in Defence

Serco set to acquire WBB

Posted 16 February 2021 · Add Comment

Serco Group plc has agreed to acquire Whitney, Bradley & Brown Inc (WBB), a provider of advisory, engineering and technical services to the US Military, for $295 million, from an affiliate of H.I.G. Capital.



Image courtesy Serco 
/ Osprey Media

The acquisition will increase the scale, breadth and capability of Serco’s North American defence business and will give Serco a strong platform from which to address all major segments of the US defence services market. The acquisition will be immediately accretive to earnings and will be funded through existing debt facilities; it is expected to complete in the second quarter of 2021, subject to regulatory approvals.

Commenting on the acquisition, Rupert Soames, Serco Group Chief Executive, said: “Growing the scale, reach and capability of Serco in the largest defence market in the world is one of our strategic objectives, and the acquisition of WBB significantly advances that strategy. Following the acquisition of the Naval Systems Business Unit of Alion in 2019, which increased the size of our US Navy business by 70%, WBB takes our North American defence revenues to around $1.1bn and gives us credible positions in other parts of the market including Air Force, Space Force, Army, the Missile Defense Agency and the Office of the Secretary of Defense. 

"It creates a powerful platform for future growth and brings us impressive new capabilities in areas such as Advanced Data Analytics, AI & Machine Learning and Precision Navigation and Timing, along with a team of renowned Subject Matter Experts covering a wide range of disciplines that can be deployed across our business.  I greatly look forward to welcoming the WBB management team led by their CEO Robert Olsen along with 1,000 skilled WBB people to Serco and working with them and other colleagues as we build a strong global defence business.

"The acquisition will be immediately accretive to our margins and to our earnings per share and the recent strong cash performance allows us to execute this acquisition within our existing debt facilities whilst staying well within our target leverage ratio.”




 

Other Stories
Advertisement
Latest News

Raytheon UK's Landshield foils jammers

Raytheon UK’s next-gen GPS anti-jamming system, Landshield, has been developed to not only provide alerts on the presence of interfering signals and data in real time but also nullifies the effects of a whole range of hostile jammers.

Horizon Technologies secures FlyingFish order at IDEX 2021

Horizon Aerospace Technologies Division has received an order for a FlyingFish FF3/S Sat Phone geolocation system (and ancillary items) from a UAE prime contractor yesterday at IDEX 2021 in Abu Dhabi, for use on a surveillance aircraft

TAM to enhance airport ops across the value chain

Frost & Sullivan's recent analysis, Data Integration to Drive Global Total Airport Management (TAM) Market Growth, 2030, finds that total airport management (TAM) aims to address multiple challenges faced by airports across

Menzies and Vestergaard trial electric deicing unit at Oslo Airport

Menzies Aviation today announced its trial of the Vestergaard Elephant e-BETA, a new electrically operated de-icing unit, at Oslo Airport.

UK space sector gets new government support

A series of measures to support the UK’s space sector in building back better have been outlined by the government today.

UK and Australia to accelerate advanced materials integration

The UK and Australian governments are funding innovative proposals to integrate advanced materials into military platforms such as armoured vehicles.

ODU UK SK0902311221
See us at
Security & Policing 2021 BTDSEI bt1602170921