Colo.-based company acquires Herndon contractor for $112M
Vectrus buys Zenetex
Colorado Springs, Colorado-based tech contractor Vectrus announced Dec. 28, 2020, that it would acquire Herndon-based Zenetex — a transaction valued at $112 million.
Vectrus provides operations, logistics and IT services to the U.S. government, and Zenetex provides services to defense and national security clients. The acquisition will expand Vectrus’ client base and adds more than $700 million to its contract backlog.
“I am excited to welcome the Zenetex employees to Vectrus,” Vectrus President and CEO Chuck Prow said in a statement. “Zenetex broadens our reach into the intelligence community and expands our engineering and digital technology offerings, which is critical as we expand our capabilities to help our clients transition to a more instrumented and converged approach to supply chain and facility management.”
This year, Zenetex is expected to generate more than $200 million in revenue. In 2019, Vectrus generated sales of $1.4 billion.
“Zenetex and Vectrus make an extremely powerful combination and I couldn’t be happier with this next step in our team’s journey,” Zenetex Chairman and CEO Mark Green said in a statement.
Skadden, Arps, Slate, Meagher & Flom LLP, Ernst & Young, Covington & Burling LLP and Wolf Den Associates advised Vectrus during the transition. Zenetex used KippsDeSanto & Co. and Greenberg Traurig LLP as advisers.