Another private equity deal hits the government market

GTCR, Six3 make first acquisition; four private equity deal in a month

The private equity group GTCR and its government portfolio company, Six3 Systems Inc. have made their first acquisition and are buying an intelligence company. The deal marks the fourth private equity-backed transaction announced in the past month.

GTCR and Six3 are buying Harding Security Associates Inc. of McLean, Va. The company has about 350 employees and supports defense and intelligence agencies. Its core capabilities center around biometric intelligence analysis and forensics, the company said. It also provides training and security services.

“We view this deal as a critical first step in achieving our long term objective of building a highly specialized national security services provider that is focused on solving our nation’s most pressing security challenges domestically and abroad,” said Robert Coleman, chief executive officer of Six3, in a statement.

Coleman is the former president and chief operating officer of ManTech International. He and GTCR formed Six3 in April as a platform company. The deal to acquire Harding is their first acquisition.

“Since we announced the formation of Six3, we have actively targeted providers of specialized services in high-growth areas within the defense budget. We believe HSA fits squarely within this strategy,” said GTCR Principal Craig Bondy.

The investment bank KippsDeSanto represented Harding in the sale.

During late May and June, three other private equity backed acquisition were announced.

** Veritas Capital bought a unit of Kroll Inc. and created KeyPoint Government Solutions.

** A-T Solutions, backed by the CoVant equity capital group acquired Accelligence LLC.

** Wyle Holdings Inc.’s owner Littlejohn & Co. sold the company to another private quity group, Court Square Capital Partners.

About the Author

Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.

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