- CoVant Acquires A-T Solutions Inc. in First Transaction - MCLEAN, Va., March 5 /PRNewswire/ -- CI Capital Partners LLC, aNew-York- based private investment firm, and a group of executives led byJoseph Kampf, former President and Chief Executive Officer of AnteonInternational, today announced the formation of CoVant Technologies LLC, aplatform designed to make investments in government technology solutionscompanies in the defense, homeland security and intelligence communities.CI Capital and CoVant management have committed $200 million in equity tothe new enterprise. In addition, CoVant has completed the acquisition ofA-T Solutions, Inc. of Fredericksburg, Virginia, the firm's firstacquisition. Financial terms of the deal were not disclosed. CI Capital Partners acquired Anteon International in a $47.5 millionleveraged buyout in 1996. Under Mr. Kampf's leadership and with the supportof the Anteon board, Anteon increased its revenue from $142 million in 1996to over $1.7 billion in 2006, becoming one of the leading informationtechnology, systems engineering and technology solutions providers togovernment agencies. CI Capital Partners and management took Anteon publicin 2002 and subsequently sold the Company to General Dynamics in a $2.2billion transaction. CoVant will act as an investment platform in its sector, bringingfinancial resources, strategic guidance and management expertise toemerging companies. Mr. Kampf will serve as CEO of CoVant, with the Boardof Directors and remainder of the leadership team largely comprised offormer board members and top executives of Anteon International. "I am delighted to be re-engaged with my Anteon colleagues and CICapital Partners in this new venture," said Mr. Kampf. "We have a long andhighly successful history of investing in technology businesses thatprovide critical support to defense and defense-related activities. Theseneeds are continually evolving, and we believe CoVant can providesubstantial support." "Our first partnership with Joe and his team, Anteon International, washighly successful as Anteon quickly became recognized as a leader in thegovernment technology services sector," said Fred Iseman, Chairman of CICapital Partners. Steven Lefkowitz, President of CI Capital Partners, said,"We are delighted to once again be partnering with this team as they bringtheir experience, focus and talent to growing companies in this sector." CoVant's board of directors includes former Anteon directors Dr.William J. Perry, former Secretary of Defense; General Hugh Shelton (USAret.), former Chairman of the Joint Chiefs of Staff; General Paul Kern (USAret.), former commander of the Army Material Command; Dr. Paul Kaminski,former Under Secretary of Defense for Acquisition and Technology; andGilbert F. Decker, former Assistant Secretary of the Army for ResearchDevelopment and Acquisition. CoVant Acquires A-T Solutions A-T Solutions, a rapidly growing, privately-held business, is thepremier provider of analytical and training solutions for the detection,identification and defeat of improvised explosive devices (IED) and weaponsof mass destruction (WMD). With approximately 200 subject matter experts,the company is the largest single supplier of IED related training servicesto the U.S. Departments of Defense and Homeland Security. The A-T Solutions management team is retaining a significant equityposition and will continue to provide operating management of the company'sbusiness. Mr. Kampf, Gen. Shelton and Steven Lefkowitz of CI CapitalPartners will join the A-T Solutions' board of directors. "A-T Solutions' mission is to combat terrorism abroad and at home,"said Mr. Kampf. "I have every confidence that the combination of A-TSolutions' technical expertise and commitment to mission and CoVant'sfinancial resources and management expertise will create significant valuefor our customers, employees and shareholders." "We are extremely pleased to be joining forces with CoVant," said KenFalke, founder and CEO of A-T Solutions. "With the continuing proliferationof IEDs as the weapon of choice for terrorism worldwide, the demand for ourservices has been growing at a challenging pace. I strongly believe thatour partnership with CoVant will bring both the financial resources andhighly relevant operational experience necessary to keep pace with ourcustomers' needs." "A-T Solutions is known for its excellence in providing a criticalservice to the Departments of Defense and Homeland Security," said Mr.Lefkowitz. "With the financial and operational support of CoVant, A-TSolutions will be well positioned to enhance and expand the services itprovides." Advising CoVant on the transaction were law firms Paul Weiss RifkindWharton & Garrison, Arnold & Porter, and Jenner & Block. Advising A-TSolutions was investment banking firm The JIAN Group. About A-T Solutions Founded in 2002 in Fredericksburg, VA, A-T Solutions has become theforemost provider of training, education and consulting services to themilitary on explosive ordnance disposal techniques and weapons of massdestruction. The company was named to Entrepreneur Magazine's "hot 500List" as the second fastest growing security company and 20th overallfastest growing company in America. The company also was ranked 13th amongthe fastest growing government services firms by Inc Magazine in 2007.Visit
Contact for CI Capital Partners: David Lilly, Kekst and Company 212-521-4800 Contact for CoVant: Liz Sara, Best Marketing, LLC 202-255-0134
CI Capital Partners Announces Formation of CoVant Technologies LLC
March 05, 2008, 10:30 p.m. EST 5 Min Read
