M&A Deal Summary

GovernmentCIO Acquires Salient CRGT

On July 8, 2021, GovernmentCIO acquired information technology company Salient CRGT from Frontenac and Bridge Growth Partners

Acquisition Highlights
  • This is GovernmentCIO’s 1st transaction in the Information Technology sector.
  • This is GovernmentCIO’s 1st transaction in the United States.
  • This is GovernmentCIO’s 1st transaction in Virginia.

M&A Deal Summary

Date 2021-07-08
Target Salient CRGT
Sector Information Technology
Buyer(s) GovernmentCIO
Sellers(s) Frontenac
Bridge Growth Partners
Deal Type Add-on Acquisition
Advisor(s) Baird
Guggenheim Securities (Financial)
Kirkland & Ellis
Willkie Farr & Gallagher (Legal)

Target

Salient CRGT

Fairfax, Virginia, United States
Salient CRGT’s diverse, hard-working team provides a wide range of technology and mission support services to U.S. federal government agencies. The company has earned the unwavering trust of customers, who cite deep expertise, exceptionally responsive approach, and high-value solutions for consistently ensuring their success. Founded in 1998, Salient CRGT is a privately held company headquartered in Fairfax, Virginia.

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Buyer(S) 1

Buyer

GovernmentCIO

Washington, District of Columbia, United States

Category Company
Sector Information Technology
DESCRIPTION

GovernmentCIO is a provider of high-end technology and digital solutions to the Federal Health IT Services market. GovernmentCIO is based in Washington, District of Columbia.


DEAL STATS #
Overall 1 of 1
Sector (Information Technology) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (Virginia) 1 of 1
Country (United States) 1 of 1
Year (2021) 1 of 1

Seller(S) 2

SELLER

Frontenac

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1971
PE ASSETS 2.1B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Frontenac is a Midwest US-based private equity firm that seek profitable, lower middle-market company investments with $5 to $25 million of EBITDA. Frontenac typically partners with management when pursuing acquisitions, including companies managed by owner-operators. Sectors of interest include financial services, healthcare services, education/HR services, manufacturing, publishing/media, and technology services. Frontenac was formed in 1971 and is based in Chicago, Illinois.


DEAL STATS #
Overall 54 of 60
Sector (Information Technology) 6 of 8
Type (Add-on Acquisition) 18 of 22
State (Virginia) 3 of 3
Country (United States) 52 of 58
Year (2021) 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-02-03 Crofter’s Food

Seguin, Ontario, Canada

Crofter’s Food is a manufacturer of private label and branded fruit spreads, which are primarily sold throughout North America. The Company’s fruit spreads come in a variety of flavors including strawberry, raspberry, blackberry, and blueberry. Crofter’s Food was founded in 1989 and is based in Seguin, Ontario.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-07-29 Whitebridge Pet Brands

Chesterfield, Missouri, United States

Whitebridge Pet Brands is a provider of natural, wholesome, and minimally processed food and treats for dogs and cats. The Company’s family of brands – Cloud Star, Buddy Biscuits, Wag More Bark Less, Tiki Cat, Tiki Dog, Dogswell, and Nutrisca are sold through a variety of retailers across the U.S. and Canada. Whitebridge Pet Brands is based in Chesterfield, Missouri.

Sell -
SELLER

Bridge Growth Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Growth Capital Firm
Founded 2013
Size Small
Type Sector Focused
DESCRIPTION

Bridge Growth Partners is a private equity firm that targets investments in the technology and technology-enabled financial services sectors. Bridge Growth Partners pursues growth situations and will consider opportunities throughout the US. Bridge Growth Partners was formed in 2013 and is based in New York City.


DEAL STATS #
Overall 2 of 5
Sector (Information Technology) 2 of 4
Type (Add-on Acquisition) 1 of 3
State (Virginia) 2 of 2
Country (United States) 2 of 4
Year (2021) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-08-03 Syniti

Needham, Massachusetts, United States

Syniti engages in information governance and data stewardship solutions, focusing on helping customers manage one of their most critical assets data. Syniti products and services enable organizations to accelerate growth, gain actionable visibility, and reduce risks. Syniti was founded in 1996 and is based in Needham, Massachusetts.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-12-01 Finalsite

Glastonbury, Connecticut, United States

Finalsite is a SaaS-based learning and communications platform for K-12 independent and public schools and higher education institutions in the U.S. and internationally. The platform manages all aspects of a school’s web presence and facilitates the distribution of digital content across school communities and in classrooms via a proprietary, SaaS-based software suite accessed through desktops and mobile devices. Finalsite was founded in 1998 and is based in Glastonbury, Connecticut.

Sell -