Contracting Company Mergers & Acquisitions 2018 – 2021

There have been significant changes in the contracting industry recently, and these are just from the past three years:

October 26, 2021 – Amentum to Acquire PAE: Amentum Holdings LLC (“Amentum”) and PAE Incorporated (NASDAQ: PAE, PAEWW; “PAE”) announced on October 25, 2021, a definitive agreement under which an affiliate of Amentum will acquire PAE.

The acquisition, once finalized, will create one of the largest providers of critical services to U.S. federal and allied governments, with more than $9 billion of combined revenue over the last 12 months and capabilities spanning synthetic training, sensor-based technologies, intelligence, cyber and IT, spectrum and electronic warfare, space operations, environmental solutions, asset management, and mission support.

October 15, 2021 – Caliburn International Rebrands as Acuity International: Caliburn International announced that it has formally rebranded as Acuity International to reflect an evolution and focus on technology-based critical services to global governments and commercial enterprises.

The new entity is comprised of three business practices to support its customers: Advanced Technology Solutions, Advanced Medical Solutions, and Global Mission Solutions.

Caliburn was established in 2018 with the consolidation of five legacy companies:

  1. Sallyport Global Holdings
  2. Comprehensive Health Services
  3. Janus Global Operations
  4. Project Time & Cost
  5. Michael Baker Global Services

July 22, 2021 – Huntington Ingalls Industries To Acquire Alion Science and Technology: Huntington Ingalls Industries announced that it had entered into a definitive agreement to acquire Alion Science and Technology for $1.65 billion in cash from Veritas Capital.

Alion provides advanced engineering and R&D services in the areas of ISR, military training and simulation, cyber, data analytics and other next-generation technology based solutions to the DOD and intelligence community customers, with the U.S. Navy representing about one third of current annual revenues. Alion has more than 3,200 employees with over 80% of employees maintaining security clearances.

July 22, 2021: CAE Completes Acquisition of L3Harris Technologies’ Military Training Business: CAE announced that it has received all the required regulatory approvals for the previously announced acquisition of L3Harris Technologies’ Military Training business for US$1.05 billion and completed closing on July 2, 2021.

May 1, 2021 – Serco Completes Acquisition of WBB: Serco Inc., a provider of professional, technology, and management services, announced that it has closed the acquisition of Whitney, Bradley & Brown, Inc. (WBB). The final purchase amount was $295 million. The acquisition would substantially strengthen Serco’s position providing acquisition and program management services to the Department of Defense, which has been a critical growth area for the company in recent years. WBB has around 1,000 employees, including more than 200 subject matter experts (SMEs) with experience in their respective technical disciplines.

January 3, 2021: Vectrus to Acquire Zenetex Expanding Intelligence and Foreign Military Clients: Vectrus, Inc. announced that it has signed a definitive agreement to acquire Zenetex, a leading provider of technical and strategic solutions focused on enabling mission readiness, performance, and enhanced protection for defense and national security clients globally.

November 24, 2020 – Amentum Completes Acquisition of DynCorp International: Amentum announced that it had closed the acquisition of DynCorp International, a provider of sophisticated aviation, logistics, training, intelligence and operational solutions in over 30 countries worldwide.

The combination has created one of the largest providers of mission critical support services to government customers, with 34,000 team members in 105 countries around the world. The acquisition adds critical new capabilities which will accelerate Vectrus’ converged infrastructure strategy and expands the company’s client base with new DoD, intelligence and foreign military clients.

November 24, 2020 – PAE To Acquire Metis Solutions: PAE announced that its subsidiary has entered into a definitive agreement to acquire Metis Solutions Corporation, a leading provider of intelligence analysis, operational and tactical training and program management, for approximately $92 million in cash.

August 25, 2020 – MAG Aerospace (MAG) acquired Remotely Piloted Solutions (RPS): This acquisition adds over 300 C5ISR (Command, Control, Computers, Communications, Cyber, Intelligence, Surveillance and Reconnaissance) professionals to MAG’s existing team of experts.

August 27, 2019 – AE Industrial Partners Completes Its Acquisition of Columbia Helicopters: AE Industrial Partners, LP, a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets, completed its acquisition of Columbia Helicopters, a global leader in heavy-lift helicopter operations and trusted expert in maintenance, repair, and overhaul services.

July 11, 2019 – Vectrus, Inc. Acquires Advantor Systems Corporation: Vectrus, Inc. has acquired Advantor Systems Corporation, a leading provider of integrated electronic security systems to the federal government. Deployed at over 2,000 client sites worldwide, Advantor’s security solutions protect tens of thousands of facilities and assets.

June 24, 2019 – Raytheon Company and United Technologies Corp. Combine into Raytheon Technologies Corporation: Raytheon Company and United Technologies Corp. entered into an agreement to combine in an all-stock merger of equals.

The merger of Raytheon, a leading defense company, and United Technologies, a leading aerospace company, comprised of Collins Aerospace and Pratt & Whitney, will offer a complementary portfolio of platform-agnostic aerospace and defense technologies.

The combined company, which will be named Raytheon Technologies Corporation, will offer expanded technology and R&D capabilities to deliver innovative and cost-effective solutions aligned with customer priorities and the national defense strategies of the U.S. and its allies and friends.

November 26, 2018 – UTC Completes Acquisition of Rockwell Collins; Separating into 3 Companies:  United Technologies Corp. announced on Monday the completion of its acquisition of Rockwell Collins and the company’s intention to separate its commercial businesses, Otis and Carrier (formerly CCS), into independent entities. The separation will result in three global, industry-leading companies:

United Technologies, comprised of Collins Aerospace Systems and Pratt & Whitney, will be the preeminent systems supplier to the aerospace and defense industry. Collins Aerospace was formed through the combination of UTC Aerospace Systems and Rockwell Collins.

October 15, 2018 – Harris Corporation and L3 Technologies Combine: Harris Corporation and L3 Technologies, Inc.have agreed to combine in an all stock merger of equals to create a global defense technology leader, focused on developing differentiated and mission critical solutions for customers around the world.

The combined company, L3 Harris Technologies, Inc., will be the 6th largest defense company in the U.S. and a top 10 defense company globally, with approximately 48,000 employees and customers in over 100 countries.

June 20, 2018 – Valiant Integrated Services Completes Cubic Global Defense Services Acquisition: Valiant Integrated Services announced that it has closed on its purchase of Cubic Corporation’s Cubic Global Defense Services, a leading provider of training, operations, intelligence, maintenance, technical, and other support services to the U.S. government, its agencies and allied nations.

February 12, 2018 – General Dynamics Acquires CSRA: General Dynamics (NYSE: GD) and CSRA (NYSE: CSRA) today announced that they have entered into a definitive agreement under which General Dynamics will acquire all outstanding shares of CSRA. The transaction is valued at $9.6 billion.