ECS founder Kapani buys new GovCon platform
Almost three years after he sold ECS Federal for $775 million, Roy Kapani is back in the federal market with the acquisition of Systems Engineering Associates Corp., also known as SEACORP.
Terms of the deal were not disclosed, but Kapani has taken on the role of chairman and CEO. Kapani replaces founder and now former owner Brian Gilligan, while the rest of the SEACORP management team led by President David Lussier remains in place.
Kapani said his committed to “maintaining the outstanding culture that their founder Brian Gilligan established and Dave Lussier and his team have nurtured for these past 40 years.”
Lussier said the acquisition by Kapani will “allow us to further build our brand, broaden our portfolio of capabilities and expand into new customers segments.”
Internal investments are planned as well as strategic acquisitions, Lussier said.
SEACORP primarily provides engineering services and technology to the United States. The company is the second largest contractor supporting the Naval Undersea Warfare Center in Newport, Rhode Island. The company is very active on the SeaPort-e vehicle and it employs more than 400 people.
According to USASpending.gov, the company had $30.6 million in contract obligations over the last 12 months. All of that is with the Defense Department, primarily the Navy.
Middletown, Rhode Island-based SEACORP lists its core capabilities as systems, software and hardware engineering, and test and evaluation services.
Houlihan Lokey served as a financial adviser to SEACORP with Duffy and Sweeney LLP acting as legal counsel. Kapani was advised by Skadden, Arps, Sltae, Meagher & Flom LLP and Piliero Mazza PLLC.
Posted by Nick Wakeman on Mar 24, 2021 at 9:51 AM