Press Release October 26, 2021

PAE to be Acquired by Amentum for $1.9 Billion

The Capital Markets and Public Company Advisory teams advised PAE Incorporated (NASDAQ: PAE, PAEWW; “PAE”) on its definitive agreement under which an affiliate of Amentum Holdings LLC will acquire PAE. The all-cash transaction for all outstanding shares of common stock of PAE is valued at approximately $1.9 billion, including the assumption of debt and certain fees. The transaction, which is expected to close by the end of the first quarter 2022, was approved by PAE’s board of directors and is subject to PAE shareholder approval and other customary closing conditions, including regulatory approvals.

The acquisition, once finalized, will create one of the largest providers of critical services to U.S. federal and allied governments, with more than $9 billion of combined revenue over the last 12 months and capabilities spanning synthetic training, sensor-based technologies, intelligence, cyber and IT, spectrum and electronic warfare, space operations, environmental solutions, asset management, and mission support.

For more than 66 years, PAE has tackled the world’s toughest challenges to deliver agile and steadfast solutions to the U.S. government and its allies. With a global workforce of approximately 20,000 on all seven continents and in approximately 60 countries, PAE delivers a broad range of operational support services to meet the critical needs of its clients.

The Goodwin team was led by Sean Donahue, Jeffrey LetalienFolake Ayoola, Lauren Visek, and Ali Morris.

For additional details on the acquisition, please read the press release.