ManTech Announces Completion of Acquisition by Carlyle
September 14 2022 - 3:01PM
ManTech International Corporation (Nasdaq: MANT) (“ManTech” or the
“Company”), a leading provider of innovative technologies and
solutions for mission-critical national security programs, today
announced the completion of its sale to funds managed by global
investment firm Carlyle (NASDAQ: CG) in an all-cash transaction
representing a total enterprise value of approximately $4.2
billion.
Under the terms of the go-private transaction, ManTech
stockholders will receive $96.00 per share in cash. With the
completion of the transaction, ManTech’s common stock has ceased
trading and will no longer be listed on the NASDAQ Global Select
Market.
“ManTech is at the forefront of its industry, delivering leading
and innovative solutions for mission-critical national security
programs,” said Dayne Baird, a Managing Director on Carlyle’s
Aerospace & Government Services team. “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. We believe our deep sector expertise, network and
resources will help accelerate ManTech’s growth and drive greater
value for its customers and employees.”
“The closing of this transaction represents the beginning of a
new chapter for ManTech, and we are excited for what the future
holds,” said ManTech Chairman, Chief Executive Officer and
President Kevin M. Phillips. “Throughout the Company’s 50+ year
history, we have evolved and expanded our leading portfolio of
differentiated solutions, invested in our diverse and talented
workforce and fostered strong relationships with key partners and
customers. 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.”
ManTech will remain headquartered in Herndon, Virginia and the
transition is expected to be seamless for customers and employees
across ManTech’s business.
AdvisorsGoldman Sachs & Co. LLC served as
exclusive financial advisor and King & Spalding LLP served as
legal counsel to ManTech in connection with the transaction.
Robert W. Baird & Co. served as financial advisor and Latham
& Watkins LLP served as legal advisor to Carlyle in connection
with the transaction.
About ManTech International CorporationManTech
provides mission-focused technology solutions and services for U.S.
federal government 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.
Additional information on ManTech can be found at
www.mantech.com.
About Carlyle Carlyle (NASDAQ: CG) is a global
investment firm with deep industry expertise that deploys private
capital across three business segments: Global Private Equity,
Global Credit and Global Investment Solutions. With $376 billion of
assets under management as of June 30, 2022, Carlyle’s purpose is
to invest wisely and create value on behalf of its investors,
portfolio companies and the communities in which we live and
invest. Carlyle employs more than 1,900 people in 26 offices across
five continents. Further information is available at
www.carlyle.com. Follow Carlyle on Twitter @OneCarlyle.
Contacts:
ManTech Investor Relations Stephen VatherVP,
M&A and Investor Relations(703)
218-6093Stephen.Vather@ManTech.comCarlyle Brittany
Berliner(212) 813-4839Brittany.Berliner@Carlyle.com |
ManTech MediaSheila BlackwellVP, Enterprise
Marketing & Communications(301)
717-7345Sheila.Blackwell@ManTech.com |
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