Small defense firm closes first deal
- By Nick Wakeman
- Oct 26, 2006
Even small players want in on the mergers and acquisition market.
McKean Defense Group LLC, a Philadelphia-based naval engineering and IT company, today announced the acquisition of Lloyd Lamont Design Inc., a Falls Church, Va., IT company.
McKean has about 35 employees and $5 million in annual revenue, and LLD has about 25 employees. Terms of the deal were not disclosed. It is McKean's first acquisition.
The acquisition moves McKean into more defense and civilian markets and expands capabilities in areas such as naval engineering and design, acquisition and logistics, systems safety, machinery controls engineering, IT solutions and knowledge-based applications, the company said.
McKean's customers include the Naval Sea Systems Command, the Naval Air Systems Command, the Marine Corps and the Space and Naval Warfare Systems Command.
LLD will become part of McKean's IT division.
Nick Wakeman is the editor-in-chief of Washington Technology. Follow him on Twitter: @nick_wakeman.