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May 17, 2022

Carlyle to acquire defence contractor ManTech in $4.2bn deal

ManTech shareholders will receive $96 for each share they hold in the all-cash transaction.

Global investment firm Carlyle has agreed to acquire US-based defence contractor ManTech International Corporation in a deal carrying a total enterprise value of approximately $4.2bn.

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Under the all-cash transaction, ManTech shareholders will receive $96 for each share they hold.

The deal has already been approved by ManTech’s Board of Directors. It is scheduled to close in the second half of this year, subject to the approval of ManTech shareholders.

Carlyle Aerospace and Government Services managing director Dayne Baird said: “We have always admired ManTech’s unwavering commitment to support national security customers and their critical missions through differentiated capabilities and technology solutions.

“ManTech’s talented employees and leadership team have built a remarkable company, with strong market positions across the federal government.

“Through this partnership, we look forward to leveraging our sector expertise and resources to accelerate growth and innovation, and to drive greater value for customers and employees.”

ManTech focuses on offering mission-focused technology solutions and services to defence, intelligence, and federal civilian agencies in the US.

Commenting on the deal, ManTech chairman, CEO and president Kevin M. Phillips said: “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 maximisation outcome, offering liquidity at a significant premium.”

In November last year, ManTech signed a deal to acquire Gryphon Technologies for $350m. The deal closed a month later in December.

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