Holland & Knight Advises Chesapeake Technology International in Sale to Parsons Corporation
TYSONS, Va. (July 8, 2025) – Holland & Knight advised Chesapeake Technology International Corp. (CTI), a portfolio company of Bluestone Investment Partners, in its sale valued at $89 million to Parsons Corporation (NYSE: PSN), a leading disruptive technology provider in the national security and global infrastructure markets. The transaction was announced on July 1.
CTI strengthens Parsons' defense customer posture with the Special Operations forces and enhances Parsons' position in the Indo-Pacific Command (INDOPACOM) area of operations. The transaction is consistent with Parsons' strategy of completing accretive acquisitions of companies with revenue growth and adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) margins of at least 10 percent. CTI is expected to generate approximately $89 million in revenue for 2026 and should be accretive to Parsons' fiscal year revenue growth rate, adjusted EBITDA margin and earnings per share.
Headquartered in Prince Frederick, Maryland, CTI focuses on developing advanced, warfighter-focused solutions for military and security applications. Holland & Knight previously advised Bluestone Investment Partners in its acquisition of CTI in 2021.
Holland & Knight's representation of CTI was led by Partners Adam August and Lauren Benny and Associates Fernando Butler and Taylor Oglesby (M&A), with assistance from Partner Tim Kobes (Government Contracts). The team was supported by Partner Gary Schoenbrun (Tax); Partner Eric Rubin and Associate Patrick Burri (Executive Compensation & Benefits); and Partner Robert Hill and Senior Counsel Albert Sueiras (Intellectual Property).
More information on the transaction can be found here.
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