May 2012
GTSI: The End
McLean Group Principal, Cameron Hamilton, who brokered GTSI’s purchase of Information Systems Consulting Group in August 2011 on behalf of the latter comments on Unicom Systems’ subsequent purchase of GTSI.
Washington Business Journal
May 2012
2012 shaping up to be strong year for M&A
More than 40 local mergers or acquisitions have been announced or completed so far in 2012, including a spate of deals in April and May. “A lot of sellers are looking to cash out before the capital gains tax rises on Jan. 1, 2013, from 15 to 20 percent, which will happen unless Congress extends the Bush-era tax cuts,” says Joe Golden, principal at investment bank The McLean Group.
Washington Business Journal
May 2012
Maritime Mergers & Acquisitions
Mergers and Acquisitions in the American maritime industry are relatively few in number and require careful analysis. It is helpful to examine some overall trends in deal activity and company valuations, and then reflect on some key transactions in a few defining subsectors.
Maritime Professional
March 2012
Using Fairness Opinions to Manage Risk in Middle-Market Transactions
Given the 2008 financial meltdown and the earlier enactment of the Sarbanes-Oxley Act of 2002 (SOX), there is a growing demand for fairness opinions in the middle market. Effectively using fairness opinions created by outside advisors allows board members to demonstrate their careful consideration of different shareholders’ opposing interests when evaluating acquisition and divestiture opportunities.
The CPA Journal
March 2012
40 Under 40 Central Award Winners Announced
McLean Group Principal, Cameron Hamilton was selected a winner of The M&A Advisor’s 3rd annual 40 Under 40 M&A Advisor Recognition Awards—Central Region. Winners will be recognized at the annual awards gala on June 7, 2012.
The M&A Advisor
March 2012
The Pulse
McLean Group Principal, Cameron Hamilton discusses why LLR Partners’ acquisition of a majority of Paragon Technology Group’s assets constituted a unique transaction in which multiple parties (founders, investment bank, new CEO and a private equity buyer) with varying agendas effectively worked together in the best interests of all parties.
Mergers & Acquisitions
February 2012
The Phantom of Pre-Money and Post-Money Valuations
Valuation analysts charged with determining the value of a business looking for venture capital should focus on the terms of the agreement, not the pre-money valuations.
Thomson Reuters' Valuation Strategies
February 2012
From The McLean Group, LLC: How To Create a Strategic Buyers Auction and Acquisition Options Matrix
Proactive buyers can take control of the transaction process by creating a private auction from the information provided in an Acquisition Options Matrix which helps Boards and acquisition teams properly price and locate key strategic acquisition candidates in terms of size, fit and interest in being acquired.
Fairfax County Chamber of Commerce’s Doing Business
February 2012
82 game-changing deals of 2011
According to Washington Technology, The McLean Group played part in seven of the 82 most significant government contracting deals closed in 2011—more than any other investment bank. Of those transactions, National Security Partners’ (a FedCap Partners, LLC holding company) acquisition of Point One was selected “Best Small Business Deal.”
Washington Technology
January 2012
Deal Drivers
A comprehensive review of 2011 M&A throughout the Americas, with an in-depth analysis of recent activity and forward-looking insight from McLean Group Principal, Joe Golden, for the upcoming year.
mergermarket
January 2012
Setting up subsidiaries brings more than liability protection
Mitch Martin comments on the benefits and possible downsides when companies like Ensco include subsidiaries in their restructuring plans.
Washington Business Journal
January 2012
Next Stop For Scott
Scott Friedlander was recently tapped to run Paragon after LLR Partners’ recent purchase of the Vienna, Va.-based biz intel and enterprise integration solutions provider. Investment bank The McLean Group helped Paragon founders sort through offers from strategic acquirers and private equity groups. The firm says the deal is its aerospace, defense & government practice’s first in 2012.
Fed Tech Bisnow
January 2012
Former GTSI CEO Friedlander makes deal for new company
After lots of murmuring in the contracting community, former GTSI Corp. CEO Scott Friedlander landed a new chief executive gig, taking over the helm of Vienna-based Paragon Technology Group as part of an acquisition by private equity firm LLR Partners.
