Acquisition deal

Carlyle Closes $4.2B Acquisition of ManTech International

Carlyle has completed its $4.2 billion acquisition of ManTech International. ManTech stockholders are set to collect $96 per share in cash.

According to Dayne Baird, a managing director with Carlyle’s Aerospace and Government Services division and a Potomac Officers Club member, ManTech is an industry leader in solutions delivery for national security programs and will continue providing services to its government customers, this time alongside Carlyle.

ManTech will remain headquartered in Herndon, Virginia. Customers and employees can expect a smooth transition, the company said.

Both companies entered into a definitive agreement for an all-cash merger in May, with ManTech’s board of directors unanimously approving the acquisition. Shareholders followed suit recently with more than 99 percent of votes in favor of the acquisition, including co-founder George Pedersen. According to Mantech CEO Kevin Philips, a six-time Wash100 winner and another member of the POC, the board had determined the transaction would provide liquidity at a premium for company investors.

In 2021, Carlyle purchased CNSI from Alvarez and Marsal Capital Partners. The health care technology company reorganized its board of directors in June 2022, counting Carlyle’s Dayne Baird and Wash100 awardees Todd Stottlemeyer and Frank Finelli among the leadership team.