M&A Deal Summary

Capitol Meridian Partners, Declaration Partners and 22C Capital Acquire LMI

On July 12, 2022, private equity firm Capitol Meridian Partners, family office Declaration Partners and private equity firm 22C Capital acquired business services company LMI

Acquisition Highlights
  • This is Capitol Meridian Partners’ 2nd, Declaration Partners’ 2nd and 22C Capital’s 1st transaction in the Business Services sector.
  • This is Capitol Meridian Partners’ 2nd, Declaration Partners’ 3rd and 22C Capital’s 4th transaction in the United States.
  • This is Capitol Meridian Partners’ 1st, Declaration Partners’ 1st and 22C Capital’s 1st transaction in Virginia.

M&A Deal Summary
Date 2022-07-12
Target LMI
Sector Business Services
Buyer(s) Capitol Meridian Partners
Declaration Partners
22C Capital
Deal Type Buyout (LBO, MBO, MBI)
Advisor(s) KippsDeSanto (Financial)

Target

LMI

Tysons, Virginia, United States
LMI is a consulting firm dedicated to improving the management of government. With more than 1,000 consultants, we design and implement solutions to some of the toughest problems facing government managers in logistics, information technology, and resource allocation. LMI is based in Tysons, Virginia.

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Buyer(S) 3

Buyer

Capitol Meridian Partners

Category Private Equity Firm
Founded 2021
Size Small
Type Sector Agnostic
DESCRIPTION

Capitol Meridian Partners is a private equity firm focused on companies in government and regulated sectors across North America. Specific sectors of interest include aerospace, defense, government services, and government software, technology, and communications. The Firm typically commits $50 to $250 million per transaction to support buyouts, growth financings, and carve-out situations. Prospective companies are typically profitable with EBITDA between $5 and $75 million. Capitol Meridian Partners was established in 2021 and is based in Washington DC.

DEAL STATS #
Overall 2 of 3
Sector (Business Services) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 2 of 2
State (Virginia) 1 of 1
Country (United States) 2 of 3
Year (2022) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-04-01 Altumint

Lanham, Maryland, United States

Altumint is a technology services company providing traffic safety and analytical solutions to state and local government customers. Altumint’s integrated technology offering combines proprietary artificial intelligence software along with secure private cloud and back-end services to provide turnkey solutions to government customers. Altumint was founded in 2019 and is based in Lanham, Maryland.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-06 PrimeFlight Aviation Services

Sugar Land, Texas, United States

PrimeFlight Aviation Services provides major airlines, airports, cargo, and general aviation customers with GSE maintenance, ground handling services, aircraft services, into-plane fueling, deicing, aviation cleaning supplies, and terminal services, across a global footprint. PrimeFlight is based in Sugar Land, Texas.

Buy -
Buyer

Declaration Partners

Category Family Office
Founded 2017
PE ASSETS 2.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Declaration Partners is the family office of Carlyle Group founder David Rubenstein. Declaration has a broad and flexible mandate to make a variety of private equity and real estate investments, including building platform businesses, providing growth equity capital, seeding early stage private funds and venture studios, and partnering with family-owned businesses. Declaration is long-term oriented and partners with management teams to create sustainable value. Declaration Partners was formed in 2017 and is headquartered in New York City.

DEAL STATS #
Overall 3 of 3
Sector (Business Services) 2 of 2
Type (Buyout (LBO, MBO, MBI)) 2 of 2
State (Virginia) 1 of 1
Country (United States) 3 of 3
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-06-01 New Frontier Materials

Maryland Heights, Missouri, United States

New Frontier Materials is a construction materials platform focused on aggregates and asphalt businesses. New Frontier Materials was formed in 2020 and is based in Maryland Heights, Missouri.

Buy -
Buyer

22C Capital

Investor Investor

Category Private Equity Firm
Founded 2017
Size Small
Type Sector Agnostic
DESCRIPTION

22C Capital is a private investment firm focused on opportunities in the business services, healthcare, and financial services sectors. 22C is a hands-on investor and will consider companies throughout the US. 22C Capital was formed in 2017 and is headquartered in New York City.

DEAL STATS #
Overall 4 of 4
Sector (Business Services) 1 of 1
Type (Buyout (LBO, MBO, MBI)) 1 of 1
State (Virginia) 1 of 1
Country (United States) 4 of 4
Year (2022) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-09-15 Definitive Healthcare

Framingham, Massachusetts, United States

Definitive Healthcare is a provider of data and intelligence on hospitals, physicians, and other healthcare providers. Definitive Healthcare was founded in 2011 and is based in Framingham, Massachusetts.

Sell -
Mergr

Product

Company

Legal