Global investment firm Carlyle completed its acquisition of ManTech International and took the government services contractor private through an all-cash transaction worth approximately $4.2 billion.
ManTech said Wednesday it stopped trading on Nasdaq following the completion of the deal and that it will continue to operate through its Herndon, Virginia, headquarters.
Stockholders at ManTech approved the proposed acquisition by Carlyle on Sept. 7 and will get $96 in cash per share under the transaction’s terms.
Kevin Phillips, chairman, president and CEO of ManTech and a 2022 Wash100 Award winner, said the company has expanded its portfolio of platforms, invested in its workforce and nurtured relationships with customers and partners in the past five decades and that the closing of the deal marks a new chapter for ManTech.
“We are proud of the leadership position we have built and believe we are well prepared to advance our business, our strategic plan and the value we provide to our customers and employees with the additional expertise of the Carlyle team,” added Phillips.
Carlyle agreed to buy ManTech in May.