Macquarie Capital announced that it has reached a definitive agreement to sell Dovel Technologies to Guidehouse, a portfolio company of Veritas Capital. Dovel combines deep domain expertise and advanced technologies in the health IT, life sciences, public safety, and grants management markets.
Acquired by Macquarie in 2019
Macquarie acquired a majority stake in Dovel in 2019. Under its ownership, the company continues its organic growth and acquired Ace Info Solutions to enhance its executive management team and workforce. The transaction is subject to regulatory approvals and customary closing conditions and is expected to occur in the fourth quarter of 2021.
Dovel will add deep subject matter expertise in advanced data analytics, artificial intelligence and machine learning, digital modernization, and technology infrastructure optimization to Guidehouse’s complimentary service offerings. Larry Handen, Senior Managing Director of Principal Finance said,
“Dovel is an established leader in its core focus areas of health IT, life sciences, public safety and grants management and we are pleased to have found an outstanding partner in Guidehouse that is a strategic fit and shares our commitment to Dovel’s mission. We’re thrilled that Dovel extended its tremendous growth trajectory while working with Macquarie Capital and that it is well positioned for continued success.”