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The top five concerns when selling or acquiring an entity with government contracts

April 22, 2021 By Nancy Cleveland

Contract review is one of the most onerous (and important) processes in any due diligence process when buying or selling a company.  We all know that those contracts are the backbone of many businesses- they document the relationships and operations of the business and are often the value of what a buyer is purchasing.  This review process can get complicated when the selling entity has government contracts that may be governed by special rules known as the Federal Acquisition Regulations System (“FAR”).  The FAR was established to set forth uniform policies and procedures for acquisition by all executive branch agencies.

Individual agency acquisition regulations may implement or supplement FAR, in addition to internal agency guidance.  For example, the Department of Defense has certain certification requirements in order to establish security clearance for defense contracts.  FAR reminds contractors that the government is acting on behalf of the American taxpayer in procuring goods and services for government agencies, and the individual contract officers act on behalf of the government to ensure that each contract benefits the government.

Buyers, sellers, and their advisors should address government contracts as early in the diligence process as possible in order to expedite any required changes which might delay closing.

Continue reading at:  Pullman & Comley

Filed Under: Contracting Tips Tagged With: FAR, mergers, mergers and acquisitions

Podcast: Creating government contracting opportunities for small businesses

April 7, 2021 By Nancy Cleveland

This week on Amtower Off Center, host Mark Amtower interviewed serial entrepreneur Shirley Collier, president of Scale2Market.

Topics include:

  • How small contractors can create value,
  • What most contractors don’t understand about market value,
  • Getting on the radar of primes for opportunities, and
  • How do you get your company into agencies that are hard to penetrate.

Listen to the Podcast at:  https://federalnewsnetwork.com/amtower-off-center/2021/04/creating-opportunities-for-small-businesses/

 

 

Filed Under: Contracting Tips Tagged With: government contracting, mergers, mergers and acquisitions, podcast

Exit strategies for government contractors with set-aside contracts

March 30, 2021 By Nancy Cleveland

Historically, buyers in M&A transactions have discounted the value of a government contractor with significant revenue from small business set-aside contracts, including contracts for service-disabled veteran-owned, 8(a), HubZone, and woman-owned small businesses.  Is that still the case in 2021?

Watch the videocast here:  https://www.jdsupra.com/legalnews/exit-strategies-for-govcons-with-set-asi-92656/

Filed Under: Contracting Tips Tagged With: mergers and acquisitions, set-aside

M&A pre-flight check: avoiding common issues in aerospace and defense acquisitions

February 22, 2021 By Nancy Cleveland

As anyone who follows the industry can tell you, mergers and acquisitions activity in the aerospace and defense industry has remained robust over the past decade.  In 2019 alone, there were 460 corporate acquisitions in this sector.  And while a slowdown in 2020 deal activity is certainly expected as a result of the COVID-19 pandemic, results for at least the second quarter remained strong, with 84 deal closings.  Further, analysts project that activity in certain subsegments of the industry, including defense, space technology, and cybersecurity, will remain vigorous for the foreseeable future, at least partially offsetting any declines in commercial aerospace transactions.

But much like the machines they produce, acquiring an A&D company is complex and requires a significant investment of both time and money to be done properly.  So just as a pilot would perform a pre-flight check before takeoff, there are steps that a savvy buyer or seller of an A&D company can take to give themselves the best chance of a successful and smooth closing.  This article aims to provide you a primer on some of these steps by examining some of the most common issues that arise in A&D transactions to give you a leg up on your transaction.

Continue reading at:  National Law Review

Filed Under: Contracting Tips Tagged With: aerospace, defense contractors, mergers and acquisitions

Raytheon and United Technologies plan to merge

June 13, 2019 By Nancy Cleveland

Over the weekend, defense contractor Raytheon and aerospace company United Technologies announced that they plan to merge.  They’re calling it a “merger of equals,” an all-stock deal that would result in a new company, Raytheon Technologies.

If the deal makes it past regulators, the $100 billion company would become the second-largest aerospace and defense company in the U.S., behind Boeing.  The companies say the proposed merger’s important for them to keep their balance in shifting markets.  “They’re looking at it, in this acquisition, truly as a long-term view that this combined company will be able to ride the ups and downs of the markets,” said Doug Gates, head of aerospace and defense for KPMG.

Continue reading at:  Marketplace.org

Filed Under: Contracting News Tagged With: mergers, mergers and acquisitions, Raytheon, United Technologies

Deal-making accelerates as federal contractors jockey for spending

March 1, 2018 By Nancy Cleveland

For the first time in a while, investors are betting big on “big government.”

The federal services market has experienced a jolt of dealmaking activity in recent months as companies position themselves to capture new government spending, breathing life into a sector that has been sluggish for years.

In late January, fast-growing technology contractor ECS Federal was bought for $775 million by On Assignment, a California-based recruiting firm with little experience in the federal market. In the same week, Lockheed Martin spinoff PAE bought the firm Macfadden & Associates in a move that was largely viewed as an effort to consolidate amid shifting budgets.

Meanwhile, Falls Church, Va.-based defense giant General Dynamics upped the ante last week when it announced a $6.8 billion agreement to buy CSRA, one of the largest government IT services firms. Also last week, two private equity firms added to their stable of federal contractors: Veritas Capital is acquiring the government business of PricewaterhouseCoopers; and Arlington Capital Partners is buying a small engineering services firm called Integrity Applications.

Keep reading this article at: https://www.washingtonpost.com/business/capitalbusiness/dealmaking-accelerates-as-federal-contractors-jockey-for-spending/2018/02/18/1c707acc-1343-11e8-9065-e55346f6de81_story.html

Filed Under: Contracting News Tagged With: appropriations, consolidation, mergers and acquisitions, spending

Recent Posts

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