Carlyle Group affiliate sells $10 million shares of Booz Allen stock, shedding its majority stake

Booz Allen Hamilton Holding Corp. in McLean has announced the sale of 10 million shares of Class A common stock by an affiliate of The Carlyle Group, a Washington, D.C.-based private equity group.

Combined with an agreement by Booz Allen to repurchase another 1 million shares of Class A stock, the two transactions will reduce Carlyle’s majority stake in the defense contracting company to about 37 percent.

The last reported sale price of Booz Allen’s Class A common stock on Nov.  5, was $26.31 per share. That means Carlyle could make just over $263 million on the transaction.

Booz Allen said in its announcement that J.P. Morgan Securities LLC will offer for sale the shares from time to time in one or more transactions on the New York Stock Exchange, in the over-the-counter market and through negotiated transactions.

In addition, Booz Allen has agreed to repurchase 1 million shares of its Class A common in a private, non-underwritten transaction. The closing of the  stock repurchase is contingent on the closing of the underwritten offering and is expected to close concurrently on or about Nov. 12.

Booz Allen Hamilton provides management consulting, technology, and engineering services to the U.S. government in defense, intelligence, and civil markets, and to major corporations, institutions and not-for-profit organizations. The company employs more than 22,000 people, and had revenue of $5.48 billion for the 12 months that ended on March 31.