Sale to Madison Dearborn Partners and CoVant Management

Technology & Services
Sale to Madison Dearborn Partners and CoVant Management


Baird served as co-advisor to LinQuest Corporation on this transaction


LinQuest Corporation (“LinQuest” or the “Company”), has been acquired by Madison Dearborn Partners (“MDP”) and CoVant Management (“CoVant”). Terms of the transaction were not disclosed.

LinQuest designs, develops and delivers state-of-the-art engineering and advanced technology solutions to Command, Control, Communications, Computer, Intelligence, Surveillance, and Reconnaissance (C4ISR) programs of national importance. LinQuest’s core competencies are in military satellite communications engineering, development, integration, testing, and operations; space flight and ground software, tactical communications networks, cyber operations, space superiority; battlespace awareness; and position, navigation, and timing (“PNT”), placing it in some of the highest priority defense and intelligence growth markets. LinQuest is headquartered in Los Angeles, California.

The acquisition of LinQuest is illustrative of key themes in the government services M&A market today, including (1) buyer interest in key growth areas like C4ISR and space; (2) strategic focus on companies with highly differentiated capabilities and a distinguished brand; (3) strong private equity activity in building premier government services assets.

MDP is a leading private equity investment firm in the United States. Since MDP’s formation in 1992, MDP has raised seven funds with aggregate capital of approximately $23 billion and has completed approximately 130 investments. MDP is currently investing out of its most recent fund, $4.4 billion MDCP Fund VII, in businesses across a broad spectrum of industries, including business and government software and services; basic industries; financial and transaction services; health care; and telecom, media and technology (TMT) services. MDP is headquartered in Chicago, Illinois.

Founded by former executives of Anteon International, CoVant partners with and provides strategic, financial and operational resources to companies specializing in technology and related solutions that serve the needs of government customers. With an experienced team of business executives and a respected board of former government and military leaders, CoVant Management delivers a unique and highly strategic approach to maximizing company growth and value. CoVant is headquartered in McLean, Virginia.
Technology & Services
Sale to Madison Dearborn Partners and CoVant Management
May 2018
LinQuest Corporation
Technology & Services
Target Location
North America
Acquiror Location
North America