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.
More information about the transaction can be found here.