Deal Snapshot
ON ASSIGNMENT TO ACQUIRE ECS FEDERAL FOR USD 775M
Friday 02 February 2018

California, US-based IT and professional services company On Assignment, Inc. (NYSE: ASGN) has agreed to acquire Virginia, US-based government services contractor ECS Federal, LLC from Roy Kapani, the company's majority owner and founder, and private investment firm Lindsay Goldberg, the company said.
Under terms of the definitive purchase agreement, On Assignment will acquire all of ECS' equity for USD 775m to be paid at closing. In connection with the transaction, On Assignment has obtained a USD 1.6bn financing commitment from Wells Fargo. The committed financing consists of a USD 200m revolving credit facility and a USD 1.4bn term B loan.


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Details
Date Published: 02/02/2018
Target: ECS Federal
Country: USA
Deal Size: 775m (USD)
Sector: Business and Consumer Services
Type: LBO
Financing: Cash
Status: Agreed
Vendor: Roy Kapani, Lindsay Goldberg
Buyer: On Assignment
Buyer Advisor: Sullivan and Cromwell , Latham and Watkins , Wells Fargo Securities , American Discovery Capital , Wolf Den Associates , Perkins Coie
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