LOS ANGELES, Jan. 19, 2016 -- Platinum Equity announced today it has signed a definitive agreement to acquire PAE from Lindsay Goldberg.
PAE is a leading provider of enduring support for the essential
missions of the U.S. government, its allied partners and international
organizations. Financial terms were not disclosed. The transaction is
expected to close by the end of February 2016 subject to regulatory approvals.
PAE, headquartered in Arlington,
Va., supports the execution of complex and critical missions by
providing global logistics and stability operations, technical services
and national security solutions to customers on all seven continents.
"We look forward to partnering
with PAE's management team to drive continued growth and help maximize
operational performance throughout the business," said Platinum Equity
Partner Louis Samson. "PAE has a strong management team, long-term
customer relationships and dedicated employees delivering vital services
around the world."
Lindsay Goldberg acquired PAE from Lockheed Martin Corporation in 2011. Since that time,
the company has completed four acquisitions in the past five years as
part of a strategic growth strategy to incorporate new customers and new
capabilities that align with its mission-focused company culture.
"Through strategic acquisitions
and our significant organic growth in recent years, PAE has diversified
its portfolio across the spectrum of government services," said John Heller.
"We are well-positioned to address a growing number of our nation's
most critical national security and foreign policy mission requirements
and continue our organic and inorganic growth by leveraging over 60
years of proven performance."
About Platinum Equity
Founded in 1995 by Tom Gores, Platinum Equity (www.platinumequity.com) is a global investment firm with more than $6 billion
of assets under management and a portfolio of more than 25 operating
companies that serve customers around the world. Platinum Equity
specializes in mergers, acquisitions and operations – a trademarked
strategy it calls M&A&O® – acquiring and operating
companies in a broad range of business markets, including manufacturing,
distribution, transportation and logistics, equipment rental, metals
services, media and entertainment, technology, telecommunications and
other industries. Over the past 20 years Platinum Equity has completed
more than 175 acquisitions.
PAE is a
leading provider of enduring support for the essential missions of the
U.S. government, its allied partners and international organizations.
With over 60 years of experience, PAE supports the execution of complex
and critical missions by providing global logistics and stability
operations, technical services and national security solutions to
customers around the world. PAE has a workforce of approximately 15,000
people in over 60 countries on all seven continents and is headquartered
in Arlington, VA. For more information, please visit www.pae.com.