Washington Business Journal’s FedBiz Daily
January 2012
Paragon Tech Group acquired; former GTSI CEO appointed chief executive
Working with the backing of the private equity group LLR Partners, Friedlander has acquired a majority stake in Paragon Technology Group, a government contractor based in Vienna, Va.
Washington Technology
January 2012
Chicagoans Continue Work To Build Children’s Hospital In Haiti
Doctors, builders, architects and relief workers, including Mclean Group Managing Director and senior member of the firm’s Healthcare & Life Sciences Practice, Chuck Andrews, gathered at Children’s Memorial Hospital to discuss efforts to build a new children’s hospital in Haiti. Chuck Andrews, a representative of International Child Care USA, calls the aftermath of the earthquake “both a devastating situation and an opportunity.”
CBS Chicago
January 2012
Chicagoans still helping Haiti earthquake recovery
Such Chicago-area leaders as State Senator Kwame Raoul, staff of Children's Memorial Hospital, and local representatives of Anderson Mikos Architects, Power Construction and International Child Care, including McLean Group’s Chuck Andrews, are eager to raise $35 million in cash to erect a new, world-class children’s hospital in Port Au Prince by the end of 2013. The delegation has been on four trips to Haiti, bringing healthcare, supplies, and now a plan for a new permanent hospital. A press conference was held at Children's Memorial to mark the two year anniversary of the earthquake.
ABC 7 News WLS-TV/DT Chicago, IL
November 2011
TravelClick acquires EZYield
TravelClick has announced its acquisition of EZYield. EZYield’s integrated solutions suite will continue to be offered as standalone solutions and, over time, will also be integrated into TravelClick’s iHotelier central reservation systems, as well as other property management systems (PMS) and central reservations systems (CRM).
Hospitality Technology
November 2011
TravelClick Acquires Channel Management Provider EZYield
TravelClick, a leading global provider of revenue-generating solutions for hoteliers, announced that on Friday, November 4, 2011, the company acquired EZYield, a premier provider of distribution management solutions for hotels.
Hospitality Upgrade
November 2011
Superior offering improves hotels' ability to grow distribution reach and manage reservations electronically
The McLean Group acted as the mergers and acquisitions advisor for EZYield, the leading channel management provider, on its sale to TravelClick, the leading global provider of revenue generating solutions for hoteliers.
The Miami Herald
November 2011
Newmarket International, Inc. Acquires MTech
Newmarket ® International, Inc. today announced that it has acquired MTECH, the leading Software-as-a-Service (SaaS) hospitality automation platform. The purchase of MTECH represents Newmarket International’s unwavering commitment to be the global leader in hospitality and meeting and events.
MarketWatch
October 2011
Movers & shakers: Defense as a service business
For defense dealmakers, one of the best training grounds is the end market in which many of them once actively served: the U.S. armed forces. Military service may provide many disciplines, not to say skills, particularly with advanced electronic equipment and weapons systems, but it also provides a potentially rich network of friends and relationships. That's exactly the case with these three defense dealmakers: Jon Kutler, Anthony Cappetta and Mitch Martin.
The Deal
October 2011
Andy Smith from the McLean Group, LLC and Flat Tax on Blueprint for Wealth
Special guest, Andy Smith of the McLean Group, LLC, joins host Wayne Zell to discuss business valuations on Federal News Radio’s Blueprint for Wealth program.
Federal News Radio
October 2011
Small-Vendor Acquisitions Soar in Hunt for Coveted U.S. Contracts
Small government contractors are being bought at the fastest pace in at least a decade as buyers target vendors holding so-called “multiple-award” contracts that can provide years of federal dollars. General Dynamics Corp. and GTSI Corp. are among the companies that have been most active making acquisitions in expanding or stable contracting sectors such as information- technology, health, intelligence and computer security. In many cases, the acquisitions give the companies access to multiple-award contracts that had been targeted to small businesses.
The Washington Post
October 2011
Clarity Rejects Enigmatic Investments' GBP 9.53 Mln Cash Offer
Software solutions supplier Clarity Commerce Solutions Plc (CCS.L: News ) Tuesday said its board has unanimously rejected the 9.53 million pounds cash offer from Enigmatic Investments Ltd., as it believes that the offer is highly "opportunistic" and undervalues the company and its prospects.
