KippsDeSanto & Co. Advises Whitney, Bradley, and Brown, Inc., a portfolio company of Lake Capital, on its Sale to an affiliate of H.I.G. Capital

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KippsDeSanto & Co. is pleased to announce the sale of Whitney, Bradley, and Brown, Inc. (“WBB” or the “Company”), a portfolio company of Lake Capital, to an affiliate of H.I.G. Capital.

Headquartered in Reston, VA, WBB is an industry-leading provider of next-generation full lifecycle management consulting services and mission support across the Department of Defense (“DoD”), civilian, and health markets.  The Company delivers its capabilities using a differentiated business model supported by highly-cleared Subject Matter Experts and on-site technical staff to address complex and continuously evolving mission requirements for highly-visible Programs of Record (“PoR”), Special Access Programs (“SAP”), and enduring platforms.

Since its founding in 1981, WBB has built a reputation as a leading, trusted advisor and mission-enabler for Federal customers.  The Company provides highly-flexible and sustained support tailored to meet specific customer needs and multi-faceted organizational challenges through operational capabilities development, acquisition and program support, advanced analytics, and mission performance.  With historically deep ties across the DoD, the Company has leveraged its vast institutional knowledge and has been successful in expanding its presence across the DoD, the Department of Homeland Security (“DHS”), and the Department of Veterans Affairs (“VA”).

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

  • Value continues to be placed on companies with mission-critical capabilities and support for PoRs, SAPs, and enduring platforms to capitalize on budgetary tailwinds and technology modernization priorities
  • Deeply-entrenched customer relationships with senior leadership and key program personnel provide significant insight into continuously evolving mission requirements
  • Private equity firms continue to leverage strong credit markets and remain active in the government services space to compete alongside strategic buyers for coveted assets

 

Press Release

 

H.I.G. Capital Completes Acquisition of WBB, Inc.

November 14, 2017 – H.I.G. Capital (“H.I.G.”), a leading global private equity investment firm with $24 billion of equity capital under management,* is pleased to announce that one of its affiliates has acquired Whitney, Bradley & Brown, Inc. (“WBB” or the “Company”).

Headquartered in Reston, VA, WBB is a leading provider of program management and consulting services to the U.S. Department of Defense and other federal agencies. WBB’s highly specialized and experienced workforce provides services across the full lifecycle from program development to ongoing support and mission performance.

Robert Olsen, CEO of WBB, remarked, “We are excited to announce our affiliation with H.I.G. Capital. H.I.G. brings to the table a wealth of knowledge and resources. We’re looking forward to leveraging these resources to accelerate the execution of our growth strategy while expanding our ability to provide mission critical, best-in-class solutions on behalf of federal agencies.”

“I’d like to congratulate Robert Olsen on his promotion to Chief Executive Officer and would also like to thank the Company’s retiring Executive Chairman Bill McMullen for his years of service,” said Jeff Zanarini, a Managing Director at H.I.G. “Bill and Robert have worked in tandem to position WBB as an integral partner to the Department of Defense and other federal agencies. We believe WBB’s existing services provide a strong foundation and are looking forward to working with the team to expand WBB’s capabilities through organic investments and complementary acquisitions as we embark on this exciting next chapter of growth.”

About WBB

Whitney, Bradley & Brown (“WBB” or the “Company”) is a leading provider of program management and consulting services to the U.S. Department of Defense and other federal agencies. WBB’s highly specialized and experienced workforce provides services across the full lifecycle from program development to ongoing support and mission performance. WBB was founded in 1981 and employs nearly 500 FTEs, including over 100 subject matter experts (“SMEs”) with an average tenure in excess of 20 years. Half of the Company’s advisors, consultants and SMEs are veterans and 75% have security clearances. The Company has a proven 25+ year history on programs of record that are vital to national security interests. Headquartered in Reston, Virginia, WBB is an ISO 9001-registered company with employees operating at seven strategically-located facilities across the country. For more information, visit https://wbbinc.com/.

About H.I.G. Capital

H.I.G. is a leading global private equity and alternative assets investment firm with $24 billion of equity capital under management.* Based in Miami, and with offices in New York, Boston, Chicago, Dallas, Los Angeles, San Francisco, and Atlanta in the U.S., as well as international affiliate offices in London, Hamburg, Madrid, Milan, Paris, Bogotá, Mexico City and Rio de Janeiro, H.I.G. specializes in providing both debt and equity capital to small and mid-sized companies, utilizing a flexible and operationally focused / value-added approach:

1.H.I.G.’s equity funds invest in management buyouts, recapitalizations and corporate carve-outs of both profitable as well as underperforming manufacturing and service businesses.

2.H.I.G.’s debt funds invest in senior, unitranche and junior debt financing to companies across the size spectrum, both on a primary (direct origination) basis, as well as in the secondary markets. H.I.G. is also a leading CLO manager, through its WhiteHorse family of vehicles, and manages a publicly traded BDC, WhiteHorse Finance.

3.H.I.G.’s real estate funds invest in value-added properties, which can benefit from improved asset management practices.

Since its founding in 1993, H.I.G. has invested in and managed more than 300 companies worldwide. The firm’s current portfolio includes more than 100 companies with combined sales in excess of $30 billion. For more information, please refer to the H.I.G. website at www.higcapital.com.

* Based on total capital commitments managed by H.I.G. Capital and affiliates.