M&A Deal Summary

Veritas Capital Acquires APTIM

On February 28, 2017, private equity firm Veritas Capital acquired engineering company APTIM from CB&I for 755M USD

Acquisition Highlights
  • This is Veritas Capital’s 1st transaction in the Engineering sector.
  • This is Veritas Capital’s 14th largest (disclosed) transaction.
  • This is Veritas Capital’s 20th transaction in the United States.
  • This is Veritas Capital’s 1st transaction in Texas.

M&A Deal Summary
Date 2017-02-28
Target APTIM
Sector Engineering
Buyer(s) Veritas Capital
Sellers(s) CB&I
Deal Type Divestiture
Deal Value 755M USD

Target

APTIM

The Woodlands, Texas, United States
website
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.

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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 21 of 40
Sector (Engineering) 1 of 1
Type (Divestiture) 10 of 18
State (Texas) 1 of 2
Country (United States) 20 of 38
Year (2017) 1 of 2
Size (of disclosed) 14 of 22
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-25 Cotiviti

South Jordan, Utah, United States

Cotiviti is a healthcare service provider that leverages data analytics and technology to limit costs and ensure regulatory compliance for various stakeholders in the healthcare industry, including payors, providers, and employers. Cotiviti's deeply embedded analytic and predictive modeling solutions, complemented by deep subject matter expertise, empower clients to maximize profitability through cost reduction while improving the quality of healthcare, enhancing the patient experience and assuring appropriate and compliant reimbursement. Cotiviti is based in South Jordan, Utah.

Buy $820M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-28 Peraton

Herndon, Virginia, United States

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.

Buy $690M

Seller(S) 1

SELLER

CB&I

S-Gravenhage, Netherlands

website

Category Company
Founded 1889
Sector Engineering
Revenue 12.9B USD (2015)
DESCRIPTION

CB&I is an engineering and construction company specializing in the design and engineering, fabrication, field erection, and repair of bulk liquid terminals, storage tanks, process vessels, low temperature and cryogenic storage facilities and other steel plate structures and their associated systems. CB&I primarily serves customers in the petroleum, petrochemical, chemical, electric and gas utility, pulp and paper and metals and mining industries. CB&I was founded in 1889 and is based in S-Gravenhage, Netherlands.

DEAL STATS #
Overall 2 of 2
Sector (Engineering) 1 of 1
Type (Divestiture) 2 of 2
State (Texas) 1 of 1
Country (United States) 2 of 2
Year (2017) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-27 CB&I Stone & Webster

Boston, Massachusetts, United States

CB&I Stone & Webster, Inc. is a provider of nuclear construction and integrated services businesses.

Sell -
Mergr

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