Aronson article on Defense Private Equity

Philip McMann from Aronson Capital Partners has posted an article about the increasingly important role of private equity firms in the Defense and Government Technology Services market. I feel like citing the entire thing, but just go read it for yourself. He highlights the creation of Anteon by Caxton-Iseman as a textbook case in the successful marrying of the strategic investor to a platform growth strategy in action (led in that case famously by Joseph Kampf). Probably the bottom line is a passage describing the profile of a successful private equity transaction in this sector as the following:

In contemplating this form of transaction careful consideration should be given to the attributes of the company. Private equity investors are attracted to companies as target platform acquisitions that have the sufficient size, management talent, and infrastructure to support the critical mass necessary to achieve arbitrage available through increased scale.