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In 2022, the GovCon landscape saw announcements and completions of merger-and-acquisition deals at privately held, publicly traded and private equity backed companies that sought to expand what they could offer to their federal customers. Continuing reading below for Executive Mosaic editorial team’s rundown of transactions and insights from i...
A joint venture between the Greenlandic unit of Vectrus and construction company Permagreen has won a potential 12-year, $3.95 billion contract from the U.S. Air Force to operate and maintain the Thule Air Base in Greenland. Detachment 1 of USAF’s 21st Contracting Squadron in Copenhagen, Denmark, received four proposals for the indefinite-deli...
When Vectrus and The Vertex Company completed their merger to form V2X in July, the enterprise’s projected pro forma revenue was approximately $3.4 billion. As the year comes to a close, V2X now has a combined backlog of over $12 billion, which is three and a half times more than early estimates anticipated. Leading the merged entity’s...
V2X (NYSE: VVX) reported $958.2 million in revenue during the third quarter of 2022 and saw its pro forma revenue climb 10 percent year-over-year to $961.3 million. The company said Tuesday the quarterly results reflect the contributions of Vectrus between July 1 and end of September and Vertex from July 5 to Sept. 30. On...
Executives from government contracting and private equity firms met Thursday at the Raymond James 2022 Defense & Government Conference to share their perspectives on the federal market’s current environment and investors’ appetite for GovCon business. More than 700 attendees heard from some of the most influential individuals across ...
The U.S. Army plans to compete four Care of Supplies in Storage task orders in support of the Army Prepositioned Stock program among four prime contractors under the Logistics Civil Augmentation Program V contract, DVIDSHub reported Wednesday. These LOGCAP V contractors are Vectrus, which is being renamed V2X (NYSE: VVX) as a result of its...
The Vertex Company, which recently merged with Vectrus to form V2X (NYSE: VVX), has won a potential $280 million contract to help the U.S. Navy maintain training aircraft for service aviators and flight officers. The seven-year contract will include intermediate-level maintenance support for the T-6 Texan, T-44 Pegasus, T-45 Goshawk, TH-57 Sea Range...
The rise of electronic warfare, or EW, has fueled an increase in demand for electromagnetic spectrum operations and capabilities across the GovCon landscape. This heightened demand is manifesting in increased interest and investments in 5G-enabled technologies, smart facilities, Internet of Things and more as spectrum sharing becomes more prevalent ...
V2X (NYSE: VVX) reported $498 million in sales for the second quarter of 2022, up 6 percent from the prior-year period, and said the quarterly results for the period ended July 1 reflect contributions of Vectrus prior to the completion of its merger with The Vertex Company. In early July, Vectrus closed its all-stock merger...
Frank Peloso, an aerospace and defense industry veteran, has been appointed senior vice president of human resources at Sierra Nevada Corp. He will manage the development and implementation of SNC’s people strategy, talent acquisition, learning and development, benefits and total reward, inclusion, diversity and equity programs and other HR-relate...
