On November 16, Falls Church, VA-based PAE announced that its subsidiary has entered into a definitive agreement to acquire Metis Solutions Corporation, a leading provider of intelligence analysis, operational and tactical training and program management, for approximately $92 million in cash. This represents a transaction multiple of approximately 9.7x CY2020 adjusted EBITDA, adjusted for estimated annual cost synergies.
PAE President and CEO John Heller commented, “This acquisition expands and builds scale in intelligence analysis, training and program support, all of which are well-funded market areas of the U.S. government and our allied nations. Moreover, the acquisition of Metis is expected to be accretive to adjusted EBITDA margins and free cash flow. Additionally, in combination with CENTRA Technology, PAE will have significant breadth and depth across the Intelligence and National Security communities in capability and customer access.”
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