Citizens serves as joint adviser on $590M defense company acquisition

PROVIDENCE – Citizens M&A Advisory served as the joint adviser on a $590 million defense consulting company acquisition, according to a news release.

Under the deal, international defense company QinetiQ Group PLC bought Virginia-based information technology company Avantus Federal. The transaction included $70 million in tax benefits to QinetiQ and is part of the company’s long-term expansion plans in the U.S.

Citizens M&A Advisory is part of Citizens Capital Markets Inc., a subsidiary of Citizens Financial Group Inc.

Nancy Lavin is a PBN staff writer. You may reach her at Lavin@PBN.com.