The National Capital region is home to an extremely active business and dealmaking community. And, with a large number of government contractors, consultants and IT providers that service the public sector, it’s not unusual to see large deals done due to political changes, shifting government priorities and the creation of new missions and mandates.
There are many reasons why companies acquire other companies in the National Capital region. They may be looking to add new capabilities to their portfolio of services to help them better align with shifting government requirements. They may be looking to acquire a company with deep relationships and business into different agencies or sectors of the federal government. The disparate possibilities and reasons are almost unlimited. But regardless of why acquisitions and mergers are done – the National Capital Region bears witness to many of them – especially right now.
With a new administration in place that campaigned on a platform that included increased investment into infrastructure and the military, there has been incredible consolidation and deal activity in the government contracting space – as large firms look to better position themselves to compete for those dollars. One of those large firms making strategic investments in this environment was General Dynamics (GDIT), which acquired information technology services provider, CSRA.
The acquisition of CSRA was a deal worth $9.6 billion, which included GDIT acquiring all outstanding shares of CSRA for $6.8 billion while assuming $2.8 billion in CSRA debt. Completed after fending off a late attempt by CACI to acquire the company, the acquisition resulted in a government contracting giant that shot to the top of the 2018 Washington Technology Top 100 List of largest government contractors.
The CEO that oversaw the company’s sale to GDIT was Larry Prior, the former CEO and president of CSRA. According to Larry, “[CSRA’s] combination with General Dynamics represents an excellent outcome for CSRA’s stockholders, employees and customers. It builds on strong shared values, culture and a passion for serving our customers’ missions.”
But the acquisition of CSRA by GDIT wasn’t the first deal that Larry navigated. CSRA was not around for a long time prior to its acquisition. In fact, the company only came together in 2015 when CSC entered into a definitive agreement to combine its government services unit, Computer Sciences Government Services (CSGov), with SRA. The resulting company was immensely successful and quickly rose to be the 39th largest defense contractor on the annual Defense News Top 100 list.
His past accomplishments navigating and closing immensely large and successful deals establishes Larry as a titan of government contracting and dealmaking. And Larry will be joining a panel of other former CSRA executives at the ACG National Capital Monthly Meeting on July 20, 2018 to bring all of his knowledge and experience to ACG members and their guests. Joining Larry for this panel discussion are:
- Larry Prior, former CSRA President and CEO
- Dave Keffer, former CSRA EVP and CFO
- Adam Sheipe, former CSRA VP and Head of Corporate Development
- Moderator: Barry Landew, CEO of Wolf Den Associates
If you do business in the National Capital region – regardless of industry – you can benefit from sitting under the learning tree of Larry Prior, one of the region’s most successful business minds. For additional information on the upcoming July Monthly Meeting – featuring Larry Prior and other executives at CSRA – click HERE.