Kroll Government Services is a division of Kroll, a global risk-consulting company that is a subsidiary of Marsh & McLennan, the global advisory company. The division is responsible for developing new business and coordinating the services provided by Kroll’s practices to federal, state and local government agencies in the United States. The division has been awarded contracts from the U.S. office of Personnel Management, the U.S. Department of Customs and Border Protection, and the Executive Office of the U.S. Trustee, according to a recent job posting.
Marsh & McLennan and Kroll had unsuccessfully shopped the division in 2008, according to an April 20 announcement about the sale by Kroll Government Services President Jeff Schlanger, who referred to Veritas as “a private equity firm with extensive holdings in the government market.” Schlanger said the division “has been built from an idea to a $75 million company in just five years,” adding “I am confident that we can continue to achieve similar growth and success as an organization going forward with our new owner.”
Terms of the deal were not disclosed. The parties expect to complete the sale by May 31, according to a frequently asked questions report on the division’s Web site. That report also says management will remain at the new stand-alone Veritas portfolio company. The division also launched a contest to rename the business.
Marsh & McLennan is a global advice and solutions firm with 55,000 employees and annual revenues of approximately $12 billion.
Read the rest of this story at the web site of Buyouts magazine, where Bernard Vaughan is a senior editor.