Arlington Capital Partners has launched a new company after the private equity firm completed its purchase of the composites business and three aerostructure fabrication facilities from Triumph Group (NYSE: TGI). Both parties first announced the transaction in August 2020 and ACP said Monday that Pete Wick, who most recently led Triumph Group’...
Four U.S. military branches have placed orders worth more than $70 million for FLIR Systems‘ (Nasdaq: FLIR) Centaur ground robots and associated equipment. The Army, Navy, Air Force and Marine Corps ordered around 600 units of the medium-sized Centaur unmanned ground vehicle intended for explosive ordnance disposal missions, FLIR said Monday.&...
Leidos (NYSE: LDOS) completed its $380 million acquisition of Gibbs & Cox two and a half months after it announced the cash transaction on Feb. 23 with the intention of combining the Arlington, Virginia-based ship design firm with the company’s maritime systems division. Gibbs & Cox will be a wholly-owned subsidiary of Leidos and help...
General Dynamics‘ (NYSE: GD) missions systems business will modify the Knifefish unmanned undersea vehicle into the Block I configuration and provide engineering support services under a $72.8 million contract from the U.S. Navy. The Department of Defense said Friday General Dynamics Mission Systems is expected to finish retrofitting five UUVs...
Veritas Capital has closed its purchase of Perspecta and will integrate the latter with its portfolio company Peraton to create a combined entity focused on delivering enterprise information technology and mission capability integration support to federal, state and local government agencies. Stu Shea, chairman, president and CEO at Peraton and a 20...
Mark Gerencser, chairman of Business Executives for National Security (BENS), was presented his fourth Wash100 Award, the most prestigious award in all of government contracting (GovCon), for his stellar leadership as BENS’ chairman and other organizations as well as his drive and vision to establish a new national response and address our nationa...
Cybersecurity Maturity Model Certification is necessary for any government contractor to do business with the Department of Defense and its associated agencies. Certification is required to ensure government contractors have stringent and resilient cybersecurity systems to protect vital U.S. information assets against hacking from hostile actors and...
Stockholders of Perspecta (NYSE: PRSP) on Wednesday approved a proposal to be acquired by private equity firm Veritas Capital and be merged with its portfolio company Peraton. Holders of majority of Perspecta’s shares issued and outstanding as of March 18 voted in favor of the merger agreement, the company said Wednesday. With the approval, the...
General Motors has appointed Steve duMont, a former executive at the intelligence and space segment of Raytheon Technologies (NYSE: RTX), as president of its defense business arm, replacing Tim Herrick, who has been holding the post on an interim basis. duMont brings two decades of experience in working with big defense industry players, having serv...
Elbit Systems’ (Nasdaq: ESLT) U.S. subsidiary and a Textron (NYSE: TXT) business segment have partnered to build a prototype as part of their joint bid for the U.S. Marine Corps’ Advanced Reconnaissance Vehicle development program. The Cottonmouth prototype from Textron Systems and Elbit Systems of America will be equipped with the IronVision sy...
