Houlihan Lokey Advises SENTEL Corporation
Houlihan Lokey is pleased to announce that SENTEL Corporation (SENTEL) has been acquired by Vectrus Inc. (NYSE:VEC). The transaction closed on January 23, 2018.
This represents the first transaction from the newly acquired Bluestone Capital Partners team that has integrated into Houlihan Lokey's Aerospace, Defense & Government Services Group.
Headquartered in Alexandria, Virginia, and founded in 1986, SENTEL has more than 600 employees operating in three core business areas: engineering and advanced solutions, logistics and supply chain management, and intelligence mission support. SENTEL supports a diversified base of customers across the defense and intelligence communities as well as civilian agencies such as the Federal Aviation Administration and the Internal Revenue Service.
SENTEL is a recognized leader in developing information solutions designed for spectrum management systems, sensor networks, border surveillance systems, perimeter surveillance systems, and various other detection systems. The company also provides comprehensive global logistics support and has a track record of successfully managing clients' major facilities, supply chains, and assets worth in excess of $5 billion. SENTEL provides multidisciplinary mission support for various intelligence community clients and recently secured a prime contract to provide worldwide logistics management support services.
Formed in 2014 as a result of a spin-off from Exelis Inc., Vectrus provides facility and logistics services as well as information technology and network communication services to U.S. government customers around the world. Vectrus is headquartered in Colorado Springs, Colorado, and includes about 5,600 employees spanning 143 locations in 18 countries. In 2016, Vectrus generated sales of $1.2 billion. The acquisition of SENTEL expands Vectrus’ capabilities and accelerates the company’s transformation into a technology-enabled, differentiated platform. In particular, SENTEL’s expertise in advanced technology, engineering, sensor integration, and surveillance aligns with Vectrus’ strategy of becoming a leader in the converging physical and digital infrastructure environment. SENTEL also brings immediate access to additional customers across the defense and intelligence communities while broadening Vectrus’ logistics and mission support capabilities. The acquisition represents Vectrus’ first acquisition since its spin-off from Exelis in 2014 and is expected to be accretive to Vectrus' 2018 GAAP diluted earnings per share.
* Selected transactions were executed by Houlihan Lokey professionals while at other firms acquired by Houlihan Lokey, or by professionals from a Houlihan Lokey joint venture company.