Publication

Recent GovCon Transactions Kick Off Record Year of Dealmaking for Offit Kurman’s M&A Practice Group

For Immediate Release

July 18, 2018 | Tysons Corner, VA  The attorneys of Offit Kurman’s Mergers and Acquisitions (M&A) Practice Group, led by corporate attorney Michael N. Mercurio, sum up their approach in four simple words: We make deals happen®. And as the group handles a record-shattering year of M&A activity, with several transactions already completed and many more underway, that slogan is proving truer than ever before.

 

Offit Kurman’s attorneys, as well as independent business analysts and valuations specialists, agree that the spike in M&A activity is due to rare economic conditions impacting today’s market. Their advice to business owners: sell now if you can, or else be prepared to wait through the downturn and for the market to rebound again in about five years.

 

Recently, Mr. Mercurio and Brent Salmons helped United Support Services (USS), LLC divest a joint venture. The deal closed on June 8th.

 

Virginia-based USS, LLC is a turn-key integrated product support and logistics provider that has successfully fielded and sustained more than $1 billion in technologies and technical services for original equipment manufacturers and other defense technology customers. Ninety-eight percent of USS employees are U.S. Veterans. Offit Kurman’s attorneys worked alongside sellers CSMI, LLC and VRC Corporation to transfer ownership of USS to CACI, Inc. through an equity purchase agreement.

 

The USS transaction follows two other deals Offit Kurman’s M&A attorneys managed in the last few months: VetsAmerica’s sale to Veteran Enterprise Solutions, Inc., and Active Physical Therapy Services’ acquisition of Rehabilitation Services of Greater Washington. These deals exemplify the firm’s unique experience in government contracting and health care M&A. In recent years, Offit Kurman has represented a diverse collection of government contractors in mid-market M&A transactions, and has represented a number of hospitals, managed care organizations, pharmacies, health care staffing agencies, physician groups, vendors, device manufacturers, and other members of the health care industry seeking to grow through strategic business transactions.

 

Members of the government contracting and health care industries are not alone in witnessing an extraordinary rise in dealmaking. A rapidly growing number of owners throughout the Mid-Atlantic region—and across the U.S.—are choosing to sell their businesses in 2018. According to Offit Kurman M&A attorney Michael N. Mercurio, this strong M&A market is the result of several factors, including seller-friendly macroeconomic conditions and an aging population of baby boomer owners facing financial uncertainty and looking to retire.

 

“Right now, company valuations are high, and they won’t stay high for long,” he said. “Business owners have a small window to take advantage of the higher valuations before we see a downturn in the M&A market. If you are a business owner thinking of selling, now is an ideal time to get your organization prepared for sale.”

Over the coming weeks and months, Offit Kurman’s M&A Practice Group will launch a series of articles, resources, webinars, and speaking events focused on how business owners on both the sell-side and the buy-side can take advantage of the current M&A market. To learn more, and to get in touch with an Offit Kurman's M&A attorney, click here.

 

ABOUT MIKE MERCURIO

Mike Mercurio | mmercurio@offitkurman.com | 301-575-0332

Mr. Mercurio serves as outside general counsel to clients on matters related to corporate and business law, commercial transactions, government contracting, health care, construction services, and real estate. As a strategic partner to firm clients, Mr. Mercurio regularly counsels entrepreneurial individuals and assorted entities on all aspects of business and commerce including formation and structure; ownership, management and control; financing and capital; expansion and acquisition; sale and transfer; and contraction and dissolution.

 

 

 

 

 

 

ABOUT OFFIT KURMAN

Offit Kurman is one of the fastest-growing, full-service law firms in the Mid-Atlantic region. With over 170 attorneys offering a comprehensive range of services in virtually every legal category, the firm is well positioned to meet the needs of dynamic businesses and the people who own and operate them. Our eleven offices serve individual and corporate clients in the Virginia, Washington, DC, Maryland, Delaware, Pennsylvania, New Jersey, and New York City regions. At Offit Kurman, we are our clients’ most trusted legal advisors, professionals who help maximize and protect business value and personal wealth. In every interaction, we consistently maintain our clients’ confidence by remaining focused on furthering their objectives and achieving their goals in an efficient manner. Trust, knowledge, confidence—in a partner, that’s perfect.

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