New M&A player led by old hands

Olive Group, a provider of critical infrastructure protection and security solutions, has received an investment from Monitor Clipper Partners, a private equity group, to make acquisitions and pay for other growth needs.

Olive Group is led by Chief Executive Officer David Langstaff, who steered Veridian Corp. through several acquisitions, an initial public offering and then a $2 billion sale to General Dynamics Corp in 2003. Other former Veridian executives with Olive include Phil Lacombe, Jerry Howe, Jim Allen, John Hassoun and Gene Colabatistto.

The size of Monitor Clipper's investment in Olive was not disclosed, but the funds will be used for acquisitions, growth and working capital needs.

"The collaboration of Olive and Monitor Clipper is very exciting. It brings capital, strategic relationships, and a young global security company together around a shared vision of building a market leader in the emerging field of intelligent integrated security solutions," Langstaff said.

Monitor Clipper may invest more in Olive if the need arises, said Michael Bell, managing director for the private equity group. "We share [Olive's] vision that the market is ready for security to be considered as an integrated, technology-enabled, systems-level offering," he said.

Olive Group offers security services and solutions for critical infrastructure protection, post-conflict reconstruction, humanitarian work and emerging market opportunities. The company, which has principal offices in Washington, Dubai and London, was founded by Chris and David St. George, with Gavin Mayhew and John Yourston., all of whom remain with Olive Group in senior leadership positions.