By Jane Edwards
Vectrus (NYSE: VEC) has purchased integrated electronic security systems provider Advantor Systems for $44M from McCarthy Capital and Infrasafe.
Chuck Prow, president and CEO of Vectrus and a 2019 Wash100 winner, said in a statement published Monday the acquisition builds up the company’s presence as an innovator in the emerging converged infrastructure market and expands its geographic footprint and client base.
“Bringing decades of knowledge, experience, and technology that protects some of our nation’s most critical facilities and bases, this acquisition extends our maintenance of facilities to the electronic protection and security of facilities,” he added.
Orlando, Fla.-based Advantor has over 150 employees and posted $35M in 2018 revenue. The company provides command, control and communications networked security platforms, including Advantor Suite for Networks 6.2. It has a considerable presence in the Indo-Pacific Command area of responsibility and is one of the three firms whose offerings meet the U.S. Air Force’s Integrated Base Defense Security System requirements.
Advantor’s customers include the Air Force, U.S. Army, U.S. Navy, Air National Guard, the departments of State and Homeland Security, U.S. Forces Korea and Japan’s defense ministry.
Pillsbury, Winthrop, Shaw, Pittman acted as Vectrus’ legal adviser in the transaction. Raymond James & Associates was the investment banking adviser to Advantor, McCarthy Capital and Infrasafe. Latham & Watkins LP and RSM US LLP respectively served as legal and tax advisers to the sellers.
Vectrus used its existing credit facility and cash on hand to fund the transaction, which came more than a year after the company acquired SENTEL to grow its client base in the intelligence and federal civilian markets and expand its logistics, information technology and technical service offerings for customer agencies.