Carlyle Group buys ManTech in $4.2B deal

By John Liang / May 16, 2022 at 10:27 AM

Private-equity firm the Carlyle Group has purchased ManTech International in a deal worth $4.2 billion, both companies announced today.

Under the terms of the transaction, ManTech shareholders will receive $96 per share in cash, the two companies 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," said Dayne Baird, a managing director on Carlyle's Aerospace & Government Services unit. "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."

"This announcement is an important milestone for ManTech and a testament to our growth and the leadership position we have built since our founding by George Pedersen more than 50 years ago," said ManTech Chairman, Chief Executive Officer and President Kevin Phillips. "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 maximization outcome, offering liquidity at a significant premium. We look forward to leveraging Carlyle's deep knowledge and experience investing in and growing companies, as we deliver stronger outcomes for our customers and increased opportunities for our employees."

ManTech last November agreed to buy Washington, DC-based Gryphon Technologies from AE Industrial Partners for $350 million.