Former Telos exec buys Navy contractor
Dave Aldrich leads group of investors on new venture
- By Tania Anderson
- Jul 19, 2010
Research and Engineering Development Inc., a systems integrator based in Lexington Park, Md., was bought by a group of private investors led by Dave Aldrich, who previously ran Telos Corp., and Techrizon LLC.
RED, which generated $30 million in revenue last year, provides research, development and test evaluation of military weapons systems. Its clients are primarily military departments, with a focus on naval aviation.
“RED Inc. is a wonderful organization, which has successfully supported the U.S. Navy since 1998,” said Aldrich, who formed DA Acquisition Corp. with a group of investors to acquire government contractors focused on C4ISR.
RED, a woman-owned small business, won a $120 million contract in February 2007 to provide technical and engineering support to the NAVAIR Human Systems Department. The Seaport Enhanced task order ends in 2012.
The investment banking firm the McLean Group served as an adviser to DA Acquisition.
For more on the mergers and acquisitions market, visit our page on government deals.
Tania Anderson is a contributing writer to Washington Technology.