COLORADO SPRINGS, Colo.,
Jan. 4, 2021 /PRNewswire/ -- Vectrus,
Inc. (NYSE: VEC) announced today that it has acquired HHB Systems,
a leading provider of high-end solutions for facilities management,
logistics, engineering, enterprise operations, and asset management
solutions supporting Intelligence Community (IC) projects.
Additionally, HHB provides information technology and cybersecurity
solutions to select clients.
Founded in 2003, HHB Systems brings comprehensive and proven
capabilities which advance Vectrus' ability to deliver innovative,
integrated solutions and further differentiates the company as a
leader in the converged infrastructure market.
"The acquisition of HHB brings integrated solutions that support
physical and digital infrastructures within the intelligence
community and creates a stronger platform from which we can deliver
fully converged solutions across all our clients' missions," said
Sue Deagle, Senior Vice President
and Chief Growth Officer of Vectrus. "I am delighted to welcome the
talented employees of HHB to Vectrus. We look forward to building
upon the HHB team's past performance, reputation, and long-standing
and trusted relationships in the Intelligence Community."
Headquartered in Springfield,
Virginia, HHB Systems has a 17-plus-year history of
providing technology-enabled services and solutions to the
Intelligence Community. The company has more than 50 highly skilled
employees, 95% of which are cleared at Top Secret or
above.
"Importantly, the acquisition of HHB further builds on our
recently announced acquisition of Zenetex and together these
acquisitions advance Vectrus' transformation into a higher-value,
technology-enabled and differentiated platform. The Zenetex and HHB
teams work together in the Intelligence Community market today, and
the expanded opportunities under Vectrus to reach our existing DoD
and IC clients open the aperture to even greater growth," Ms.
Deagle concluded.
Vectrus funded the acquisition from cash on hand and its
revolving line of credit.
About Vectrus
Vectrus is a leading provider of
global service solutions with a history in the services market that
dates back more than 70 years. The company
provides facility and base operations; supply chain and
logistics services; information technology mission support;
and engineering and digital technology services primarily
to U.S. government customers around the world. Vectrus is
differentiated by operational excellence, superior program
performance, a history of long-term customer relationships and a
strong commitment to its clients' mission success. Vectrus is
headquartered in Colorado Springs, Colo., and includes about
7,100 employees spanning 148 locations in 26 countries and
territories. In 2019, Vectrus generated sales of $1.4 billion.
For more information, visit the company's website
at www.vectrus.com or connect with Vectrus
on Facebook, Twitter, and LinkedIn.
Forward Looking Statements
Safe Harbor Statement under
the Private Securities Litigation Reform Act of 1995 (the "Act"):
Certain material presented herein includes forward-looking
statements intended to qualify for the safe harbor from liability
established by the Act. These forward-looking statements include,
but are not limited to, the possibility that anticipated benefits
of the acquisition may not be realized or may take longer to
realize than expected; the possibility that costs related to the
company's integration of HHB's operations may be greater than
expected and/or that revenues following the acquisition may be
lower than expected; the effect of the transaction on the ability
of the company to retain customers and retain and hire key
personnel of HHB and maintain relationships with their suppliers
and customers, including the U.S. Government; responses from
customers and competitors to the acquisition; the risk that the
integration of HHB may distract management from other important
matters; results from the acquisition may be different than those
anticipated; other statements about our 2020 performance outlook,
five-year growth plan, revenue, DSO, contract opportunities; the
potential impact of COVID-19, and any discussion of future
operating or financial performance.
Whenever used, words such as "may," "are considering," "will,"
"likely," "anticipate," "estimate," "expect," "project," "intend,"
"plan," "believe," "target," "could," "potential," "continue,"
"goal" or similar terminology are forward-looking statements. These
statements are based on the beliefs and assumptions of our
management based on information currently available to
management.
These forward-looking statements are not guarantees of future
performance, conditions or results, and involve a number of known
and unknown risks, uncertainties, assumptions and other important
factors, many of which are outside our management's control, that
could cause actual results to differ materially from the results
discussed in the forward-looking statements. For a discussion of
some of the risks and important factors that could cause actual
results to differ from such forward-looking statements, see the
risks and other factors detailed from time to time in our Annual
Report on Form 10-K, Quarterly Reports on Form 10-Q, and other
filings with the U.S. Securities and Exchange Commission.
We undertake no obligation to update any forward-looking
statements, whether as a result of new information, future events
or otherwise, except as required by law.
CONTACT:
Vectrus
Mike Smith, CFA
719-637-5773
michael.smith@vectrus.com
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SOURCE Vectrus, Inc.