”).  The Company serves as a trusted partner for key defense agencies responsible for maintaining technological superiority and warfighter dominance through the delivery of detailed studies, risk analyses, internally developed tools and frameworks, and thought leadership to solve complex and continuously evolving mission requirements.  QuantiTech’s core capabilities are focused on systems engineering, cybersecurity, test and evaluation, and program management for innovative priority spending areas, including hypersonics, counter-unmanned aircraft systems, and human spaceflight for the Army, Air Force, NASA, and various other defense agencies.

The Company’s suite of advanced capabilities is supported by a highly talented team of engineers and subject matter experts who possess deep domain knowledge and diverse real-world experience across myriad engineering disciplines.  Dedication to protecting national security interests coupled with a focus on delivering exceptional customer satisfaction have translated into exceptional growth across the Company.  QuantiTech boasts the ability to integrate large programs, with the maturity and vision to support continued growth and performance.

We believe this transaction demonstrates several key trends in the defense and government technology M&A environment:

  • Strong demand for advanced, engineering solutions and subject matter expertise designed to solve complex challenges for large scale and mission-critical programs across well-funded DoD and national security customers
  • Buyer focus on strategic alignment with high-priority, forward-looking, and well-funded mission areas such as space, hypersonics, and unmanned aircraft systems
  • Financial sponsors continue to deploy capital and compete with strategics in the defense and government services markets for coveted assets with long-term contracts, robust backlog, experienced management teams, and strategic footprints in growing markets as new platforms in the market

 About KippsDeSanto & Co.

KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency.

Press Release

Sagewind Capital Invests in QuantiTech

NEW YORK, July 8, 2020 /PRNewswire/ — Sagewind Capital LLC (“Sagewind”), a New York-based private equity firm, announced today an investment in QuantiTech LLC (“QuantiTech” or “The Company”), a leading provider of highly technical engineering services to the Army, Air Force, NASA and various other key defense agencies. QuantiTech’s capabilities supporting hypersonics, counter unmanned aircraft systems and human spaceflight include systems engineering, cybersecurity, test & evaluation, and program management. Financial terms of the transaction were not disclosed.

“We are very excited to partner with the QuantiTech team,” said Steven Lefkowitz, Managing Partner of Sagewind. “QuantiTech’s founder, Sheila Brown, and Chairman, Randy Cash, have built a reputation for excellence and established the Company as an essential partner for our nation’s defense community. QuantiTech has highly educated and talented personnel who are passionate about missions critical to our national security. We are very impressed with the business the QuantiTech team has built and look forward to supporting them as they execute on their growth strategies.”

The management team of QuantiTech will continue with the company and will retain a significant equity ownership.

Darryl Wortman, President and CEO of QuantiTech said, “Sagewind is an ideal partner for us that has a strong track record of supporting government services companies. They have backed many management teams to help grow their businesses through acquisitions and other growth initiatives, which is exactly what we need as we strive to better support our customers’ critical missions by providing a broader set of capabilities.”

Mr. Cash, the former CEO of QuantiTech and a former Vice President in various roles at SAIC, will continue as Chairman of the Board of Directors. As part of the transaction, industry veterans Deborah Dunie, Dr. Paul G. Kaminski and General Paul Kern, US Army (Ret) will join the QuantiTech Board of Directors. Ms. Dunie brings over 30 years of senior level business experience in government services, most recently as the former CTO of CACI and a former Director of SAIC. Dr. Kaminski served as the Undersecretary of Defense for acquisition and technology from 1994 to 1997, has chaired and served on several company and government advisory boards, and was twice Chairman of the Defense Science Board, of which he is still a member. General Kern retired after almost 38 years with the US Army as the Commanding General of the Army Materiel Command and is currently a member of the Defense Science Board and a Senior Counselor at The Cohen Group.

Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as Sagewind’s legal counsel. Maynard Cooper & Gale served as legal counsel to QuantiTech. KippsDeSanto acted as the exclusive financial advisor to QuantiTech.

