Caliburn International Corporation Files for Public Offering

Caliburn International (CLBR) intends to raise $100 million from a U.S. IPO, according to an S-1 registration statement.

Reston, Virginia-based Caliburn International was founded by DC Capital Partners to provide consulting, engineering, medical, and environmental services as well as large-scale program management in support of national defense, international diplomacy, and homeland security client readiness markets.

“Our business was formed from the combination in August 2018 of four companies under the control of DC Capital:

Sallyport, which was a subsidiary of Michael Baker, a DC Capital portfolio company that acquired Sallyport in 2011;

Janus, which DC Capital acquired in December 2017;

CHS (Comprehensive Health Services), which DC Capital acquired in March 2018; and

PT&C, which DC Capital acquired in March 2018. “

In their registration, there are some details about existing contracts, but this caught my eye:

“In addition to the new contract awards, we are currently preparing proposal documentation for a two-year sole-source contract that would replace our existing Balad Base Support Contract. The new contract would initially run for one year through January 2020, with two six-month options extending performance through January 2021, and have an estimated contract value of $800 million over two years. This estimate is based on discussions with the client, the increase in F-16 planes on the Balad Air Base from 21 in 2018 to the planned 34 in 2019 and the annual contract value of our current Balad Base Support Contract.”