Veritas Capital (Veritas) announced on July 23rd that it will acquire Alion Science and Technology Corporation (Alion). The financial terms of the deal were not disclosed.
Alion provides engineering solutions and services in defense, homeland security, and other critical government areas. Alion’s annuals revenue reaches approximately $1 billion with over 2,700 employees across 37 states and 12 countries.
“Alion has distinguished itself with its advanced capabilities in systems analysis, agile engineering, modeling & simulation and naval architecture. The Company’s highly skilled engineers, scientists and analysts are trusted partners of the Federal Government and solve some of the most complex challenges faced by the U.S. Armed Forces. We look forward to applying our extensive experience in the government marketplace in support of the Company’s continued growth.” said Managing Patrner of Veritas, Ramzi Musallam.
“This transaction will enable Alion to reshape our capital structure, strengthening our financial position and ability to deliver solutions to our customers, while positioning the Company for long-term growth,” said Chairman and CEO of Alion, Bahman Atefi.“Veritas Capital is a world-class investment firm with a great track record of supporting the growth of innovative companies like Alion. We are excited by the prospect of leveraging the firm’s expertise and global relationships as we accelerate the growth of the Company.”
The financial advisors of the transaction was Credit Suisse and Wells Fargo. The legal advisors of the deal included Fried, Frank, Harris, Shriver & Jacobson LLP.