RTT News
August 2011
Computer reseller GTSI making acquisitions to add new services
The acquisition of Fredericksburg, Va.-based Information Systems Consulting Group Inc. is GTSI's boldest move yet to rebrand itself at the tail end of a year that brought a suspension from government contracts and tumbling revenue.
Washington Business Journal
August 2011
Contractors acquiring small firms to get work with defense IT agency
Large contractors are buying up small ones that hold prime spots in the $12 billion Encore II program as they attempt to gain access to the Defense Information Systems Agency, which many believe will be the driving force behind some of the biggest technology initiatives at the Department of Defense.
Washington Business Journal
August 2011
McLean Group Principal, Joe Golden, Interviewed on BDO Seidman Special Edition of Executive Leaders Radio
Executive Leaders Radio speaks to Joe Golden about his rise to his current leadership role and the M&A deal process.
Executive Leaders Radio
July 2011
Boeing to Acquire Solutions Made Simple Inc.
Boeing (NYSE: BA) today announced an agreement to acquire Solutions Made Simple Inc. (SMSi), an Information services provider for the U.S. government and the Intelligence Community. Known for its Twister data integration framework products, SMSi's technology allows users to easily extract, share and query information stored in an unlimited number of data sources and applications.
CityBizList
July 2011
GD Acquires Enterprise Services And Cloud Computing Provider NETCONN
General Dynamics [GD] yesterday said it has acquired Network Connectivity Solutions, Corp. (NETCONN), a small information technology firm that specializes in enterprise and cloud computing services.
Defense Daily
July 2011
Boeing's buy will bolster its C4ISR and cybersecurity portfolio
The Boeing Co. is acquiring Solutions Made Simple Inc. (SMSi), a privately held information services provider to the U.S. government and the intelligence community. Financial terms of the acquisition were not disclosed.
Washington Technology
July 2011
Boeing To Acquire Small IT Firm Focused On Data Access And Management
Boeing [BA] yesterday said it has agreed to acquire a small information technology (IT) firm serving the U.S. government and the intelligence community that specializes in helping its customers access, share, and visualize data.
Defense Daily
July 2011
General Dynamics buys a spot on huge DISA contract
General Dynamics Corp. has acquired Network Connectivity Solutions Corp., a provider of enterprise services and cloud computing to the Defense Department. The value of the cash transaction was not disclosed in the announcement dated July 18, but the deal brings GD access to the Defense Information Systems Agency's Encore II vehicle.
Washington Technology
July 2011
NETCONN-ETED
The McLean Group principal Cameron Hamilton has reason to celebrate this morning: General Dynamics announced the purchase of Hagerstown-based NETCONN Solutions in a deal he brokered.
Fed Tech Bisnow
June 2011
Electronic Consulting Services, Inc. Acquires OAK Management
OAK Management, Inc., a professional services company focusing on providing specialized consulting to the Navy and National Oceanographic and Atmospheric Administration merged with Electronic Consulting Services, Inc. (ECS). ECS is a growing, mid-sized provider of professional engineering and information technology services to the public sector. The McLean Group was the sole mergers and acquisitions advisor to OAK Management.
WashingtonExec
June 2011
MCR acquires JB&A
MCR, LLC, a provider of integrated program management services for the federal government, has acquired JB&A, Inc., a provider of strategic planning, programming and budgeting, manpower analytical support and other professional services to US government agencies.
Financial Tech Spotlight
June 2011
MCR Acquires JB&A, INC.
MCR, LLC, a premier provider of integrated program management services to the federal government, announced today that it has acquired JB&A, INC., a company that provides strategic planning, programming and budgeting, manpower analytical support and other professional services to U.S. government agencies. This deal expands MCR's footprint within Intelligence Community
CityBizList
June 2011
Double Deals
The McLean Group announced the closing of two deals this week repping professional services firm OAK Management in its sale to engineering and IT services firm Electronic Consulting Services Inc. and shepherding Falls Church-based JB&A through its purchase of McLean-based MCR. Mum’s the word on how much the deals were worth.
Fed Tech Bisnow
May 2011
Intangible Property Drives Business Value
Recent surveys indicate many business owners don’t have a clear understanding of how to value intangible property, so it’s important that valuators educate the owners they work with. The three ways of assessing the value of intangible property are the cost approach, the market approach, and the income approach.