About QuantiTech LLC

QuantiTech is a leading provider of highly technical engineering and management support services for the federal government, based in Huntsville, AL. It serves mission critical programs, primarily to key defense agencies responsible for maintaining technological superiority and warfighter dominance. QuantiTech’s capabilities are focused on systems engineering, cybersecurity, test & evaluation and program management for key defense end-markets such as hypersonics, counter unmanned aircraft systems and human spaceflight for the Army, Air Force, NASA and various other defense agencies.

About Sagewind Capital LLC

Sagewind Capital LLC is a New York-based middle-market private equity firm. Sagewind seeks to partner with exceptional management teams and focuses on significant capital appreciation by helping businesses grow organically and through strategic acquisitions. Since inception, Sagewind has made eight investments across several industries, including government services, aerospace & defense, software, information technology, healthcare and business services. The firm is focused on long-term capital appreciation and has the flexibility to own businesses for extended periods. For more information please visit www.sagewindcapital.com.

KippsDeSanto & Co. advises InCadence Strategic Solutions on its sale to Xator Corporation

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KippsDeSanto & Co. advises InCadence Strategic Solutions on its sale to Xator Corporation

KippsDeSanto & Co. is pleased to announce the sale of its client, InCadence Strategic Solutions (“InCadence” or the “Company”), to Xator Corporation (“Xator”).

Established in 2009 and headquartered in Manassas, Virginia, InCadence provides customers with cutting-edge biometrics / identity management, intelligence operations, information management / data solutions, and tactical communications products, tools, and technology enabled solutions.  The Company’s customer base spans across various military, intelligence, and law enforcement agencies supporting state-of-the-art platforms, robust information exchange systems, engineering, and subject matter expertise for numerous mission needs.

This transaction reinforces Xator’s position as a customer-first organization with a proven record of exceptional performance in providing C4ISR, national security, and intelligence solutions to its U.S. Government partners.

We believe this transaction highlights several key trends in the current government services M&A market:

  • Despite market turbulence, M&A deals are still being completed between experienced industry buyers and well-positioned, highly coveted targets;
  • Heightened demand exists for firms with highly differentiated solutions that leverage unique proprietary tools and technologies; and
  • Buyers placing significant importance on targets with deep and tenured past performance across sought after and well-funded DoD, intelligence, and law enforcement customers

About KippsDeSanto & Co. KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency.

Press Release

Xator Corporation Acquires InCadence Strategic Solutions

April 30, 2020 – Today, Xator Corporation has completed its acquisition of InCadence Strategic Solutions Corp, a Northern Virginia-based provider of cutting-edge technical products, intelligence support, and high-end engineering services to government and commercial clients. Founded in 2009, InCadence is a leader in biometrics and identity management, big data solutions, tactical communications, and operational intelligence.

“InCadence’s proven ability to leverage its deep domain experience, differentiated by its software and hardware, into customer-focused solutions will catalyze growth opportunities when joined with Xator,” said David Scott, Xator’s CEO. “Xator’s acquisition of InCadence represents a very exciting combination of technical expertise and intellectual property, which will continue to serve our complementary client sets for years to come.”

“InCadence is thrilled to be joining the Xator family,” said Sandy Corbett, Chairman and CEO of InCadence. “As I have come to know David Scott and Xator, it is clear that our strong cultural fit, complementary capabilities, and client focus will result in a compelling value proposition for our employees, customers and partners alike. I look forward to seeing the tremendous growth and innovation opportunities that lie ahead for our combined entity!”

This transaction reinforces Xator’s position as a leading provider of C4ISR, national security, and intelligence solutions to its U.S. Government partners.

KippsDeSanto & Co. Advises TeraThink on its Sale to CGI, Inc

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KippsDeSanto & Co. Advises TeraThink on its Sale to CGI, Inc 

 KippsDeSanto & Co. is pleased to announce the sale of its client, TeraThink Corporation  (“TeraThink” or the “Company”), to CGI, Inc. (“CGI”).

