Veritas Capital to Purchase Alion Science; Bahman Atefi Comments

Alion-logo_GovConWirePrivate equity investment firm Veritas Capital has agreed to purchase engineering services contractor Alion Science and Technology Corp. for an undisclosed sum.

Alion announced the transaction Thursday and said Veritas sought to acquire the McLean, Va.-based contractor for its presence in the defense, federal civilian, commercial, state government and international government markets.

Bahman Atefi, chairman and CEO of Alion, said the company will use the deal as an opportunity to restructure its capital structure and financial position.

According to a Dow Jones report, Veritas will pay $300 million in equity for Alion and UBS AG plans to assemble a $340 million financing package in support of the transaction.

Alion filed a registration statement with the Securities and Exchange Commission in April for a planned initial public offering, Dow Jones said.

Check Also

Cybersecurity

Rule Change to Add CMMC Requirements to Contracts Completes Interagency Review

The Department of Defense’s Cybersecurity Maturity Model Certification has undergone an interagency review as part of a rulemaking process needed to make CMMC a part of the Defense Federal Acquisition Regulations, FedScoop reported Tuesday.

US Navy battleships

Life Cycle Engineering, McKean Defense Win Shared $78M Navy IDIQ for Navigational Tech Support

Life Cycle Engineering and McKean Defense Group have been selected to help the U.S. Navy engineer shipboard navigational equipment under an indefinite-delivery/indefinite-quantity contract worth potentially $78.3M over five years.