Akima to acquire Pinnacle
On April 10, Herndon, VA-based Akima, LLC, a premier provider of products and services to federal agencies, announced that it has entered into a definitive agreement to acquire Pinnacle Solutions, Inc., a provider of innovative training and sustainment products and services to defense customers around the globe.
Leveraging a highly skilled workforce, Pinnacle provides aviation operations and maintenance services; flight operations and training services; and develops state-of-the-art training products and services for air, ground, unmanned, and maritime platforms. The specialized capabilities offered by Pinnacle will complement Akima’s portfolio and drive significant value for customers through broader delivery of operations and training capabilities.
“Akima and Pinnacle share a deep commitment to exceeding customer expectations and delivering exceptional value to our customers, employees, and shareholders,” said Bill Monet, president and CEO of Akima. “Combining Akima’s experience and technical expertise with Pinnacle’s differentiated mission readiness capabilities will enable us to solve our customers’ toughest challenges through innovative technology solutions.”
Headquartered in Huntsville, AL, Pinnacle was founded in 2008 by Mike Durant, a retired Army aviator who was shot down while piloting an MH-60 Black Hawk during the Battle of Mogadishu in 1993. Mr. Durant serves as chairman on the company’s board of directors.
“I founded Pinnacle with a vision for a company where mission-driven employees could bring their innovation, responsiveness, and flexibility to bear on our customers’ most critical aerospace challenges,” said Durant. “Joining Akima, which has a portfolio of complementary businesses and a similar culture, allows that vision to continue and serves the best interests of our employees and customers.”
“This announcement represents an important milestone for Pinnacle and is a testament to our tremendous success and strong market position,” said Tina Tucker, president and CEO of Pinnacle Solutions. “We look forward to leveraging Akima’s expertise supporting critical missions across the federal government, enabling us to deliver stronger outcomes for our customers and increased opportunities for our employees.”
Following the closing of the transaction, Pinnacle will operate as a wholly owned subsidiary of Akima. The transaction is subject to customary closing conditions and regulatory requirements. Terms of the transaction were not disclosed.
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