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Serco Buys PE-Backed Defense Contractor For $295M
Law360 (February 16, 2021, 7:46 PM EST) U.S. Department of Defense contractor Serco s North American unit said Tuesday it is planning to snatch up private equity-backed fellow contractor WBB for $295 million to expand its offering of professional, technology and management services.
Serco Inc. said in a news release it is buying Whitney Bradley & Brown Inc. from alternative investment manager H.I.G. Capital LLC, which is working with Paul Hastings LLP. WBB s roughly 1,000 employees will join Virginia-based Serco s more than 8,000 hires in the Americas and increases its artificial intelligence, machine learning, data analytics and cyber consulting abilities, according to the press release.