M&A Deal Summary

Veritas Capital Acquires Peraton

On April 28, 2017, private equity firm Veritas Capital acquired communications company Peraton from L3Harris for 690M USD

Acquisition Highlights
  • This is Veritas Capital’s 3rd transaction in the Communications sector.
  • This is Veritas Capital’s 15th largest (disclosed) transaction.
  • This is Veritas Capital’s 21st transaction in the United States.
  • This is Veritas Capital’s 8th transaction in Virginia.

M&A Deal Summary

Date 2017-04-28
Target Peraton
Sector Communications
Buyer(s) Veritas Capital
Sellers(s) L3Harris
Deal Type Divestiture
Deal Value 690M USD

Target

Peraton

Herndon, Virginia, United States
website
Peraton is a provider of technology-focused services and solutions to various federal government agencies, including space, intelligence, defense, civil, and healthcare. Capabilities include complex software and technology services and solutions, and end-to-end mission operations abilities, including software systems development, cyber, modeling & simulation, mission operations, signal intelligence (SIGINT), and quick reaction capabilities (QRC) / research & development. Peraton is based in Herndon, Virginia.

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Buyer(S) 1

Buyer

Veritas Capital

New York, New York, United States

website


Category Private Equity Firm
Founded 1992
PE ASSETS 40.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Veritas Capital is a private equity investment firm that targets investments in defense, aerospace, government services, media/telecommunications, consumer products, and specialty manufacturing companies. Veritas generally partners with management when pursuing investments. Prospective transaction situations include buyouts, growth capital investments, and leveraged recapitalizations. Veritas Capital was established in 1992 and is based in New York City.


DEAL STATS #
Overall 22 of 40
Sector (Communications) 3 of 3
Type (Divestiture) 11 of 18
State (Virginia) 8 of 10
Country (United States) 21 of 38
Year (2017) 2 of 2
Size (of disclosed) 15 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-28 APTIM

The Woodlands, Texas, United States

APTIM provides comprehensive and integrated maintenance services, environmental engineering and remediation, infrastructure EPC services, program management, and disaster response and recovery for the private sector and government customers. The business serves a diverse mix of commercial customers in the power, oil & gas, chemical, manufacturing, and retail sectors. Government customers include U.S. federal departments and agencies such as the DoD, DoE, FEMA, and EPA, as well as state and local governments. APTIM is based in The Woodlands, Texas.

Buy $755M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-06-22 Perspecta

Chantilly, Virginia, United States

Perspecta, Inc. is a provider of high impact, analytical and technical expertise in the areas of data analytics, system engineering, and integration and cyber security for the U.S. Government and commercial customers. Perspecta is based in Chantilly, Virginia.

Sell -

Seller(S) 1

SELLER

L3Harris

Melbourne, Florida, United States

website


Category Company
Founded 1895
Sector Defense
Employees47,000
Revenue 19.4B USD (2023)
DESCRIPTION
Entrance to L3Harris' corporate headquarters in Melbourne, Florida.
Entrance to L3Harris' corporate headquarters in Melbourne, Florida.

L3 Harris is a producer of communications products, systems and services for global markets, including RF communications, integrated network solutions and government communications systems. L3Harris Technologies was founded in 1895 and is based in Melbourne, Florida.


DEAL STATS #
Overall 11 of 22
Sector (Communications) 2 of 2
Type (Divestiture) 10 of 21
State (Virginia) 1 of 2
Country (United States) 11 of 22
Year (2017) 1 of 1
Size (of disclosed) 5 of 11
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-01 Harris CapRock Communications

Houston, Texas, United States

Harris CapRock Communications, Inc. is a provider of satellite and terrestrial communication solutions for primarily the maritime and energy markets.

Sell $425M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-10-14 L-3 Communications

New York, New York, United States

L3 Technologies, Inc. is an american company that supplies command and control, communications, intelligence, surveillance and reconnaissance systems and products, avionics, ocean products. L3 Technologies was founded in 1997 and is based in New York.

Buy -