Private equity investment firm Veritas Capital has agreed to purchase engineering services contractor Alion Science and Technology Corp. for an undisclosed sum.
AlionÂ announced the transactionÂ 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 willÂ use the deal as an opportunity toÂ restructure its capital structure and financial position.
According to a Dow Jones report, Veritas will payÂ $300 million in equity for Alion andÂ UBS AG plans to assemble a $340 million financing packageÂ 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.