On September 27, Chantilly, VA-based Amentum announced the completion of its merger with Jacobs Solutions Inc.’s Critical Mission Solutions and Cyber and Intelligence businesses. The combination creates a global leader in advanced engineering and innovative technology solutions, well positioned to address its customers’ most significant and complex challenges. Amentum will begin regular-way trading on the New York Stock Exchange on Monday, September 30, under the ticker symbol “AMTM.”
Amentum is a leading global engineering and technology services business serving the U.S. government and its allied partners. The company provides full lifecycle, advanced engineering and technology solutions across five key markets: environment, space, intelligence, defense and civilian. Amentum has extensive scale and global reach, supported by a highly skilled and diverse workforce of more than 53,000 people in approximately 80 countries.
“The completion of this transformational combination creates a global leader that advances the future, with the trusted track record of superior performance, outstanding engineering expertise, and leading-edge technologies required to meet our customers’ most significant challenges,” said Amentum CEO John Heller. “After a century of success delivering trusted solutions to our customers, Amentum enters the public markets well-positioned for long-term growth, with a healthy financial profile, strong balance sheet, and robust cash generation. This is a milestone day for our business, and our employees are excited about the future and to continue our success delivering value for all our stakeholders as a public company.”
Amentum is strategically positioned to serve a $320 billion total addressable market and will look to accelerate its growth in high-margin, technology-enabled segments. The company will execute against an industry-leading $47 billion backlog (as of fiscal year 2023), providing excellent visibility into profitable revenue growth, and expects to generate an estimated $14 billion in revenue in fiscal year 2025.
“With a legacy of over a century, Amentum has built a strong foundation of trust as a longstanding partner of choice to the U.S. government and its allied partners around the world,” said Steve Demetriou, executive chair of Amentum. “We are thrilled to bring together two deeply experienced, skilled and complementary teams with shared cultures of collaboration and innovation to drive growth in a highly attractive industry. I look forward to working with John and the board to shepherd the next phase of Amentum’s journey.”
The new executive leadership team will be led by John Heller, who will serve as chief executive officer and on the company’s board. Dr. Steve Arnette will serve as chief operating officer, Travis Johnson as chief financial officer, and Jill Bruning as chief technology officer of Amentum. Steve Demetriou will serve as executive chair of the company’s board. The company has also appointed a highly qualified and diverse board of directors, who bring significant public company leadership and government sector experience, as well as extensive operational, financial and capital markets experience.
Source: Amentum
Stay in the know with breaking news from across the IC and IC contracting landscape by becoming a paid subscriber to IC News. Your support makes our work possible.
By Loren Blinde
September 29, 2024
