Amentum to Acquire DynCorp International

 In Americas, Industry, Acquisition, & Innovation, USA, Air

Amentum Holdings LLC and DynCorp International announced a defin­i­tive agree­ment under which an affil­i­ate of Amentum will acquire DynCorp.

The acqui­si­tion, once final­ized, will create one of the largest providers of mis­sion crit­i­cal sup­port ser­vices, with more than $6 bil­lion of com­bined rev­enue over the last 12 months. Financial terms of the trans­ac­tion were not dis­closed.

The com­bi­na­tion with DynCorp will accel­er­ate Amentum’s growth, enhance market access and trans­form the com­pa­ny into one of the largest in the indus­try, with more than 34,000 employ­ees in more than 30 coun­tries around the world.

“The com­bi­na­tion of our two com­pa­nies will accel­er­ate our growth into key new mar­kets such as avi­a­tion sup­port ser­vices, con­trac­tor logis­tics sup­port, intel­li­gence solu­tions, and train­ing,” said John Vollmer, Amentum’s CEO. “We look for­ward to wel­com­ing DynCorp’s employ­ees to the Amentum family. 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.”

“This strate­gic com­bi­na­tion of two market lead­ing com­pa­nies will deliv­er tremen­dous value to our cus­tomers and increased oppor­tu­ni­ties for our employ­ees,” said George Krivo, CEO of DynCorp.

The trans­ac­tion is sub­ject to cus­tom­ary clos­ing con­di­tions and reg­u­la­to­ry approvals. The trans­ac­tion is expect­ed to close in fourth quar­ter 2020.

RBC Capital Markets, LLC acted as finan­cial advi­sor 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 acted as DynCorp’s finan­cial advi­sors and Schulte Roth & Zabel LLP acted as legal coun­sel.

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