A Note From Our President & Founder Jim Garrettson
Interest rates are all but certain to go up in December and one large defense contractor has seemingly gotten ahead of the game to make one more big buy before the Federal Reserve moves.
L-3 Communications announced after the close Tuesday it has put down an initial $280 million for U.K.-based MacDonald Humfrey Automation, a provider of screening technology to airports around the world, in a push by the former to increase its aviation security market presence.
NYC-based L-3 will pay an additional $37.5 million depending on MacDonald Humfreyâs performance from 2017 to 2019 post-transaction.
This deal brings L-3âs total acquisition announcements this year to nearly $480 million since the company offloaded its government services business in February to focus on technology products and platforms along with aerospace maintenance and training work.
That sale of “National Security Solutions” to CACI gave L-3 an approximate $550 million warchest for the latterâs capital deployment strategy that includes shareholder returns and acquisitions.
L-3 COO Chris Kubasik signaled in October to investors the company planned to continue its search for targets and said the contractor âmay announce a few more before the end of 2016 or early next year.â
Interest rates went up last December after four years of near-zero levels that encouraged heightened M&A activity everywhere and certainly helped spur the well-documented GovCon deal spree.
With three weeks left before the Fed meets again, contracting industry observers now watch to see if anyone else gets ahead of the game.
Or like Kubasik hinted, whether L-3 will continue its trademark as an active buyer.
The National Oceanic and Atmospheric Administration has awarded 18 companies positions on a 10-year, follow-on contract for professional, technical and scientific services in the oceans domain. NOAA competed the ProTech 2.0 Oceans Domain contract as a total small business set-aside program with 19 offers received during the first phase and 19 proposals secured during the
The National Oceanic and Atmospheric Administration has awarded 21 companies positions on a follow-on contract for professional, technical and scientific services in the fisheries domain. NOAA competed the ProTech 2.0 Fisheries Domain contract as a total small business set-aside program with 26 offers received, according to award notices published Friday in the Federal Procurement Data
New York-based construction and development company Skanska has secured a $146.8 million contract from the U.S. Navy to design and build a new National Oceanic and Atmospheric Administration facility on Naval Station Newport in Rhode Island. The Atlantic Marine Operations Center must accommodate four large vessels and feature a floating dock for smaller vessels, a