Reuters is reporting that Constellis Holdings LLC, the owner of the former Blackwater and Triple Canopy military security businesses is up for sale. Constellis' owners, Forte Capital Advisors LLC and Manhattan Strategic Ventures LLC, have hired BD&T to run an auction for the business and are hoping to get as much as a billion dollars for the business which is reported to have 12-month EBITDA of $170 million.
Based in Reston, Virginia, Constellis' 8,000 employees, most of whom are former military or law enforcement personnel, provides training and security services to customers worldwide. The business was originally founded as Blackwater, then changed its name to Xe Services after the fatal shooting of 14 civilians in Iraq 2007. In 2010, the company was sold to its current private equity owners and was rebadged ACADEMI. In 2014 the company was merged with Triple Canopy to form Constellis Holdings.
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