M&A

DLH further builds health IT portfolio with SSS acquisition

DLH Holdings Corp. has made another move in building up its capabilities in the federal health market with the acquisition Social & Scientific Systems.

The $70 million deal adds about 400 people, plus customers at the National Institutes of Health, and Centers for Medicare and Medicaid Services. SSS is expected to add about $65 million in new revenue and push DLH over the $330 million mark.

“This is an exciting addition to DLH and one that aligns perfectly with our strategy to expand the company's public health and life sciences focus area, diversifying our portfolio and bringing scale to support growth,” DLH CEO and President Zachary Parker said in a release.

The deal builds off DLH’s acquisition Danya in 2016 and adds expertise in public health and life sciences, as well as capabilities around data analytics, advanced research and IT.

"DLH has quickly become a formidable mid-tier player in the health GovCon landscape,” said Marc Marlin, managing director at the investment bank Kipps DeSanto, which was an adviser to DLH.

SSS will operate as a subsidiary of DLH and the current management team will continue under the leadership of Kevin Beverly, its current president.

In addition to KippsDeSanto, Hogan Lovells US LLP and Becker & Poliakoff LLP were legal advisers. The Avascent Group, Baker Tilly, and the Lockton Companies also provided consulting services.

Houlihan Lokey served as a financial adviser to SSS, Saul Ewing Arnstein & Lehr LLP served as legal adviser.

About the Author

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

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