Salient CRGT closes deal for Triple-i

Salient CRGT has finalized its acquisition of Information Innovators Inc. in a move that pushes the company deeper into the federal health care market.

Terms of the acquisition of Triple-i were not disclosed. Salient CRGT announced the acquisition in early February

Triple-i brings with it clients from across the federal government and includes agencies such as Health and Human Services, FDA, the Defense Health Agency and Veterans Affairs.

CEO Brad Antle told me at the time that moving into the health care arena was something the company wanted to do for several years and Triple-i provides the right platform.

Triple-i also brings about $200 million in added revenue and pushes Salient CRGT over the $500 million mark.

Triple-i will become a standalone division and what health work Salient CRGT had will be folded into that unit. Triple-i’s non-health work will be integrated into other parts of Salient CRGT.

With the deal, Salient CRGT’s revenue will be 25 percent health care, 25 percent defense and intel and 50 percent civilian.

RBC Capital Markets and Sagent Advisors served as Salient CRGT’s financial advisors, and KippsDeSanto & Co. served as Triple-i’s financial advisor. Willkie Farr & Gallagher LLP and Garvey Schubert Barer served as legal advisor for Salient CRGT. Holland & Knight served as legal advisor for Triple-i.