Becker & Poliakoff recently advised the DLH Holdings Corporation (DLH), a leading provider of innovative healthcare research, services and solutions to the federal government, in its acquisition of privately-held Irving Burton Associates, LLC (IBA).
Atlanta-based DLH has approximately 2000 employees serving numerous federal government clients throughout the United States and abroad. Virginia-based IBA employs approximately 115 employees and provides research, systems development and other technology-enabled solutions to the Defense Health Agency, Telemedicine & Advanced Technology Research Center of the U.S. Army’s Medical Research and Development Command, and other agencies within the U.S. Department of Defense. IBA maintains a top-secret facility clearance, and its defense contracts provide for a range of health IT services including digital transformation, data analytics, cybersecurity, and artificial intelligence.
Financing for the acquisition was provided by a credit facility comprised of a syndicated term loan of $70 million and revolving credit facility of $25 million. First National Bank of Pennsylvania acted as agent, and F.N.B. Capital Markets and M&T Bank acted as joint lead arrangers.
Becker corporate attorneys Michael Goldstein, Victor DiGioia, Paul Shur, and Sami Lesser provided legal counsel and support to DLH regarding the financing of this transaction.
More information about the transaction can be found here.