WT Business Beat

By Nick Wakeman

Blog archive
Nick Wakeman

Veritas closes Alion deal

Veritas Capital closed its acquisition of Alion Science & Technology this week, taking the employee-owned company off the IPO track it was on.

The private equity firm and the company remain silent on the value of the deal, though Dow Jones reported the value as in the $300 million range.

In June, Alion filed for an initial public offering of its stock as a way to raise capital to pay down debt, but in late July, Veritas Capital swooped in bought the company to add to its portfolio.

The deal with Veritas will allow Alion to reshape its capital structure and strengthen its financial position, Chairman and CEO Bahman Atefi said at the time the deal was announced.

Veritas was interested in Alion for its capabilities in systems analysis, agile engineering, modeling and simulation and naval architecture.

According to its financial filings for its IPO, Alion had $847.3 million in 2014 revenue and debt of $561 million as of March 31, 2015.

Alion's management team remains in place.

Posted by Nick Wakeman on Aug 21, 2015 at 11:21 AM


Reader Comments

Please post your comments here. Comments are moderated, so they may not appear immediately after submitting. We will not post comments that we consider abusive or off-topic.

Please type the letters/numbers you see above

What is your e-mail address?

My e-mail address is:

Do you have a password?

Forgot your password? Click here
close

Trending

  • VIDEO: Explore the 2019 M&A Trends

    Editor Nick Wakeman interviews Kevin DeSanto of the investment bank KippsDeSanto about the highlights of their annual M&A survey and trends driving acquisitions in the federal space. Read More

  • PROJECT 38 PODCAST

    In our latest Project 38 Podcast, editor Nick Wakeman and senior staff writer Ross Wilkers discuss the major news events so far in 2019 and what major trends are on the horizon. Read More

contracts DB

Washington Technology Daily

Sign up for our newsletter.

Terms and Privacy Policy consent

I agree to this site's Privacy Policy.