MAXIMUS Mergers and Acquisitions Summary

Business Services Company

MAXIMUS has acquired 10 companies, including 3 in the last 5 years. A total of 5 acquisitions came from private equity firms. It has also divested 2 assets.

MAXIMUS’s largest acquisition to date was in 2021, when it acquired Attain - Federal Division for $430M. MAXIMUS has acquired in 3 different US states, and 3 countries. The Company’s most targeted sectors include information technology (58%) and healthcare services (29%).

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M&A Summary

  • M&A Total Activity9
    • M&A Buy Activity7
    • M&A Sell Activity2
  • Total Sectors Invested 3
  • Total Countries Invested 3
  • M&A Buy/Sell Connections 9
  • M&A Advisors 1

MAXIMUS, Inc.

1891 Metro Center Drive,
Reston, Virginia 20190
United States,
(703) 251-8500
www.maximus.com

MAXIMUS is an operator of government health and human services programs in the United States, United Kingdom, Canada, Australia and Saudi Arabia. The Company delivers business process services to improve the cost effectiveness, efficiency and quality of government-sponsored benefit programs, such as the Affordable Care Act, Medicaid, Medicare, Children's Health Insurance Program (CHIP), Health Insurance BC (British Columbia), as well as welfare-to-work and child support programs around the globe. MAXIMUS was formed in 1975 and is based in Reston, Virginia.


M&A Summary

Buy vs Sell

Year ≤ '16 '17 '18 '19 '20 '21 T
Buy (0.4/yr) # 5 - 1 - - 1 7
vol $667M $400M $430M $1.5B
Sell (0.0/yr) # 2 - - - - - 2
  9

Most Recent M&A

Company Date Value Type
Attain LLC - Federal Division 2021-03-01 430M USD Divestiture
McLean, Virginia
General Dynamics Information Technology, Inc. - Federal Citizen Engagement Centers 2018-10-09 400M USD Divestiture
Fairfax, Virginia
MAXIMUS, Inc. - TIENET 2016-05-10 - Divestiture
Reston, Virginia
Ascend Management Innovations 2016-03-01 300M USD Add-on Acquisition
Franklin, Tennessee · www.ascendami.com
Acentia LLC 2015-03-09 300M USD Add-on Acquisition
Falls Church, Virginia · www.acentia.com
Health Management Limited 2013-07-01 - Add-on Acquisition
, United Kingdom
Policy Studies, Inc. 2012-04-12 67M USD Add-on Acquisition
Denver, Colorado · www.policy-studies.com
DeltaWare Systems, Inc. 2010-02-12 - Add-on Acquisition
Charlottetown, Prince Edward Island
MAXIMUS - Justice, Education, and Asset Solutions Businesses 2008-09-23 - Divestiture
Reston, Virginia
View All >>

Business Unit M&A

Company Acquired Add-On/Sale Date #
Acentia LLC    - Information Technology (IT)/ NetStar 2010-10-26 5
Falls Church, Virginia · www.acentia.com , United States

M&A by Sector

Sector Buy # Value Sell # Value
Information Technology 4 (57%) 1.1B (75%) - -
Healthcare Services 2 (29%) 300M (20%) - -
Business Services 1 (14%) 67M (4%) - -
Education - - 1 (50%) -
Software - - 1 (50%) -
Total 7 $1.5B 2 -

By Geo

State/Country Buy Value Sell Value
United States 5 1.5B 2 -
  Virginia 3 1.1B 2 -
  Tennessee 1 300M - -
  Colorado 1 67M - -
Canada 1 - - -
  Prince Edward Island 1 - - -
United Kingdom 1 - - -
Domestic 5 (71%) 1.5B (100%) 2 (100%) -
Cross-border 2 (29%) - - -
Total 7 $1.5B 2 -

Top M&A Advisors

Legal Deals
Hogan Lovells
3

Deal Values

buy # Total
$100M to $1B 4 $1.4B
< $100M 1 $67M
TOTAL $1.5B
Largest Attain LLC - Federal Division
$430M (2021-03-01)

M&A Connections

Deals
Acquired from
Investor(s)
29%
2 (29%)
Strategic(s)
29%
2 (29%)
Divested to
Strategic(s)
100%
2 (100%)

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