Rockville, MD, July 29, 2004/PRNewswire/ -- Aronson Capital Partners, LLC, (ACP) merger and acquisition advisors to the defense and government services industry, announced today that it completed the sale of McNeil Technologies, Inc. (McNeil) to The Veritas Capital Fund II, L.P. (“Veritas Capital”). ACP served as the exclusive advisor and initiated and structured this transaction on behalf of McNeil.
“Private equity sponsors such as Veritas Capital can present a compelling option to owners of private companies by enabling them to achieve significant liquidity yet retain a meaningful equity stake and remain actively engaged in their businesses”, remarked John Saunders, Managing Partner of Aronson Capital Partners. “McNeil has a significant presence in the national security market place and therefore had multiple options from which to choose. Veritas Capital’s proposal and its exceptional record of success as a partner to companies in this sector were both very attractive to our client.”
With an exclusive focus on the government contracting industry, Aronson Capital Partners is one of the most active advisors in this market sector. This sale marks the fifth transaction completed by ACP in 2004 and the firm has several transactions in process.
James McNeil, President & CEO of McNeil Technologies commented that, “Aronson Capital Partners exceeded our expectations not only in terms of the financial results they achieved but in the high level of service they provided throughout the process. Their knowledge of our industry and transaction experience was invaluable.”
Aronson Capital Partners, LLC (“ACP”) is a leading provider of M&A advisory services to privately held companies in the federal sector. With more than 60 years of combined industry experience, the principals of ACP have a proven track record of completing successful transactions with middle-market companies. Securities transactions are executed by Aronson Capital Advisors, LLC (member NASD-SIPC) an affiliate of ACP.
McNeil is a leading provider of professional and technical services to the national security market. Founded in 1985, by Chairman & CEO James McNeil, the company has grown to over 1,000 employees.
Veritas Capital is a private equity investment firm headquartered in New York that partners with experienced and motivated management teams to acquire and develop middle market companies.