The Carlyle Group
In late 2002, the Carlyle Group, an American private equity firm, publicly declared its intention to purchase a large stake in Qinetiq. In February 2003, the Carlyle Group completed the acquisition of a 33.8% share for £42 million. Prior to Qinetiq's flotation years later, ownership of the firm was divided between the MoD (56%), Carlyle Group (31%) and staff (13%). The Carlyle Group was expected to remain invested in Qinetiq for between three and five years, after which a stock exchange float would take place.