Veritas Capital to buy Alion

Veritas Capital said Thursday it has agreed to buy Alion Science and Technology Corp. Financial terms weren’t announced. Mclean, Virginia-based Alion provides engineering solutions and services that address issues relating to national defense, homeland security and other government areas. Credit Suisse and Wells Fargo advised Alion.

PRESS RELEASE

New York, NY and McLean, VA, July 23, 2015 – Veritas Capital (Veritas), a leading private equity investment firm, today announced that an affiliate of Veritas has signed a definitive agreement to acquire Alion Science and Technology Corporation (Alion). Financial terms of the transaction were not disclosed.
Founded in 1936, Alion is a leading global provider of engineering solutions and services that address problems relating to national defense, homeland security and other critical government areas. Alion’s engineered solutions support smarter decision-making and enhanced readiness in rapidly-changing environments for customers including the U.S. Department of Defense, federal civilian agencies, commercial customers and state and foreign governments. With approximately $1 billion in annual revenue, Alion has more than 2,700 employees located in 37 states and 12 countries.
Ramzi Musallam, Managing Partner of Veritas, said, “Alion has distinguished itself with its advanced capabilities in systems analysis, agile engineering, modeling & simulation and naval architecture. The Company’s highly skilled engineers, scientists and analysts are trusted partners of the Federal Government and solve some of the most complex challenges faced by the U.S. Armed Forces. We look forward to applying our extensive experience in the government marketplace in support of the Company’s continued growth.”
“This transaction will enable Alion to reshape our capital structure, strengthening our financial position and ability to deliver solutions to our customers, while positioning the Company for long-term growth,” said Bahman Atefi, Chairman and CEO of Alion. “Veritas Capital is a world-class investment firm with a great track record of supporting the growth of innovative companies like Alion. We are excited by the prospect of leveraging the firm’s expertise and global relationships as we accelerate the growth of the Company.”
Credit Suisse acted as lead financial advisor to Alion on the transaction and Wells Fargo also served as a financial advisor. Fried, Frank, Harris, Shriver & Jacobson LLP served as legal advisor to Alion on the transaction.
About Alion
Alion Science and Technology Corporation delivers advanced technology solutions and operational support to the U.S. Federal government to strengthen national security and drive business results. Alion’s services enable customers in the defense, civilian government and commercial industries to better handle rapidly-changing environments and operate more efficiently. Alion brings expertise and experience to multiple business areas: Naval Architecture and Marine Engineering; Systems Analysis, Design and Engineering; and Modeling, Simulation, Training and Analysis. More information can be found on the company’s web site at www.alionscience.com.
About Veritas Capital
Veritas Capital is a leading private equity firm that invests in companies that provide critical products and services to government and commercial customers worldwide including those operating in aerospace & defense, healthcare, technology, national security, communications, energy and education. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. For more information on Veritas Capital and its current and past investments, visit www.veritascapital.com.