Valiant Integrated Services on Friday said it closed its $135 million acquisition of Cubic Corp.’s [CUB] Global Defense Services (GDS), the company’s largest acquisition and one that accelerates its customer services and support capabilities.
“We have every confidence that our customers and partners across the globe will benefit from Valiant’s now-extended and enhanced core capabilities and service offerings,” James Jaska, Valiant’s CEO, said in a statement.
The GDS business is expected to have about $375 million in sales this year and brings with it 3,500 employees operating in 10 countries, expanding Valiant’s employee count to more than 5,000 in more than 30 states and 20 countries. GDS works with customers to help their forces with comprehensive training, exercises, staff augmentation, education, and other assistance to meet mission requirements.
Valiant participates in seven market areas, including facilities management, base operations and support services, expeditionary logistics, subsistence and commodity supply chain, contingency contracting, training, mission support, and the intelligence community.
For Cubic, the deal allows it to focus on its core transportation and defense businesses. In addition to the purchase price, which was paid in cash, the deal includes $3 million in contingent consideration based on contract wins over the next one to two years.
“As we continue to reshape and strengthen our portfolio of businesses, we will focus on building market-leading positions where we can leverage our technological and thought leadership to provide innovation-driven solutions to our customers’ advantage,” Bradley Feldmann, Cubic’s chairman, president and CEO, said in a statement.