NEW YORK, June 1 /PRNewswire/ -- Veritas Capital, a leading private equity firm with a focus on companies that provide services and products to the government market, today announced the acquisition of Kroll Government Services, Inc. from Kroll, Inc., a subsidiary of Marsh & McLennan . In conjunction with the transaction, Kroll Government Services, Inc. has been renamed KeyPoint Government Solutions, Inc. Financial terms of the transaction were not disclosed.
KeyPoint is a leading provider of security-clearance background investigations and employment screening services to U.S. government agencies, also providing related investigative, monitoring and fraud prevention services helping such agencies ensure the integrity of these processes. KeyPoint's highly qualified and experienced employees serve U.S., state and local government customers including the Office of Personnel Management, the Department of Homeland Security, the Transportation Security Administration, Customs and Border Protection, Immigration and Customs Enforcement, Citizenship and Immigration Services, the Department of Justice, the US Coast Guard, the Army National Guard and the Los Angeles Police Department, among others.
"The acquisition of KeyPoint Government Solutions is consistent with our strategy of investing in strong companies that perform mission critical functions for the U.S. Government," said Veritas Capital Founder and Chairman Robert McKeon.
"We welcome KeyPoint, the critical work it does, and its talented management team led by Jeff Schlanger to the Veritas portfolio of companies."
Mr. Schlanger, who will continue to lead the firm as Chief Executive Officer, said, "We are very enthusiastic about the prospect of conducting business as a stand-alone operating company with the support of Veritas Capital, the preeminent private equity firm focused on the government services sector. Aligning with Veritas and its impressive portfolio of government services companies, resources and strategic guidance will provide KeyPoint an opportunity to further grow and diversify our business platform. There is an increasing U.S. Government need for investigative and fraud, waste and abuse prevention services; KeyPoint is extremely well positioned to provide the highly effective integrated solutions that protect the integrity of our clients' most crucial processes."
Veritas Capital's McKeon concluded, "We are focused on growing KeyPoint organically -- through new contract wins -- as well as via acquisitions that fit KeyPoint's core competencies with the overriding objective of further enhancing the quality of service that can be offered to KeyPoint's government clients."
The transaction was subject to Hart-Scott-Rodino review. About KeyPoint Government Solutions
KeyPoint Government Solutions is a leading provider of security-clearance background investigations and employment screening services to U.S. government agencies such as the Office of Personnel Management and the Department of Homeland Security. KeyPoint also provides related investigative, monitoring and fraud prevention services helping such agencies ensure the integrity of their crucial processes. Founded in 2003 as a unit of Kroll, KeyPoint became a Veritas Capital portfolio company in 2009. The Company is based in Loveland, CO with offices in Reston, VA, Los Angeles, CA and New York, NY.
About Veritas Capital
Founded in 1992, Veritas Capital is the leading private equity firm focused on investing in companies that provide services and products to governments around the world. Veritas' portfolio of companies, which generate annual revenues of approximately $5.5 billion and employ more than 45,000 people in 35 countries, includes DynCorp International, Vangent, Inc., Aeroflex, Inc., McNeil Technologies, CRGT, Inc. and Global Tel*Link. Former Veritas portfolio companies include Vertex Aerospace, Integrated Defense Technologies, and Athena Innovative Solutions, among others. The Veritas portfolio companies are dedicated to providing the highest level of critical services and products to the U.S. government and other customers around the world. For more information, please visit http://www.veritascapital.com/.
Veritas Capital
CONTACT: Lawrence Budgar, Burson-Marsteller, +1-212-614-4140,
Lawrence.budgar@bm.com
Web Site: http://www.veritascapital.com/
