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.: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.
- 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."
