ManTech buying personnel security investigations firm
- By William Welsh
- Mar 03, 2003
ManTech International Inc. plans to buy MSM Security Services Inc. in a cash deal worth $5.25 million, ManTech announced today.
The deal is expected to close by mid March.
After closing, MSM of Greenbelt, Md., will operate as ManTech MSM Security Services Inc. under ManTech's Information Technology Solutions Group. ManTech's current investigative services business operations will be folded into ManTech MSM.
The acquisition of MSM will enable ManTech to expand service areas in support of priority national security programs for the DOD and intelligence community, said Bradley H. Feldmann, president of ManTech's Information Technology Solutions Group.
MSM President William Early Whaley will continue in his current position, ManTech said.
MSM specializes in personnel security investigations services to the federal government. The company has about 100 employees and annual revenue of $19.9 million. It also maintains a nationwide network of about 1,800 contract investigators that support the company's mission.
Quarterdeck Investment Partners LLC of Los Angeles served as financial adviser to ManTech on the transaction.
MSM has contracts with the U.S. Customs Service, Defense Security Service, National Security Agency and other federal agencies.
Two companies previously formed a joint venture that won a $50 million contract from the Naval Air Systems Command to provide services to supplement the background security investigative services capabilities of the Defense Security Service.
The acquisition of MSM is ManTech's fourth since its initial public offering in February 20002 and the second completing a follow-on public offering in December, the company said.
William Welsh is a freelance writer covering IT and defense technology.