Houston-based KBR said Friday its board of directors unanimously approved the proposed acquisition and the company expects to close the transaction in the second half of the year.
Frazer-Nash, which is projected to generate fiscal year 2022 revenue of between $150 million and $170 million, primarily offers professional advisory services to the defense, critical infrastructure and energy sectors in the U.K. and Australia.
Stuart Bradie, president and CEO of KBR, said the deal would continue the company’s “strategic journey” to bring digitally-enabled offerings to government clients across the globe.
KBR plans to integrate Frazer-Nash to the former’s government solutions business and use $175 million of cash on hand, plus $225 million of debt, to finance the transaction.
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