Vectrus Inc. and The Vertex Company have completed their merger, creating the new $3.4 billion defense services company V2X [VEC], the company said on Tuesday.
V2X will be led by Chuck Prow, CEO, who previously headed Vectrus.
“Today’s milestone establishes V2X as a leading global provider of mission-essential solutions,” Prow said in a statement. “Through this transformative combination, we created a company with the scale and ability to compete for large integrated business opportunities by providing full life-cycle support across the converged environment.”
V2X has a wide range of capabilities in facilities support supply chain and logistics services, information technology mission support, sensor and platform integration, modernization and sustainment of platforms, aviation life-cycle support, maintenance, repair and overhaul of manned and unmanned aircraft, engineering and digital integration, integrated security for bases and facilities, and training solutions.
V2X will trade under the stock ticker symbol “VEC” through July 7, and then trade under the symbol “VVX” beginning July 8. The company will update its 2022 guidance when it reports second quarter financial results on Aug. 9.
V2X’s 11-member board includes six continuing directors designated by Vectrus—Prow, Mary Howell, chairman, Melvin Parker, Eric Pillmore, Stephen Waechter and Phillip Widman—and five designated by Vertex—Ed Boyington, Dino Cusumano, Lee Evangelakos, Joel Rotroff and Neil Snyder.