Government contractor SRA Companies files for an IPO that could raise $300 million

SRA Companies, an IT services contractor for the US government's health, civil and national security agencies, filed on Wednesday with the SEC to raise up to $100 million in an initial public offering. However, the deal size is likely a placeholder for an IPO that we estimate could raise $300 million.

SRA Companies announced in April 2011 that it would be bought by Providence Equity Partners for $1.9 billion.

Another LBO'd government contractor, Alion Science and Technology (ALIO.RC), has been on file for a $100 million IPO since April, and last updated its filing in early July.

The Fairfax, VA-based company, which was founded in 1978, booked $1.4 billion in sales for the 12 months ended March 31, 2015. It has not selected a ticker or an exchange. BofA Merrill Lynch and Citi are the joint bookrunners on the deal. No pricing terms were disclosed.