Transactions
February 1 2021
KippsDeSanto & Co. Advises Zenetex, LLC on its sale to Vectrus, Inc
KippsDeSanto & Co. is pleased to announce the sale of its client, Zenetex, LLC (“Zenetex” or the “Company”), to Vectrus, Inc. (“Vectrus”) (NYSE: VEC).
Headquartered in Herndon, VA, Zenetex provides mission-focused lifecycle military aviation and advanced engineering and information technology (“IT”) solutions for military and national security clients.
Zenetex primarily supports Naval Air Systems Command (“NAVAIR”), various other U.S. Department of Defense (“DoD”) and Intelligence Community (“IC”) customers, and various foreign militaries, with embedded positions on enduring programs of record and various classified defense programs. The Company has extensive expertise spanning integrated logistics, advanced engineering, IT, research, development, test, and evaluation (“RDT&E”), security services, and full-spectrum maintenance, repair & overhaul (“MRO”) services. Since 2008, Zenetex has grown to ~2,000 employees with more than $200 million in annual revenue and $700 million of contracted backlog.
The Zenetex acquisition is expected to accelerate Vectrus’ converged infrastructure strategy through the addition of critical new capabilities, including high-end integrated logistics and MRO support services. The transaction will also broaden Vectrus’ presence within NAVAIR and the IC and add new Foreign Military Sales customers.
We believe this transaction demonstrates several key trends in the government services mergers and acquisitions (“M&A”) market:
• Strategic buyers are using M&A to accelerate organic growth strategies and add new capabilities and customers
• Buyers continue to value prime, F&O contracts and backlog, along with infrastructure maturity and rapid growth
• Despite the economic volatility created due to the COVID-19 pandemic, M&A demand remains strong for well-positioned companies
LEAD INVESTMENT BANKERS
KippsDeSanto & Co. is pleased to announce the sale of its client, Zenetex, LLC (“Zenetex” or the “Company”), to Vectrus, Inc. (“Vectrus”) (NYSE: VEC).
Headquartered in Herndon, VA, Zenetex provides mission-focused lifecycle military aviation and advanced engineering and information technology (“IT”) solutions for military and national security clients.
Zenetex primarily supports Naval Air Systems Command (“NAVAIR”), various other U.S. Department of Defense (“DoD”) and Intelligence Community (“IC”) customers, and various foreign militaries, with embedded positions on enduring programs of record and various classified defense programs. The Company has extensive expertise spanning integrated logistics, advanced engineering, IT, research, development, test, and evaluation (“RDT&E”), security services, and full-spectrum maintenance, repair & overhaul (“MRO”) services. Since 2008, Zenetex has grown to ~2,000 employees with more than $200 million in annual revenue and $700 million of contracted backlog.
The Zenetex acquisition is expected to accelerate Vectrus’ converged infrastructure strategy through the addition of critical new capabilities, including high-end integrated logistics and MRO support services. The transaction will also broaden Vectrus’ presence within NAVAIR and the IC and add new Foreign Military Sales customers.
We believe this transaction demonstrates several key trends in the government services mergers and acquisitions (“M&A”) market:
• Strategic buyers are using M&A to accelerate organic growth strategies and add new capabilities and customers
• Buyers continue to value prime, F&O contracts and backlog, along with infrastructure maturity and rapid growth
• Despite the economic volatility created due to the COVID-19 pandemic, M&A demand remains strong for well-positioned companies
LEAD INVESTMENT BANKERS
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