Author Archives: admin
CoVant Management and Madison Dearborn Partners
to Seek Investments in Federal Government Technology Services and Solutions Sector
McLean, VA and Chicago, IL, April 30, 2012 – CoVant Management II and Madison Dearborn Partners, LLC announced today that they will work together to identify and secure equity investments in the federal government technology services and solutions market. They will pursue investments through a vehicle called CoVant Technologies II LLC that will work to develop multiple platform companies focused on high-potential federal market segments.
CoVant Technologies II will build on CoVant Management’s expertise in the federal government services market and Madison Dearborn’s long-standing focus on technology-enabled services companies and experience with companies that work with the federal government. CoVant Management Co-Founder, Chairman and Chief Executive Officer Joseph Kampf and his colleagues will work closely with Madison Dearborn Managing Director Doug Grissom and his Business and Government Services team. Together, they will focus on high-growth areas within the federal government market, including IT, information/cyber-security, intelligence, mission support services, and systems engineering and integration.
CoVant Management is a Virginia-based partnership created by former executives of Anteon International, a private-equity backed government technology services company that was sold to General Dynamics Corp. in 2006 for $2.2 billion. In 2008, CoVant Management helped lead another private equity investment in A-T Solutions. CoVant Management is led by Joseph Kampf, the former Anteon CEO and current Chairman of A-T Solutions.
“CoVant Management is very excited to join with Madison Dearborn. Their excellent reputation and substantial resources complement our backgrounds and talents well,” said Mr. Kampf. “Our industry is entering a period of transition and we believe change creates opportunity. As we have in the past, we will look for great companies that can benefit from our unique operational experience and access to capital to build more value for their customers, employees and shareholders.”
“We are pleased to be working with Joe and his team to invest in what is a dynamic and critically important industry,” said Mr. Grissom. “CoVant Management shares our strategic vision and, importantly, our culture and values – all of which we think will be compelling to strong management teams looking to build and grow companies in this sector.”
In addition to representatives of CoVant Management and Madison Dearborn, the board of CoVant Technologies II will include five executives who have extensive federal government expertise. These individuals are:
- Dr. William Perry, former U.S. Secretary of Defense and Professor Emeritus in the School of Engineering at Stanford University.
- General H. Hugh Shelton, USA (Ret.), former Chairman of the Joint Chiefs of Staff, who served two terms as the nation’s principal military advisor to the President of the United States, the Secretary of Defense and the National Security Council.
- General Paul Kern, Jr., USA (Ret.), former commanding general of the U.S. Army Materiel Command who currently serves as a Senior Counselor of The Cohen Group.
- Dr. Paul Kaminski, former U.S. Under Secretary of Defense for Acquisition and Technology and current Chairman of the Defense Science Board.
- Mr. Gilbert Decker, former President and Chief Executive Officer of the Penn Central Federal Systems Company and former Assistant Secretary of the Army for Research, Development, and Acquisition, who currently serves on the Board of Army Science & Technology at the National Academy of Sciences.
About CoVant Management
Founded by former executives of Anteon International, CoVant Management invests in and provides strategic, financial and operational resources to a portfolio of companies specializing in technology and related solutions that serve the needs of government customers. With an experienced team of business executives and a respected board of former government and military leaders, CoVant Management delivers a unique and highly strategic approach to maximizing company growth and value. Visit www.covant.com for more information.
About Madison Dearborn Partners
Madison Dearborn Partners, based in Chicago, is one of the most experienced and successful private equity investment firms in the United States. Since Madison Dearborn’s formation in 1992, the firm has raised six funds with aggregate capital of over $18 billion and has completed approximately 120 investments. Madison Dearborn invests in businesses across a broad spectrum of industries, including basic industries; business and government services; consumer; financial services; health care; and telecom, media and technology services. Its noteworthy investments include Asurion, CDW, Fieldglass, MetroPCS, Nuveen Investments, TransUnion, and Yankee Candle. For more information, please visit www.mdcp.com.
# # #
Chuck Dohrenwend, The Abernathy MacGregor Group, 212-371-5999