M&A Deal Summary

KBR Acquires LinQuest

On July 16, 2024, KBR acquired information technology company LinQuest from Madison Dearborn Partners and CoVant Management for 737M USD

Acquisition Highlights
  • This is KBR’s 5th transaction in the Information Technology sector.
  • This is KBR’s 2nd largest (disclosed) transaction.
  • This is KBR’s 10th transaction in the United States.
  • This is KBR’s 2nd transaction in California.

M&A Deal Summary
Date 2024-07-16
Target LinQuest
Sector Information Technology
Buyer(s) KBR
Sellers(s) Madison Dearborn Partners
CoVant Management
Deal Type Add-on Acquisition
Deal Value 737M USD
Advisor(s) Robert W. Baird & Co., Inc. (Financial)
Kirkland & Ellis (Legal)

Target

LinQuest

Los Angeles, California, United States
LinQuest provides U.S. defense and intelligence communities with space systems technology solutions, including large-scale systems engineering & integration, software and cyber systems development, complex systems modeling & simulation, data analytics, and turnkey mission solutions. LinQuest was founded in 2004 and is based in Los Angeles, California.

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Buyer(S) 1

Buyer

KBR

Houston, Texas, United States
Category Company
Founded 1901
Sector Engineering
Employees30,000
Revenue 7.0B USD (2023)
DESCRIPTION
Jefferson Towers, home of KBR's corporate headquarters in downtown Houston, Texas.
Jefferson Towers, home of KBR's corporate headquarters in downtown Houston, Texas.

KBR is an engineering, construction, and services company supporting the global hydrocarbons and international government services market segments. The company offers a portfolio of proprietary technology and consulting services; engineering, construction, procurement, and asset maintenance services; and base operational, logistics, life support, and asset management services, through its technology & consulting, engineering & construction, and government services business segments. KBR was founded in 1901 and is based in Houston, Texas.

DEAL STATS #
Overall 20 of 20
Sector (Information Technology) 5 of 5
Type (Add-on Acquisition) 13 of 13
State (California) 2 of 2
Country (United States) 10 of 10
Year (2024) 1 of 1
Size (of disclosed) 2 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-03-23 Acetica

United States

Acetica is an acetic acid production technology.

Buy -

Seller(S) 2

SELLER

Madison Dearborn Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 1992
PE ASSETS 28.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Madison Dearborn Partners (MDP) is a large private equity firm that targets buyouts of private or publicly held companies, divestitures of larger companies, recapitalizations of family-owned or closely-held companies, acquisition-oriented financings, and financings to fund internal growth. MDP's target investment size is $100 to $600 million in buyout oriented transactions and $100 to $400 million in growth capital commitments. Areas of interest include basic industries (natural resources, chemicals, energy and power, automotive, building products, food, metals and mining, refining, paper, packaging and forest products, and general manufacturing), as well as communications, consumer products/services, financial services, and healthcare. Madison Dearborn Partners was formed in 1992 and is based in Chicago, Illinois.

DEAL STATS #
Overall 73 of 74
Sector (Information Technology) 7 of 7
Type (Add-on Acquisition) 33 of 34
State (California) 10 of 10
Country (United States) 65 of 66
Year (2024) 1 of 2
Size (of disclosed) 18 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-27 Omni Federal

Washington, District of Columbia, United States

Omni Federal is a provider of innovative and intuitive mission and enterprise software solutions to the U.S. Department of Defense (DoD) and Intelligence Community (IC). Omni Federal was formed in 2017 and is based in Washington, District of Columbia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-08-01 Kaufman Hall & Associates

Chicago, Illinois, United States

Kaufman, Hall & Associates provides management consulting services and enterprise performance management software to enable data-driven analysis and transform financial, operational, and strategic planning and results. Kaufman, Hall & Associates was formed in 1985 and is based in Skokie, Illinois.

Sell -
SELLER

CoVant Management

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2007
Size Small
Type Sector Focused
DESCRIPTION

CoVant is a private investment group that generally looks to partner with management and other sponsors to pursue divestitures and buyout opportunities across the US. The Firm was formed in 2007 and is headquartered in McLean, Virginia.

DEAL STATS #
Overall 4 of 4
Sector (Information Technology) 3 of 3
Type (Add-on Acquisition) 4 of 4
State (California) 1 of 1
Country (United States) 4 of 4
Year (2024) 1 of 1
Size (of disclosed) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-03-09 AEVEX Aerospace

Solana Beach, California, United States

AEVEX Aerospace is a full-spectrum airborne intelligence solution with capabilities span three business units: Intelligence Solutions, Flight Operations, and Engineering & Technology. The company provides agile and customized approaches to the full spectrum of airborne intelligence collection needs. It supports projects both large and small, including turn-key contractor-owned, contractor-operated (COCO), government-owned, contractor-operated (GOCO), and contractor-owned, government-operated (COGO) services to the DoD, other government agencies, and commercial businesses. AEVEX Aerospace is based in Solana Beach, California.

Buy -
Mergr

Product

Company

Legal