Macquarie Capital, the advisory, capital markets and principal
investment arm of Macquarie Group, today announced that it has
reached a definitive agreement to sell Dovel Technologies (“Dovel”)
to Guidehouse, a portfolio company of Veritas Capital. Dovel is a
leading expert to federal agencies that blends deep domain
expertise and advanced technologies in the health IT, life
sciences, public safety and grants management markets.
Macquarie acquired a majority stake in Dovel in 2019 and
established a plan to further grow and scale the company. Under
Macquarie Capital’s ownership, Dovel continued its rapid organic
growth, acquired Ace Info Solutions, broadened its executive
management team and workforce and has been cited as a top growth
company in numerous rankings as well as a top workplace. The
transaction is subject to regulatory approvals and customary
closing conditions and is expected to occur in the fourth quarter
of 2021.
“Dovel is an established leader in its core focus areas of
health IT, life sciences, public safety and grants management and
we are pleased to have found an outstanding partner in Guidehouse
that is a strategic fit and shares our commitment to Dovel’s
mission,” said Larry Handen, Senior Managing Director in Principal
Finance, the principal investing arm of Macquarie Capital’s
Advisory and Capital Solutions division. “We’re thrilled that Dovel
extended its tremendous growth trajectory while working with
Macquarie Capital and that it is well positioned for continued
success,” added Jared Doskow, Managing Director at Principal
Finance.
Dovel will add deep subject matter expertise in advanced data
analytics, artificial intelligence and machine learning, digital
modernization and technology infrastructure optimization to
Guidehouse’s complementary service offerings, particularly in the
Health, National Security and Energy and Sustainability &
Infrastructure sectors.
“The acquisition of Dovel is the next strategic step in our
journey to create the next generation global consultancy,” said
Scott McIntyre, Chief Executive Officer of Guidehouse. “Dovel is an
exceptionally strong solutions provider with significant expertise
in technology and advanced analytics, addressing some of the most
complex challenges their clients face in the health, human services
and public safety markets.”
Damon Griggs, Chief Executive Officer of Dovel, said, “We are
excited by the opportunity to join the Guidehouse platform given
our complementary capabilities and strategically correlated
missions to improve, protect, and save lives. Together, Dovel and
Guidehouse will create a powerful, technology-driven organization,
characterized by deep industry expertise and leading technical
know-how. Our companies are aligned with similar cultures and
strong core values.”
In addition to its ownership interest, Macquarie Capital acted
as financial advisor to Dovel. Houlihan Lokey also acted as
financial advisor.
About Macquarie Capital
Macquarie Capital is the advisory, capital markets and principal
investment arm of Macquarie Group. Our capabilities encompass
corporate advisory and a full spectrum of capital solutions,
including capital raising services from equity, debt and private
capital markets and principal investments from Macquarie’s own
balance sheet. These offerings are reinforced through our deep
sector expertise in: aerospace, defense and government services,
consumer, gaming and leisure, financial institutions, healthcare,
industrials, infrastructure and energy, real estate, resources,
services, technology and telecommunications and media sectors.
Macquarie Capital Principal Finance, the principal investing arm of
Macquarie Capital Advisory and Capital Solutions, provides flexible
primary financing and secondary market investing solutions for
corporate and commercial real estate clients across North America,
Europe and Australasia. For further information visit
macquarie.com/au/en/about/company/macquarie-capital/advisory-and-capital-solutions.html.
About Dovel Technologies
Dovel Technologies (“Dovel”) is a trusted government partner
that blends deep domain expertise with advanced technologies to
help our customers solve complex problems that improve, protect,
and save lives. As a rapidly growing company, the company combines
entrepreneurial spirit, customer focus, and an outcomes-based
approach to support agency missions in health IT, life sciences,
public safety, and grants management. To learn more, visit
www.doveltech.com.
About Guidehouse
Guidehouse is a leading global provider of consulting services
to the public sector and commercial markets, with broad
capabilities in management, technology, and risk consulting. The
company helps clients address their complex challenges and navigate
significant regulatory pressures focusing on transformational
change, business resiliency, and technology-driven innovation.
Across a range of advisory, consulting, outsourcing, and digital
services, Guidehouse creates scalable, innovative solutions that
prepare our clients for future growth and success. The company has
more than 10,000 professionals in over 50 locations globally.
Guidehouse is a Veritas Capital portfolio company, led by seasoned
professionals with proven and diverse expertise in traditional and
emerging technologies, markets, and agenda-setting issues driving
national and global economies. For more information, please visit
www.guidehouse.com.
About Veritas Capital
Veritas is a longstanding technology investor with a focus on
companies operating at the intersection of technology and
government. The firm invests in companies that provide critical
products and services, primarily technology and technology-enabled
solutions, to government and commercial customers worldwide,
including those operating in the healthcare, national security,
software, education, aerospace & defense, government services,
communications, and energy industries. Veritas seeks to create
value by strategically transforming the companies in which it
invests through organic and inorganic means.
Leveraging technology to make a positive impact across vitally
important areas, such as healthcare, education, and national
security, is core to Veritas. We are proud stewards of national
assets, helping to improve the quality of healthcare while reducing
cost, advance our educational system, and protect our nation and
allies. For more information, visit www.veritascapital.com.
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