PE Deals

QinetiQ US to acquire cybersecurity firm Avantus from NewSpring for $590m

The deal is expected to close by end of 2022.

-
  • Guggenheim Securities LLC served as financial advisor to Avantus and NewSpring Holdings, while Citizens and Gleacher Shacklock served as joint lead financial advisers to QinetiQ
  • QinetiQ US is a defense and security company and the U.S. subsdiary of QinetiQ Group plc
  • Founded in 1999, NewSpring manages over $2.5 billion across five distinct strategies covering growth equity and control buyouts to mezzanine debt

QinetiQ US has agreed to acquire Avantus Federal from NewSpring Holdings for $590 million. The deal is expected to close by end of 2022.

Avantus is a provider of mission-focused cyber, data analytics, and software development solutions to the Department of Defense, intelligence community, Department of Homeland Security, and other law enforcement and civilian agencies.

“We have been thoroughly impressed by the quality of the Avantus employee base, leadership team, customer impact, and the sustained organic growth. We see great alignment in our culture and strategy,” said Steve Wadey, Group CEO for QinetiQ Group plc, in a statement. “Avantus’ highly integrated business, core capabilities, and customer relationships complement QinetiQ’s distinctive offerings, allowing us to grow the services and solutions that benefit our combined global customers as their needs evolve at an accelerating pace.”

Guggenheim Securities, LLC served as financial adviser to Avantus and NewSpring Holdings, and Baker Tilly provided financial due diligence expertise. Blank Rome LLP and Kirkland & Ellis LLP served as counsel to Avantus. Citizens and Gleacher Shacklock served as joint lead financial advisers and Baker McKenzie served as counsel to QinetiQ.
QinetiQ US is a U.S. defense and security company and is the U.S. subsdiary of QinetiQ Group plc.

Avantus Federal is a data, cyber, and space services and solutions company.

Founded in 1999, NewSpring manages over $2.5 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt.