Tuesday, August 10, 2010
Wyle Buys Systems Engineering Firm
El Segundo-based Wyle, a provider of systems engineering, testing, and information technology services, said today that it has agreed to acquired CAS, Inc., a division of ITT Corporation, which provides systems engineering and technical assistance to the U.S. Department of Defense. The firm said the acquisition will be funded by approximately $20M in equity from Court Square Capital Partners, plus approximately $200M in incremental debt. The firm said the acquisition will create a firm with pro forma, 2009 revenues of approximately $1 billion. CAS was founded in 1979 and is based in Huntsville, Alabama. The debt portion of the acquisition capital is coming from Barclays Capital and JP Morgan Chase.