An affiliate of Amentum Holdings LLC has agreed to purchase DynCorp International in a deal that will create one of the largest mission critical support services providers, with over $6 billion of combined revenue over the last 12 months.
The combination of the two companies will drive Amentum’s growth in new markets including aviation support services, contractor logistics support, intelligence solutions and training, company CEO John Vollmer said in Sept. 24 statement.
“We look forward to welcoming DynCorp’s employees to the Amentum family,” he added. “Our complementary capabilities and cultures will propel Amentum to the top of our market as a leader with differentiated solutions to support our clients’ most challenging missions.”
DynCorp. CEO George Krivo said the combination “will deliver tremendous value to our customers and increased opportunities for our employees.”
The transaction is subject to customary closing conditions and regulatory approvals. It’s slated to be finalized in the fourth quarter of 2020.
RBC Capital Markets, LLC served as financial adviser to Amentum; Cravath, Swaine & Moore LLP acted as legal counsel and Covington & Burling LLP acted as regulatory and government contracts counsel. Citigroup Global Markets Inc. and Morgan Stanley & Co. LLC were DynCorp’s financial advisers and Schulte Roth & Zabel LLP acted as legal counsel.
Financial terms of the transaction were not disclosed.