Headquartered in Reston, VA, TeraThink is a purpose-built digital transformation, ERP implementation, and technology solutions provider specializing in automation, agile development, enterprise application technologies, data analytics, optimization, and cloud computing.  TeraThink delivers digital transformations by modernizing and integrating mainstream IT and deploying digital solutions at scale to produce better business outcomes for federal civilian, national security, and defense customers. The Company merged with Dominion Consulting in November 2017.

This acquisition strengthens CGI Federal’s position as an end-to-end enterprise application services provider with the additional management consulting and digital transformation capabilities that TeraThink brings to the table.

We believe this acquisition demonstrates several key trends in the government services market:

  • Strong demand for technology-driven, next-generation IT service companies;
  • Importance of a full and open contract profile with visible backlog;
  • Focus on high-growth businesses with proven scale, relevant past performance, and sustainable, recurring revenue and profitability; and
  • Significant value attributed to deeply-embedded customer relationships and market know-how

 About KippsDeSanto & Co. KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies. We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience. We help market leaders realize their full strategic value. Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships. There’s no substitute for experience.  For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency.

Press Release

CGI to Acquire TeraThink
Expands end-to-end enterprise application services for federal clients.

March 25, 2020

Fairfax, Virginia – CGI (NYSE: GIB) (TSX: GIB.A) announced its intent to acquire TeraThink, a leading information technology and management consulting firm providing digitization, enterprise finance,  risk management, and data analytics services to the U.S. federal government. The two companies signed an agreement to proceed with the transaction, which is expected to close by the end of March.

This merger will strengthen CGI Federal’s consulting expertise, and expand its enterprise application development and management services. Combining TeraThink’s agile enablement, application development, and data analytics capabilities with CGI’s Federal’s breadth of IT services will enhance offerings available to federal agencies. This merger will significantly increase the scale of enterprise applications support CGI Federal provides to all three branches of government.

“TeraThink and its approximately 250 professionals have made significant contributions for their federal government clients,” said George D. Schindler, President and Chief Executive Officer. “Through combined portfolios, we strengthen our capabilities and broaden our offerings to meet the growing digitization needs of federal agencies.”

“TeraThink and CGI Federal share a culture of delivering quality services, addressing evolving needs in partnership with our clients, and maintaining a track record of high client satisfaction and longevity,” said Tim Hurlebaus, President CGI Federal. “We look forward to welcoming the TeraThink members to the CGI team.”

About CGI Federal

CGI Federal Inc. is a wholly-owned U.S. operating subsidiary of CGI Inc., dedicated to partnering with federal agencies to provide solutions for defense, civilian, healthcare and intelligence missions. Founded in 1976, CGI is among the largest independent IT and business consulting services firms in the world. With 77,500 consultants and other professionals across the globe, CGI delivers an end-to-end portfolio of capabilities, from strategic IT and business consulting to systems integration, managed IT and business process services and intellectual property solutions. CGI works with clients through a local relationship model complemented by a global delivery network that helps clients digitally transform their organizations and accelerate results. With Fiscal 2019 reported revenue of C$12.1 billion, CGI shares are listed on the TSX (GIB.A) and the NYSE (GIB). Learn more at www.cgi.com.

