ASRC Acquires Military Logistics Firm
Charles Bell | Alaska Business
Channel for Growth
Science Applications International Corp. (SAIC) signed an agreement to sell its logistics and supply chain management business to ASRC Federal. The acquisition adds supply chain management and logistics capabilities for US Department of Defense agencies to ASRC Federal’s current procurement and warehousing services at military locations nationwide.
“This acquisition provides another channel for growth by further diversifying our robust set of capabilities,” says ASRC Federal President and CEO Jennifer Felix. “I am excited to welcome this mission-focused team who has earned a best-in-class reputation for delivering innovative solutions to their customers. Their work directly impacts the readiness of America’s warfighters, and they will bring tremendous capability to both new and existing ASRC Federal customers.”
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May 2024
The $350 million cash transaction is expected to close this spring, pending regulatory approval.
“The agreement allows for seamless transition and continued support for the logistics and supply chain management business and their important customer missions,” says SAIC CEO Nazzic Keene, “while enabling SAIC to concentrate resources in our Growth & Technology Accelerant areas of focus. These areas include Secure Cloud, Enterprise IT, and Systems Integration & Delivery, which now account for more than 30 percent of SAIC revenue.”
Approximately 240 employees will transition to ASRC Federal upon close of the sale. SAIC is headquartered in Reston, Virginia, but has locations in a dozen states, Guam, and Europe.
Jefferies LLC served as the exclusive financial advisor for the acquisition, and King & Spalding LLC served as legal counsel to SAIC. Gibson, Dunn & Crutcher LLP served as legal counsel to ASRC Federal.
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The track of oil and gas development in Alaska shows the footprints of bold companies and hard-working individuals who shaped the industry in the past and continue to innovate today. The May 2024 issue of Alaska Business explores that history while looking forward to new product development, the energy transition for the fishing fleet, and the ethics of AI tools in business.