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Caliburn Prepares IPO, Pursues IT Services Provider Acquisitions

Government contractor Caliburn International is preparing for a potential $100 million IPO (initial public offering), and plans to acquire IT service providers in a bid to diversify its revenue stream, according to an SEC filing.

Caliburn provides consulting, engineering, medical, and environmental services to various federal agencies. The Reston, Virginia-based company has roughly 6,800 employees.

DC Capital Partners, a private equity firm, formed Caliburn through the combination of four businesses.:

  • Sallyport, which was a subsidiary of Michael Baker, a DC Capital portfolio company that acquired Sallyport in 2011;
  • Janus, which DC Capital acquired in December 2017;
  • CHS, which DC Capital acquired in March 2018; and
  • PT&C, which DC Capital acquired in March 2018.

Caliburn Revenues, Market Focus

Roll those businesses together, and Caliburn’s overall revenues were $784,750 million for 2017. The business also appears to be growing — reaching $631.2 million for the first nine months of 2018 compared to $586.1 million for the first six months of 2017, the SEC filing indicates. The company had a $14.8 million net loss for 2017, but net income improved to a positive $17.3 million figure for the first nine months of this year, the filing says.

Caliburn’s current focus areas include:

  • Engineering, Environmental & Technical Solutions
  • Medical & Humanitarian Services
  • Logistics & Support Services
  • Risk Management Solutions

Caliburn Pursues Potential IT Services Acquisitions

It looks like Caliburn is poised to push deeper into the technology, including a potential move into the healthcare IT services sector.

According to the SEC filing, Caliburn is:

“targeting acquisitions in areas such as information technology, the U.S. intelligence community, and healthcare IT services to augment our core, high-margin consulting, engineering, medical, environmental and program management services.”

Parent DC Capital, meanwhile, typically pursues acquisitions in such sectors as Intelligence, Information Technology, Security, Operations and Maintenance, and Engineering and Construction, that company says.

Caliburn Intellectual Property: Cloud Services

Caliburn also has developed a  proprietary cloud-based software platform that all major Department of Defense agencies leverage, the company says.. The software, Tri-Service Automated Cost Engineering System (TRACES), enables efficient asset utilization, cross product communication and best-in-class cost estimating through proprietary cloud-based program management, the company says.

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