Parsons Acquires Chesapeake Technologies
Deal News | Jul 01, 2025 | Globenewswire
Parsons Corporation, a leading technology provider in national security and infrastructure markets, has acquired Chesapeake Technologies International (CTI), a portfolio company of Bluestone Investment Partners, for $89 million. The acquisition aligns with Parsons' strategic focus on expanding its defense capabilities, particularly in response to evolving global threats. CTI, known for its advanced warfighter-focused solutions, enhances Parsons' position in the Special Operations forces and the Indo-Pacific Command area of operations. The acquisition is expected to be accretive to Parsons’ revenue growth and adjusted EBITDA margins. With the majority of CTI's 225 employees holding security clearances, they will integrate into Parsons' Defense & Intelligence unit. This deal underscores Parsons' commitment to providing cutting-edge technology solutions to meet defense needs, as emphasized by Parsons CEO Carey Smith. The transaction reflects an anticipated growth trajectory in the defense market, driven by increased government funding and priorities.
Sectors
- Defense and Aerospace
- Technology and Innovation
Geography
- United States – Both Parsons and Chesapeake Technologies International are based in the U.S., with operations influencing national defense and security sectors.
Industry
- Defense and Aerospace – The acquisition involves companies operating in defense technology solutions and military applications, emphasizing Parsons' focus on enhancing its defense posture.
- Technology and Innovation – Chesapeake Technologies International provides advanced technology solutions that empower military operations, aligning with Parsons’ innovation strategy.
Financials
- $89 million – The value of the acquisition transaction between Parsons Corporation and Chesapeake Technologies International.
- 10x – The multiple of CTI's estimated 2026 adjusted EBITDA used for the transaction valuation.
- $89 million – CTI's expected revenue for the year 2026.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Parsons Corporation | Acquirer | Company | A disruptive technology provider in national security and infrastructure markets, acquiring CTI to enhance its defense capabilities. |
| Chesapeake Technologies International | Target | Company | A Maryland-based technology provider specializing in solutions for military and security applications, known for its pioneering domain expertise. |
| Bluestone Investment Partners | Vendor | Company | The investment firm that held Chesapeake Technologies International as a portfolio company. |
| Raymond James | Financial Advisor | Company | Served as the advisor to Parsons in the transaction. |
| Carey Smith | CEO of Parsons | Person | Chair, president, and CEO of Parsons, who led the acquisition strategy. |
| Dustan Hellwig | CSO of CTI | Person | Co-founder and chief strategy officer of CTI, highlighting the strategic alignment with Parsons. |