Ramzi Musallam, Veritas Capital CEO & Managing Partner, Selected to 2020 Wash100 for Buyout Fund and GovCon M&A Leadership
Executive Mosaic is honored to introduce Ramzi Musallam, CEO and managing partner of Veritas Capital, as an inductee into the 2020 edition of the Wash100 for leading the New York City based investment firm to exceed its fundraising targets and further invest in technology-focused businesses.
This marks his fifth consecutive award. Musallam received his fourth award for leading the company’s mergers and acquisition activity and helping Veritas grow organically. He has continued to lead Veritas Capital throughout the year, growing the company’s revenue.
Most notably, Veritas Capital agreed to buy DXC Technology’s U.S. state and local health and human services business for $5 billion in cash in March 2020. DXC’s state health business provides mission-critical, technology-enabled platforms supporting the operations and administration of U.S. health programs and other public sector clients.
Musallam said Veritas looks forward to welcoming DXC’s state health business and its workforce into its portfolio as the private investment firm works to build on the business’ commitment to delivering mission-critical health technology and quality health care to U.S. citizens.
Veritas Capital’s current portfolio of companies in the GovCon space includes Alion Science and Technology, Guidehouse and Peraton. Guidehouse, the former PwC U.S. public sector arm that Veritas Capital acquired two years ago, closed the acquisition of Chicago-based Navigant Consulting in Oct. 2019.
Scott McIntyre, CEO of Guidehouse and fellow 2020 Wash100 awardee, said that the combined entity aims to drive "cross-market advancements" and help clients address challenges. The company first announced the deal in Aug. 2019 and noted the transaction received approval from Navigant's shareholders.
In addition to Musallam’s hand in the Guidehouse purchase, he also helped close Peraton’s acquisition of Solers in July 2019. Established in 1998, Solers provides systems integration and engineering support, space protection and resiliency, cloud, satellite ground platforms, data and cyber engineering services for intelligence, defense and other federal agencies and commercial clients.
The acquisition, for an undisclosed sum, will further build up its capability to deliver space protection and resiliency platforms in support of national security programs. Musallam said at the time the latter deal would accelerate Peraton’s space and communications market presence.
Musallam’s leadership through many acquisitions within the year to grow the company’s portfolio and revenue. Musallam led Veritas Capital portfolio, expanding the company’s assets. In Oct. 2019, the company raised $6.5 billion for its seventh fund, beating the $5 billion initial target and the $3.55 billion it collected three years ago for its sixth fund.
"I believe the strength of our latest fundraise is a testament to our diverse team of investment professionals and associated intellectual property that enable us to identify attractive investment opportunities and drive unmatched growth," Musallam said.
While the Wash100 Award is the most coveted and prestigious award that the GovCon industry has to offer, Musallam’s achievements have led Veritas Capital to receive other awards throughout the year.
In Aug. 2019, Equity market research company Preqin recognized Veritas Capital as the “most consistently high-performing buyout fund manager” based on quartile returns. The alternatives data firm said the private equity firm has had the most reliably successful buyout funds.
While Musallam remains a pivotal leader of Veritas Capital, he has additionally served in leadership roles to grow a variety of companies. Between 2012 and 2018, Musallam served as board chairman of Vencore, which merged with KeyPoint Government Solutions and the spinout of DXC Technology’s U.S. public sector business almost two years ago to form Perspecta.
He is also a board member at the Chantilly, Va.-based government technology contractor in which Veritas Capital holds a partial stake.
Executive Mosaic congratulates Musallam and the Veritas Capital team for their selection to receive the 2020 Wash100 Award. His commitment to identifying technology investment opportunities will be influential to the GovCon sector.
The Wash100 award, now in its seventh year, recognizes the most influential executives in the GovCon industry as selected by the Executive Mosaic team in tandem with online nominations from the GovCon community. Representing the best of the private and public sector, the winners demonstrate superior leadership, innovation, reliability, achievement and vision.
Visit the Wash100 site to learn about the other 99 winners of the 2020 Wash100 Award. On the site, you can submit your 10 votes for the GovCon executives of consequence that you believe will have the most significant impact in 2020.