SRA sells unit to Czech firm
By
Nick Wakeman
Divestiture part of SRA's strategy to focus on its core capabilities.
A Czech Republic defense and aviation manufacturer has acquired ERA from SRA International, which SRA bought three years ago in an attempt to diversify.
ERA makes a variety of sensor technologies that can be used for surveillance and flight tracking. ERA also has a research and development center in the Czech Republic.
Omnipol A.S. is buying ERA for an undisclosed amount. The company is a supplier of defense and public security projects and is a supplier to the aviation industry.
When SRA acquired ERA in April 2008, the company said it was part of a strategy to build SRA's product business to differentiate its services offerings.
The plan, however, never bore fruit. In 2010, the company sold part of ERA’s air traffic management business to ITT Corp.
When SRA was acquired by Providence Equity Partners, the decision was made to sell the rest of ERA as SRA focused on its core business of IT and strategic consulting services and solutions.
The investment bank Houlihan Lokey served as an adviser to SRA in the sale. The transaction fits two key trends in the market, a Houlihan statement said.
First is the trend of portfolio shaping as companies divest non-core assets and focus on core capabilities. And second is the global interest in air traffic management technologies.
SRA is ranked No. 30 on the Washington Technology 2011 Top 100 list of the largest government contractors.