Carlyle Agrees to Acquire ManTech for $4 Billion
- Barry Adams
- U.S.A. New York City
-
ManTech International, the defense contractor with a backlog of $10 billion, agreed to be acquired by Carlyle Group for $4.2 billion.
ManTech International jumped 15.2% to $94.39 after the defense contractor agreed to be acquired by Carlyle Group for $4.2 billion.
The all-cash offer of $96 a share represents 32% premium to $72.82 a share before the first media report indicating an impending offer or 17% to the closing price of $81.97 on May 13, 2022.
ManTech is headquartered in Herndon, Virginia and employs about 9,800 people and expects to generate 2022 revenues of $2.65 billon.
The defense contractor's portfolio of services include full-spectrum cyber security, intelligent systems engineering, advanced data analytics, and secure mission and enterprise IT, according to an investor presentation by the company.
The company has a backlog of $10.3 billion of orders and $6 billion of proposals in the pipeline at the end of March 2022.
In 2021, the company reported $2.55 billion in revenues and net income of $137 million or $3.37 a share.
Annual Returns
| Company | Ticker | 2025 | 2024 | 2023 |
|---|---|---|---|---|
| ManTech International Corporation | MANT | 0% | 0% | 0% |
| The Carlyle Group L P | CG | 1% | 23% | 35% |