Forward-looking information and statements

This press release contains “forward-looking information” within the meaning of Canadian securities laws and “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995 and other applicable United States safe harbors. All such forward-looking information and statements are made and disclosed in reliance upon the safe harbor provisions of applicable Canadian and United States securities laws. Forward-looking information and statements include all information and statements regarding CGI’s intentions, plans, expectations, beliefs, objectives, future performance, and strategy, as well as any other information or statements that relate to future events or circumstances and which do not directly and exclusively relate to historical facts. Forward-looking information and statements often but not always use words such as “believe”, “estimate”, “expect”, “intend”, “anticipate”, “foresee”, “plan”, “predict”, “project”, “aim”, “seek”, “strive”, “potential”, “continue”, “target”, “may”, “might”, “could”, “should”, and similar expressions and variations thereof. These information and statements are based on our perception of historic trends, current conditions and expected future developments, as well as other assumptions, both general and specific, that we believe are appropriate in the circumstances. Such information and statements are, however, by their very nature, subject to inherent risks and uncertainties, of which many are beyond the control of CGI, and which give rise to the possibility that actual results could differ materially from our expectations expressed in, or implied by, such forward-looking information or forward-looking statements. These risks and uncertainties include but are not restricted to: risks related to the market such as the level of business activity of our clients, which is affected by economic conditions, and our ability to negotiate new contracts; risks related to our industry such as competition and our ability to attract and retain qualified employees, to develop and expand our services, to penetrate new markets, and to protect our intellectual property rights; risks related to our business such as risks associated with our growth strategy, including the integration of new operations, financial and operational risks inherent in worldwide operations, foreign exchange risks, income tax laws, our ability to negotiate favorable contractual terms, to deliver our services and to collect receivables, and the reputational and financial risks attendant to cybersecurity breaches and other incidents; as well as other risks identified or incorporated by reference in this press release, in CGI’s annual and quarterly MD&A and in other documents that we make public, including our filings with the Canadian Securities Administrators (on SEDAR at www.sedar.com) and the U.S. Securities and Exchange Commission (on EDGAR at www.sec.gov). Unless otherwise stated, the forward-looking information and statements contained in this press release are made as of the date hereof and CGI disclaims any intention or obligation to publicly update or revise any forward-looking information or forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law. While we believe that our assumptions on which these forward-looking information and forward-looking statements are based were reasonable as at the date of this press release, readers are cautioned not to place undue reliance on these forward-looking information or statements. Furthermore, readers are reminded that forward-looking information and statements are presented for the sole purpose of assisting investors and others in understanding our objectives, strategic priorities and business outlook as well as our anticipated operating environment. Readers are cautioned that such information may not be appropriate for other purposes. Further information on the risks that could cause our actual results to differ significantly from our current expectations may be found in the section titled “Risk Environment” of CGI’s annual and quarterly MD&A, which is incorporated by reference in this cautionary statement. We also caution readers that the above-mentioned risks and the risks disclosed in CGI’s annual and quarterly MD&A and other documents and filings are not the only ones that could affect us. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial could also have a material adverse effect on our financial position, financial performance, cash flows, business or reputation.

For more information:

Investors

Lorne Gorber

Executive Vice-President, Investor and Public Relations

lorne.gorber@cgi.com

+1 514-841-3355

Media

Jennifer Horowitz

Vice-President, Marketing & Communications

jennifer.horowitz@cgi.com

+1 202-807-9558

KippsDeSanto & Co. Advises Continental Mapping Consultants, Inc. on its investment by Bluestone Investment Partners

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KippsDeSanto & Co. Advises Continental Mapping Consultants, Inc. on its investment by Bluestone Investment Partners

KippsDeSanto & Co. is pleased to announce that Continental Mapping Consultants, Inc. (“Continental” or the “Company”) has received an investment by Bluestone Investment Partners.

Founded in 1999 and headquartered in Sun Prairie, Wisconsin, Continental is a rapidly growing geospatial data analytics and mapping solutions provider to defense, intelligence, federal and state government agencies, and commercial customers. The Company combines remote sensing technologies, proprietary technology, automation tools, commercial cloud services, and artificial intelligence capabilities to deliver products and solutions to its clients.  The Company’s geospatial expertise has evolved to allow for the integration and mission application of vast amounts of data from an ever-increasing number of sensors across all markets.  Continental fuses professional talent and technology (proprietary and commercial off-the-shelf) to curate, consolidate, validate, and disseminate geospatial solutions.  The Company maintains over 100 active production improvement tools, utilizes advanced artificial intelligence capabilities, and employs 165 highly credentialed professionals.  This deal closed on March 2, 2020.

At that date, we believe this investment demonstrated several key trends in the defense, and government and commercial technology M&A environment:

  • Strong market demand existed for growth oriented, intelligence, and national security focused mid-market companies.
  • Private equity continued to deploy capital for new platforms in the government technology market, especially in attractive markets for consolidation and value creation through scale.
  • Strategic buyers and investors recognized the value of highly differentiated solutions that leverage proprietary tools and technologies.

