Looking for experienced govcon operators/IT folks for some advice

Have been cultivating a great relationship with a govcon company that provides IT services, primarily to a federal civilian agency. They just won an IT Staffing contract for a large state that's more like an IDIQ. ~$4M EBITDA, extremely hands-off owner, bulk of value renews every 5 years with recompete coming up. Certain aspects of the deal make it seem like it would be truly difficult for them to lose. Need a pessimistic view on the company so I can balance out my natural optimism. Hoping someone can help offer that and throw some cold water on what I think could be a great deal.