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Madison Dearborn Partners, CoVant Partner to Acquire LinQuest to Expand National Security Capabilities.

M2 EQUITYBITES-June 1, 2018-Madison Dearborn Partners, CoVant Partner to Acquire LinQuest to Expand National Security Capabilities


1 June 2018 - Chicago, US-based Madison Dearborn Partners and Virginia, US-based CoVant Management, two private equity firms that partner to secure equity investments in the federal government technology market, have acquired California, US-based LinQuest Corp., a provider to the US defense and intelligence communities of space systems technology solutions, the company said.

Terms of the transaction were not disclosed.

As part of the transaction, Bank of America Merrill Lynch is providing a credit facility to support the company's continued growth.

LinQuest management, including the CEO, will retain a significant minority ownership position in and will continue to lead the company.

Madison Dearborn Partners, LLC has raised seven funds with aggregate capital of approximately USD 23bn has completed approximately 130 investments.

MDP is currently investing out of its most recent fund, USD 4.4bn MDCP Fund VII, in businesses across a broad spectrum of industries, including business and government software and services; basic industries; financial and transaction services; health care; and telecom, media and technology services.

Founded by former executives of Anteon International, CoVant Management partners with and provides strategic, financial and operational resources to companies specialising in technology and related solutions that serve the needs of government customers.

LinQuest Corp. provides the US Department of Defense, Intelligence Community, and other customers with technically integrated solutions for critical national security capabilities focussed on the convergence of C4ISR, information, and cyber systems.

Baird served as LinQuest's financial advisor with Alston and Bird LLP, Squire Patton Boggs, and Drinker Biddle and Reath LLP serving as legal advisors. Kirkland and Ellis LLP and Crowell and Moring LLP served as legal advisors to MDP and CoVant.

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Publication:M2 EquityBites (EQB)
Date:Jun 1, 2018
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