About KippsDeSanto & Co.  KippsDeSanto & Co. is an investment banking firm focused on serving growth-oriented Aerospace / Defense, Government Services and Technology companies.  We are focused on delivering exceptional M&A and Financing transaction results to our clients via leveraging our scale, creativity and industry experience.  We help market leaders realize their full strategic value.  Having advised on over 100 industry transactions, KippsDeSanto is recognized for our analytical rigor, market insight, and broad industry relationships.  There’s no substitute for experience.   For more information, visit www.kippsdesanto.com.

Investment Banking products and services are offered through KippsDeSanto & Co., a non-bank subsidiary of Capital One, N.A., a wholly-owned subsidiary of Capital One Financial Corporation, and a member of FINRA and SIPC. Products and services are Not FDIC insured, Not Bank Guaranteed, May Lose Value, Not a Deposit, and Not Insured by Any Federal Government Agency. 

Press Release

Continental Mapping marks Bluestone’s seventh investment in the Defense, Government, and National Security Market

MCLEAN, Va., March 10, 2020 /PRNewswire/ — Bluestone Investment Partners, LLC (“Bluestone”), a McLean, Virginia-based private equity firm, is pleased to announce the completion of an investment in Continental Mapping Consultants, LLC (“Continental Mapping” or the “Company”). Based in Sun Prairie, Wisconsin, Continental Mapping is a rapidly growing geospatial data analytics and mapping solutions provider to Defense, intelligence, federal and state government agencies, and commercial customers. The Company combines remote sensing technologies, proprietary technology, automation tools, commercial cloud services, and artificial intelligence capabilities to deliver products and solutions to its clients.

John Allen, co-founder and Managing Partner of Bluestone said, “We are excited about our partnership with Continental Mapping. The Company has a 20-year track record of successful delivery of complicated solutions, a great leadership team, a talented and technically differentiated workforce, and attractive clients. We look forward to helping the Company accelerate its growth and expand its capabilities.”

“Our management team and 170 employees are energized about the next phase of growth for Continental Mapping. We look forward to leveraging the experience of Bluestone’s principals to build our business through organic expansion and acquisitions,” said Dave Hart, Chief Executive Officer of Continental Mapping.

Founded in 1999 by Chris Gross, President, and Dave Hart, Chief Executive Officer, Continental Mapping initially provided photogrammetric solutions to local clients in Wisconsin. Through investment in people, technologies, and capabilities, the Company grew to support operations for multiple government and commercial clients around the world. Today, the company maintains over 125 active production improvement tools, utilizes advanced artificial intelligence capabilities, and employs a highly credentialed employee base in Sun Prairie, St. Louis, MO, San Antonio, TX, and Northern Virginia.

Holland and Knight LLP acted as Bluestone’s legal adviser in the transaction. Dixon Hughes Goodman LLP provided quality of earnings services for Bluestone. Morrison and Foerster LLP served as legal adviser to Continental Mapping. KippsDeSanto & Co. served as the investment banking adviser to Continental Mapping. Senior financing for the transaction was provided by EagleBank.

About Bluestone Investment Partners

Bluestone is a private equity firm investing exclusively in lower middle-market companies primarily in the defense and government services arena. Bluestone’s principals have a long and successful track record owning, operating, investing in, and advising companies in the defense and government services sector.  Additionally, many of Bluestone’s investors are industry luminaries who have successfully built, grown, and sold businesses to leading strategic buyers and private equity investors in the sector. Bluestone aims to leverage the industry expertise of its partners and investors to support both organic and acquisition-oriented growth strategies. Few private equity firms offer the combination of industry-focused intellectual and investment capital that Bluestone has assembled.
www.bluestoneinv.com.

About Continental Mapping Consultants, LLC

Established in 1999, Continental Mapping provides geospatial analytics to intelligence community, defense, federal government, state agencies, and commercial clients. The Company has provided products and solutions involving over 180 countries and on all seven continents. The Company was recently recognized for the second year in a row by Inc. magazine as one of the nation’s fastest growing companies. The Company is headquartered in Sun Prairie (Madison area), Wisconsin. www.continentalmapping.com