Culmen makes deal for PlanetRisk federal arm
By
Ross Wilkers
Logistics contractor Culmen International adds federal services business of PlanetRisk for new business with defense, homeland security and intelligence agencies.
Global government logistics contractor Culmen International has acquired the federal services business of PlanetRisk to add new technology-related business with defense, homeland security and intelligence agencies.
Terms of the transaction were undisclosed. Washington, D.C.-based Culmen said Wednesday it will have a combined workforce of 200 employees.
PlanetRisk Federal Services -- also known as Analytic Strategies –supports the departments of Defense, Homeland Security, Energy and State, as well as the National Geospatial-Intelligence Agency.
Founded in 2004, Culmen focuses on services related to domestic and international security, military readiness and support, and stability operations.
Baird was the financial adviser for PlanetRisk Federal Services, while Access National Bank financed the transaction for Culmen. Venable represented PlanetRisk Federal Services during the deal negotiations and Pillsbury represented Culmen.
This is the seventh transaction Baird has advised on since the global financial services firm brought aboard long-time federal market investment bankers Jean Stack, John Song and Alex Sevilla in January to start a government services practice.
Those seven transactions have an aggregate value of around $1.8 billion.