Carlyle to buy Booz Allen’s government business
May 19, 2008 8:27 AMThe Carlyle Group is buying the majority stake of the U.S. government business of McLean-based Booz Allen Hamilton for $2.54 billion.
The deal is the Washington hedge fund’s first major buyout since the credit markets collapsed. Carlyle manages $81.1 billion in assets in more than 60 funds.
Under the plan, Booz Allen will split its U.S. government and commercial global businesses, allowing the commercial business to run as a standalone company. Booz Allen provides technology and engineering advice. Its government clients include NASA and the Department of Homeland Security.
The deal is expected to close later this year and is subject to shareholder and regulatory approval.
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