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New Deal


Announced

WCAS-backed GovernmentCIO to acquire Salient CRGT from Bridge Growth Partners and Frontenac for $700m.

Financials

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Transaction Value£507m
Consideration TypeCash
Capital Owned-
Capital Bid For100%
EV/Sales-
EV/EBITDA-
Share Price Premium-
One Off Charge-

Tags

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Private

Private Equity

Majority

Acquisition

Domestic

Friendly

United States

information technology

Digital Services

Pending

Single Bidder

Synopsis

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Welsh, Carson, Anderson & Stowe-backed GovernmentCIO, a provider of information technology and digital services, agreed to acquire Salient CRGT, a company that offers IT services, from Bridge Growth Partners and Frontenac, two private equity firms for $700m. "SCRGT's highly differentiated ability to deliver innovative solutions and strong customer relationships have fueled its success to-date, positioning it as a clear market leader. Together, we are confident that we have the scale and additional capabilities to deliver even greater value to a broader set of federal customers. We are delighted to partner with SCRGT's leadership team and employees moving forward," Jim Brabston, GovernmentCIO CEO.

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