Government contractor SRA Companies files for an IPO that could raise $300 million

SRA Companies, an IT services contractor for the US government's health, civil and national security agencies, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise $300 million.

SRA Companies announced in April 2011 that it would be bought by Providence Equity Partners for $1.9 billion.

Another LBO'd government contractor, Alion Science and Technology (ALIO.RC), has been on file for a $100 million IPO since April, and last updated its filing in early July.

The Fairfax, VA-based company, which was founded in 1978, booked $1.4 billion in sales for the 12 months ended March 31, 2015. It has not selected a ticker or an exchange. BofA Merrill Lynch and Citi are the joint bookrunners on the deal. No pricing terms were disclosed.

The article Government contractor SRA Companies files for an IPO that could raise $300 million originally appeared on IPO investment manager Renaissance Capital's web site renaissancecapital.com.

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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.