NACVA Ambassadors' QuickREAD
May 2011
This Morning in Vienna
Panelists from The McLean Group, FedCap Partners, Sheppard Mullin, Monumental Capital Group, and Relativity Capital discuss how private equity is altering the landscape for lower middle market deals in the defense and government services market.
Fed Tech Bisnow
May 2011
SRA proceeds with plan to go private
Fairfax-based contracting giant SRA International is moving forward with its plan to go private and be acquired by Providence Equity Partners after receiving no alternative proposals during a “go-shop” period.
Washington Post’s “Capital Business”
April 2011
Heavy Hitters
Yesterday, we were at Nats Stadium to catch the pre-game show— Valiant's executive development speaker series—and ran into this starting lineup from The McLean Group. Managing director Greg Boucher and principals Cameron Hamilton and Mitchell Martin are busier than ever putting together M&A transactions for cyber security, intelligence, and health care IT companies.
Fed Tech Bisnow
April 2011
The Art of Agreeing to Disagree
Andy Smith and Brian Sullivan explain how differing perspectives between clients and valuation practitioners is often a good thing.
Financial Valuation and Litigation Expert
April 2011
Private equity’s new target: government contractors
Providence Equity Partners LLC's acquisition of SRA International Inc. is just one of many recent government contracting acquisitions by private equity firms. While private equity firms typically buy low hoping to sell high a few years later, their acquisitions of federal contractors appear to be more strategic.
Washington Business Journal
March 2011
Dynamic Defense and Government Services Market Creates Opportunities for Valuation Practitioners
By the end of 2010, M&A activity in the defense and government services sector had risen to a level not seen since the 2006-2007 peak. Increasing M&A activity always drives demand for business valuation practitioners as both buyers and sellers require valuation professionals to perform such services as transaction fairness opinions, purchase price allocations, goodwill impairment tests, and general equity appraisals.
Business Valuation Update
March 2011
Former Ericsson unit establishing its own identity
The federal arm of Swedish telecommunications firm Ericsson has been bought by a private-equity firm and renamed Oceus Networks. The Reston-based company is seeking to establish its new brand, significantly boost its staff and make acquisitions to extend its reach.
Washington Post’s “Capital Business”
February 2011
Built-In Gains: S Corporations and the Sale of Appreciated Assets
Ringgold Telephone Co. provides insight to IRS concerns and examines best practices to use when valuating appreciating assets that will likely be sold shortly after valuation.
Thomson Reuters’ Valuation Strategies
February 2011
South African operating challenges seen making US multinationals open to divestments – analysis
Some US companies operating in South Africa may be open to restructuring pitches in the wake of operating challenges and other emerging market opportunities. "However, uncertainties around labour and black economic empowerment (BEE) are among the factors that may shape the investment decisions of US companies in Africa's biggest economy in future," sources have said.
mergermarket
February 2011
Midsized contractors like SRA International often have no choice but to be acquired
Midsized government contractors face a conundrum: They’re too large to win federal opportunities set aside for small businesses, but too small to compete head-to-head against the big boys. For many, the alternative is to buy or be bought.
Washington Business Journal
January 2011
Deal Drivers
A comprehensive review of North American M&A in 2010, with an in-depth analysis of recent activity and forward-looking insight for the upcoming year.
mergermarket
January 2011
Eye to Eye
Dennis Roberts shares how he runs a successful investment bank by communicating short- and long-term goals that motivate employees.
SmartCEO
January 2011
Private-equity firms grab divested defense units
The government's growing interest in avoiding conflicts of interest when it hires companies that provide multiple services has created a new crop of private-equity owned contractors.
Washington Post’s “Capital Business”
January 2011
The Downer of “Down Round” Financing
Down round financing is a round of financing where investors purchase stock from a company at a lower price than prior investors paid. The devaluation of the company stock is necessary to attract funding to continue operations, but results in the dilution of ownership for existing owners. Therefore, it’s essential that board members understand the financial terms and fiduciary duties in a down round, and educate themselves on how opinions or other third party valuation analysis can be provided to help support the reasonableness of the terms of the down round.
NACVA Ambassadors' QuickREAD
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