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Robert Powell, III// July 7, 2017//
Reston-based IT services company NCI Inc. is being bought by an affiliate of H.I.G. Capital LLC for $283 million.
Under the terms of a definitive agreement, H.I.G. will commence a tender offer no later than July 17 to acquire all outstanding shares of NCI’s common stock for $20 per share in cash. NCI’s board of directors has unanimously approved the transaction.
“This partnership with H.I.G. Capital will offer NCI an opportunity to accelerate our growth strategy; enhance our delivery of premier solutions to our customers, including the use of artificial intelligence and agile software development to increase the speed, productivity and capability of their missions; and create new opportunities for our employees,” Paul A. Dillahay, the president and CEO of NCI, said in a statement.
H.I.G. Capital is a private equity investment firm with $21 billion of equity capital under management.
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