Harris Corp. [HRS] has completed its $525 million acquisition of managed communications services provider CapRock Communications, giving Harris an entry into the energy market and expanding its global presence in the managed communications services space.
CapRock’s customers include the energy industry, the Departments of Defense and Homeland Security, and other federal agencies. The company’s CEO, Peter Shaper, will serve as its president going forward.
Harris said in May when it announced plans to acquire CapRock that it expects demand to increase of outsourced managed communications services (Defense Daily, May 24).
CapRock had $359 million in sales last year and $54 million in earnings before interest, taxes, depreciation and amortization.
It was majority owned by the private equity firm ABRY Partners.