US-based government services provider PAE has completed its previously disclosed move to become a publicly traded company, according to a 10 February announcement.
PAE is now listed on the Nasdaq stock market. Platinum Equity, the Los Angeles-based investment firm that had owned PAE since 2016, is keeping a 23% stake in the company.
Going public will make it easier for PAE to raise money to fuel its growth. The company has already developed a pipeline of firms it might acquire to broaden and strengthen its capabilities and open doors to new customers.
PAE is now well-positioned “to participate in the consolidation under way in the government services sector”, said Louis Samson, a Platinum Equity partner and a PAE board member.
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