Government Services 2nd Half 2024 Review
Read more about M&A activity and trends in this sector
Government Services Review 2nd Half 2024
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- The Government IT Services M&A market ended 2024 with 140 transactions vs. 135 in 2023
- Private Equity firms remain very active and critical capital providers in the Government Services M&A market, driving 68% of all 2024 transactions (Platforms: 22.9%, Bolt-Ons: 45.0%)
- 2024 saw the formation of 32 new PE-Backed Govt Services platforms, Backed by both established and new financial players
- The average PE-Backed Platform hold period increased from 4.3 years to 5.1 years from 2023 to 2024 as platforms continue to be patient in looking for the right market conditions to exit
- 2024 provided a multitude of exit scenarios for sellers:
- IPO: Amentum
- Public Strategic: CACI (Applied Insight, Azure Summit, Quandrint), Parsons (Blacksignal), CGI (Aeyon), KBR (LinQuest)
- New PE Platforms: Bluestone (Valiant), Sagewind (Sabel Systems), Madison Dearborn (Harmonia), Macquarie (ERT), NewSpring Holdings (Xpect Solutions)
- Fund-to-Fund: Axient (Sagewind) to Astrion (Brightstar), Bart & Associates (Battle) to DFW Capital Partners
- Bolt-Ons: JY System to Markon (Sterling), Calhoun to Core One (Blue Delta), Secure Enterprise Engineering, Boldend and Kyrus Tech to SIXGEN (Washington Harbour), JJR Solutions to LMI (Capitol Meridian, Declaration), June Technologies to Sigma Defense (Sagewind)
We hope you find this information valuable, and as always, feel free to reach out if you would like to discuss in further detail. To read the full report, download the PDF below.
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Government Services Review 2nd Half 2024
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Government Services Industry Update 1st Half 2023
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