IAP Worldwide Services said on Thursday that it has acquired two business units from DRS Technologies related to aircraft repair, and information technology (IT) and communications support, expanding its work with the Defense Department and federal agencies.
Terms of the deal, which closed on Wednesday, were not disclosed. IAP, which provides logistics, facilities management, and professional and technical services, said the deal more than doubles the size of its addressable market.
An IAP spokeswoman told Defense Daily that the two DRS business units combined have more than 200 employees, bringing Florida-based IAP’s workforce to over 2,000 employees.
IAP acquired DRS’ aviation and logistics business located in Oklahoma City, Okla., adding aircraft repair and maintenance management to its portfolio. The aviation and logistics business supports the Defense Department and other federal agencies.
The tactical communications & network solutions business that IAP also acquired from DRS is based at Aberdeen Proving Ground in Maryland and provides engineering, IT, and communications support solutions to DoD and other agencies.
“The addition of these aviation, communication and networking technologies businesses from DRS are a natural fit for IAP, expanding our portfolio of services and solutions to U.S. and international government agencies and organizations,” Doug Kitani, IAP’s CEO, said in a statement. “We established a strategy earlier this year based on organic growth through customer-focused discipline, lean operations, and innovation in our core government services segment, and inorganic growth realized by acquiring and integrating companies that complement our core business.”
IAP is organizing the two new business units, and its existing national security programs unit, into a new business called aviation & engineering solutions.
DRS, which is a U.S.-based division of Italy’s Finmeccanica, declined to comment on the divestment of the two businesses.