M&A SPECIAL REPORT

Best Divestitures

Three-way tie: MorganFranklin, Arinc and NEK Advanced Securities Group
Buyers: SRA International acquired part of MorganFranklin, Booz Allen Hamilton acquired part of Arinc, and Cubic Corp. bought part of NEK Advanced Securities Group
Value: $52 million for NEK; not available for Arinc and MorganFranklin
Closing dates: Dec. 3 for Booz Allen/Arinc, Dec. 16 for SRA/MorganFranklin and Dec. 17 for Cubic/NEK.
Why: These three deals illustrate the need for focused portfolios in today’s market because the sellers made the divestitures so they could concentrate resources in more strategic areas. The buyers added new capabilities in current markets: Cubic expanded training opportunities with special forces customers; Booz Allen added to its technical services; and SRA enhanced its tactical command and control, continuity-of-operations and program management support skills.
Bankers/Advisors: Houlihan Lokey for SRA/MorganFranklin; UBS for Booz Allen/Arinc; KippsDeSanto for Cubic/NEK Advanced Securities.

Return to the list of 2012's best deals

See our 2012 M&A roundup of closed transactions

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