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Kingswood Closes Versar Acquisition, Names New CEO for Project Mgmt Firm

Versar has gone private after the close of its acquisition by an affiliate of investment firm Kingswood Capital Management via a tender offer of $0.15 per outstanding share and a second-step merger. The formerly publicly traded project management company said Tuesday the new capital structure serves to build on its long-term strategic goals. …

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Versar OKs Acquisition Offer From Kingswood Capital Management

Versar has agreed to be purchased by affiliates of Los Angeles-based private equity firm Kingswood Capital Management through a cash tender offer. Kingswood agreed to buy all outstanding shares of stock in the Springfield, Virginia-based project management company for 15 cents per share and begin the cash tender offer no …

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Army Taps 7 Companies for $173M CBRN Material Mgmt Support Contract

The U.S. Army has awarded seven companies spots on a potential $172.7 million contract to help the service branch manage chemical, biological, radiological and nuclear defense-related materials. The Defense Department said Wednesday contractors will compete for task orders to evaluate, identify, locate, recover and dispose of munitions, explosives, munition constituents, chemical …

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11 Firms Win Spots on $950M Air Force Facility Design, Construction & Engineering IDIQ

The U.S. Air Force has selected 11 companies to compete for delivery orders to design, build or engineer facilities and infrastructure for the military branch under a potential five-year, $950 million contract. The 772nd Enterprise Sourcing Squadron received 13 offers for the indefinite-delivery/indefinite-quantity contract via a competitive acquisition process, the Defense Department said Tuesday. DoD noted contractors will …

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Versar Finalizes Johnson Controls Security Systems Buy

Versar (NYSE: VSR) has closed its purchase of the federal security systems integration business of Johnson Controls for $20 million in cash and contingent payments. The companies unveiled the deal last month and Versar said Thursday that Johnson Controls Security Systems changed its name to Versar Security Systems following the …

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Versar to Buy Johnson Controls’ Federal Security Systems Integration Business; Tony Otten Comments

Versar (NYSE: VSR), a project management company, has agreed to purchase a Johnson Controls subsidiary that works with federal customers to design, install and support physical and network security systems. Versar expects to wrap up the acquisition of Johnson Controls Security Systems by Sept. 30 in a transaction that includes $20 …

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Versar Secures Contract for Afghanistan Work

Versar (NYSE Amex: VSR) secured a $13.4 million task order to continue construction management and quality assurance operations in Afghanistan. According to the firm, “This task order will allow Versar to continue to provide engineering support, construction management and quality assurance operations in Afghanistan through September 2011 for the Air …

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Versar Schedules Call

Versar (NYSE Amex:VSR) scheduled a conference call for 2:00 p.m. EDT on May 17, to review the company’s operational performance and financial results for the third quarter of its fiscal year 2011. According to the firm, “Versar will release its third quarter 2011 Form 10-Q on May 16, and financial …

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Versar Books Iraq Work

Versar (NYSE Amex: VSR) secured a $1.5 million contract from the United States Forces-Iraq for Operations and Maintenance Training of Iraqi Ministry of Defense personnel. According to the firm, “this contract will train and certify over 300 Iraqi Engineers and Technicians to operate and maintain electrical generation, water and waste …

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Versar Inks Contract Modifications

Versar (NYSE Amex: VSR) won a pair of contract modifications from the Army Corps of Engineers for ongoing projects in Iraq and Afghanistan. The first extends the firm’s services in support work in Iraq by three months and $2.7 million. According to the firm, the second modification “added to the …

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