Akima to acquire training, sustainment product provider

Akima has agreed to acquire a provider of training and sustainment products as part of an ongoing push to gain more of a presence across military agencies.

By purchasing Pinnacle Solutions, Akima is pushing to broaden its portfolio of operations and training services. Terms of the transaction announced Monday were not disclosed.

Pinnacle was founded in 2008 by Mike Durant, a retired Army aviator who piloted a MH-60 Black Hawk helicopter that was shot down in 1993 during the Battle of Mogadishu in Somalia. Durant is chairman of Pinnacle's board of directors.

Huntsville, Alabama-headquartered Pinnacle touts its core service lines as including aviation operations and maintenance, flight operations, and other support for military platforms.

One of Pinnacle's largest single-award contracts is this $533.2 million program it secured in 2019 for unmanned aircraft instruction and mission support to the Army.

Akima is a subsidiary of the Alaska Native Corporation NANA that has 9,500 employees focused on logistics, IT, aerospace, engineering and other professional services to federal agencies.

Investment bank Houlihan Lokey acted as financial adviser to Pinnacle.