Houlihan Lokey Advises Dovel Technologies

Houlihan Lokey is pleased to announce that Dovel Technologies, Inc. (Dovel), a portfolio company of Macquarie Capital, has been acquired by Guidehouse, a portfolio company of Veritas Capital. The transaction was announced on September 8, 2021 and closed on October 15, 2021. The transaction details were not disclosed.

Headquartered in McLean, Virginia, Dovel is a premier provider of complex technology solutions to the health, human services, and public safety markets. Dovel’s mission of improving, protecting, and saving lives is achieved through a culture of innovation and a highly robust delivery model that melds deep domain expertise with advanced solutions and technologies. With over 1,800 employees and a 30+ year track record of support, Dovel has established a franchise position within NIH and is a nationally recognized and sought-after partner within the health and life sciences community. To further enhance its delivery of outcome-based solutions, the company leverages its development engine, the Innovation Technology Group (ITG), to harness the power of emerging technologies that enable rapid decision-making in data-rich environments. The company’s significant investment in advanced technologies through its ITG has established Dovel as a leading provider of advanced data analytics and AI, enterprise digital modernization, cloud adoption, and low-code, no-code solutions.

With 8,000 professionals in over 50 locations, Guidehouse is a leading provider of strategic advisory services to customers such as the Department of Defense, Homeland Security, Veterans Affairs, Health and Human Services, and the Department of State as well as numerous state and local governments and multilateral agencies. Guidehouse is led by professionals with deep commercial and public sector expertise and helps clients solve their toughest challenges.

Veritas is a long-standing 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 and 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.

Houlihan Lokey served as financial advisor and marketed, structured, and negotiated the transaction on behalf of Dovel. In addition to its ownership interest, Macquarie Capital also acted as co-advisor.

Houlihan Lokey’s Aerospace, Defense & Government (ADG) practice within the global Industrials Group is a leading M&A advisor to aerospace, defense, and government services companies. The Dovel transaction announcement marks the 10th government services deal that Houlihan Lokey’s practice has closed since the beginning of 2021 and the 22nd ADG deal so far this year. With a staff of approximately 30 investment bankers in Washington, D.C., London, and Los Angeles, Houlihan Lokey’s ADG practice is among the largest dedicated industry banking groups worldwide. In 2020, the Industrials Group was once again ranked as the No. 1 M&A advisor for all U.S. industrial transactions, according to Refinitiv.