Huntington Ingalls Industries to acquire Texas company

Published May 16, 2014 by Robert Powell, III

Newport News-based Huntington Ingalls Industries plans to acquire UniversalPegasus International Holdings, a Texas firm that provides engineering and project management services to energy companies.

Houston-based UniversalPegasus is privately held and has 1,500 employees.

It provides project management, engineering, design, survey, inspection and construction management to energy customers.

The transaction is subject to federal anti-trust review and customary closing conditions.

The deal is expected to close in June. Financial details were not disclosed.

In January, Huntington Ingalls acquired S.M. Stoller Corp., a Colorado-based consulting and engineering services firm serving the nuclear power industry.

After the latest acquisition closes, UniversalPegasus will report to Chris Kastner, Huntington Ingalls’ corporate vice president and general manager, corporate development.

Huntington Ingalls provides a wide variety of products and services to the commercial energy industry and government agencies, including the Department of Energy

The company’s principal business is building and maintaining ships for the U.S. Navy and Coast Guard.

Huntington Ingalls employs more than 38,000 workers in Virginia, Mississippi, Louisiana and California.

The company’s subsidiary, Newport News Shipbuilding, is the largest industrial employer in Virginia, with more than 22,000 workers.