Amentum to acquire DynCorp
Germantown, MD-based Amentum Holdings LLC and McLean, VA-based DynCorp International announced on September 24 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.