New York investors to buy DynCorp International for $1.5B

Cerberus Capital to take ownership of Falls Church, Va., contractor

Cerberus Capital Management is purchasing DynCorp International for approximately $1.5 billion, including the assumption of debt, DynCorp announced today.

Under the agreement, which still requires shareholder approval, stockholders of the national security technology and services provider would receive $17.55 in cash for each share from the New York private investment firm.

The company also has 28 days to field offers from other potential suitors.  DynCorp said it expects the Cerberus deal to be completed after midyear. The acquisition is a return to private equity ownership for DynCorp, which was owned by Veritas Capital before going public in 2006.

“We are very excited about today’s announcement and what it means for DynCorp International, our employees and our customers going forward,” William Ballhaus, DynCorp president and chief executive officer, said in the statement.

Ballhaus said that the move would allow his Falls Church, Va., company to “continue to achieve our growth objectives.”

In January, DynCorp International acquired Casals & Associates Inc., an international development company, through the purchase of 100 percent of the company’s stock. Financial terms of that acquisition were not disclosed.

About the Author

David Hubler is the former print managing editor for GCN and senior editor for Washington Technology. He is freelance writer living in Annandale, Va.

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