Sunday, October 13, 2024

Press Release: ManTech Announces Completion of Acquisition by Carlyle

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… Read the full release here.

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Jackie Gilbert
Jackie Gilbert
Jackie Gilbert is a Content Analyst for FedHealthIT and Author of 'Anything but COVID-19' on the Daily Take Newsletter for G2Xchange Health and FedCiv.

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