Veritas completes buyout of PwC’s U.S. public sector business

Veritas Capital has closed its previously announced acquisition of PwC’s U.S. public sector business. No financial terms were disclosed.

PRESS RELEASE

NEW YORK–(BUSINESS WIRE)–Veritas Capital, a leading private equity investment firm, today announced that an affiliate of Veritas has completed the acquisition of PwC’s US Public Sector business pursuant to an agreement entered into on February 13, 2018. The business will operate as a standalone company under Veritas’ ownership, and will be renamed upon the completion of its rebranding efforts, which are currently underway.

The PwC Public Sector business is a leading provider of strategic advisory services to customers such as the Department of Defense, Homeland Security, Veterans Affairs, Health and Human Services, and the Department of State, as well as numerous state and local governments. Led by professionals with deep commercial and public sector expertise, US Public Sector is also the first professional services firm to receive the Malcolm Baldrige National Quality Award, the nation’s highest award for quality management systems. Veritas Capital’s partnership with US Public Sector validates the company’s customer-focused value proposition, industry-leading platform and long-term growth trajectory.

Scott McIntyre, Chief Executive Officer of the US Public Sector business said, “We are excited to start this next stage of our growth as a standalone company and committed to completing a smooth transition. We are going to preserve the core of what has made this team successful in the past while taking advantage of the many new opportunities that this transaction has created. Veritas is an ideal partner for us, as their continued investment in our capabilities allows us to further our customer-driven mission.”

Ramzi Musallam, Chief Executive Officer and Managing Partner of Veritas Capital said, “I would like to formally welcome the US Public Sector team and am pleased to continue our ongoing partnership with management. We look forward to supporting this company’s growth – both organically and through strategic acquisitions – by leveraging Veritas’ deep experience operating in government markets and our extensive network of relationships in the field.”

About Veritas Capital
Veritas Capital is a leading private equity firm that invests in companies that provide critical products and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide, including those operating in the aerospace & defense, healthcare, technology, national security, communications, energy, government services and education industries. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. For more information on Veritas Capital and its current and past investments, visit www.veritascapital.com.