“Amentum’s expertise in managing important national security missions with partner nations will be strengthened by modernizing construction delivery, smart logistics networks, sustainable training approaches and safe laboratory operations,” said Mark Whitney, President, Amentum’s National Security Group. “Our threat reduction capabilities and experience will enhance the ability of BTRP’s partners to detect and prepare for any biological threats that may impact our country, allies, and the African region.”

Under this contract Amentum will work with the African Union’s Pan African Veterinary Vaccine Center in Bishoftu, Ethiopia to enhance biosafety and biosecurity of the facility. Amentum’s work will include construction and engineering of a new laboratory and training facility; equipment procurement, delivery, and installation; operations and maintenance support, and biosafety. Amentum will also deliver biosecurity training to ensure the center is sufficiently equipped to protect biological assets and implement a bio risk management program.

The award has a three-year base period of performance with several options which can extend the period of performance to five years. Work will be performed within and outside the continental United States with specific focus on BTRP partners in Ethiopia and the African Union.

About Amentum

Amentum is a leader in global engineering, project management and solutions integration, trusted to modernize the most critical missions anywhere in the world. Driven to create a safer, smarter, cleaner world, we innovate as a team of inventive doers passionate about making a difference. Underpinned by a strong culture of ethics, safety and inclusivity, Amentum is fiercely committed to operational excellence and successful execution. Headquartered in Chantilly, Virginia, we have more than 44,000 employees in 85 countries in all 7 continents. Visit us at amentum.com to learn how we solve what’s next.

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CHANTILLY, VA., November 20, 2023 – Amentum announced today a definitive agreement to merge with Jacobs’ (NYSE:J) Critical Mission Solutions (CMS) and Cyber and Intelligence (C&I) businesses, creating a new leader in systems integration and technology solutions trusted by the United States and its allies to modernize their most complex missions around the world. The combined organization will be a publicly traded company with $13 billion in revenue and more than 53,000 employees in 83 countries.

“Uniting our great organizations – Amentum, CMS, and Cyber & Intelligence Solutions – creates a leading provider of systems integration and technology solutions with the talent, scope, scale and footprint to deliver excellence and a wider range of solutions for our clients,” commented Amentum CEO John Heller. “Our combined company will deliver extensive expertise in the government’s highest priority areas of energy, space exploration, intelligence and analytics, and digital modernization. We look forward to the union of our strong teams and a bright future ahead.”

The transaction was approved by the Jacobs board of directors and is subject to customary closing conditions, including regulatory approvals. The transaction is expected to close in the second half of fiscal year 2024.

Governance and Management

Upon completion of the deal, John Heller, current CEO of Amentum, will serve as CEO of the combined company and sit on the combined company’s board, and Dr. Steve Arnette, EVP and President of CMS, will serve as COO. Jacobs’ current Executive Chair Steve Demetriou will become Executive Chair of the combined company.

The board of directors of the combined company will be composed of an equal number of directors appointed by Jacobs and Amentum. Members of the combined company’s senior management team will be drawn from both companies and will be announced later as integration planning progresses.

Strategic Rationale of the Combination

• Creates a leading, pure play government technology solutions prime: ~$13 billion in combined revenue[1], with more than 80% from prime contracts serving the full program life cycle for government clients, and a combined talent base of more than 53,000 skilled employees – including more than 27,000 cleared employees.
• Stable revenue base with attractive, diversified portfolio mix: Combines stable base of large government contracts with strong capabilities in growing client priority areas. A large majority of future EBITDA of the combined company is expected to come from higher growth, higher margin intelligence, cyber, energy, digital engineering, and science and technology sectors, with a strong foundation of long-term and large-scale DoD contracts.
• Highly complementary strengths: Amentum brings expertise in engineering solutions, complex program management, and solutions integration to modernize customers’ most important missions. Jacobs’ contributed businesses bring world-class engineering and science capabilities, with unique expertise in sectors such as space, cyber & intelligence, and energy.
• Shared vision and aligned values: Each organization brings an intense focus on the mission and delivery of the highest quality service for their clients. The organizations share common values, including a commitment to safety, inclusion and diversity, and creation of enhanced opportunities for the combined employee base.
• High visibility cost synergies: Management has identified approximately $50-70 million of estimated net cost synergies. Both organizations have track records of effective synergy realization and will work to target additional synergies during integration.
• Compelling financial profile: Approximately $50 billion in combined backlog (3.7x combined revenue), ~$13 billion of combined revenue, and more than $1.1 billion projected 2024 combined adjusted EBITDA^[2], including estimated net cost synergies, representing approximately 8% projected adjusted EBITDA margin for the combined company. Significant growth opportunities exist through both on-contract growth and new contract wins across the combined portfolio.
• Secure balance sheet with strong FCF and attractive deleveraging pathway: Leverage ratio of the combined company is targeted to be approximately 3.8x at close, inclusive of expected run-rate net cost synergies, with plan to reach less than 3x leverage ratio within 24 months of close. Capital expenditures for the combined company approximate 0.3% of revenue.

Advisors

J.P. Morgan Securities LLC and Morgan Stanley & Co. LLC are serving as financial advisors to Amentum and Cravath, Swaine & Moore LLP is serving as legal advisor. Centerview Partners LLC and Perella Weinberg Partners LP are serving as financial advisors to Jacobs and Wachtell Lipton, Rosen & Katz is serving as legal advisor. Goldman Sachs provided financial advice to the Jacobs Board of Directors.

About Amentum

Amentum is a leader in global engineering, project management and solutions integration, trusted to modernize the most critical missions anywhere in the world. Driven to create a safer, smarter, cleaner world, we innovate as a team of inventive doers passionate about making a difference. Underpinned by a strong culture of ethics, safety and inclusivity, Amentum is fiercely committed to operational excellence and successful execution. Visit us at amentum.com to learn how we solve what’s next.

###

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[1]           Estimated combined revenue of Amentum in FY2023 and Jacobs’ separated business in FY2023 should not be considered indicative of future performance.

[2]           Reconciliation of projected 2024 adjusted EBITDA for the combined company to the most directly comparable GAAP measure is not available without unreasonable efforts because the Company cannot predict with sufficient certainty all the components required to provide such reconciliation.

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“We’re eager to showcase the results of the work that our Amentum team has done against our ESG priorities,” said CEO John Heller. “This is just the beginning. We have lofty goals and extremely passionate employees that are inspiring us for success. Our vision to create a smarter, safer, cleaner world reflects our high-performing culture and serves as an invitation to our Amentum family to continue to take part in shaping our future.”

The FY2023 Amentum Corporate Responsibility Report is the first annual report around our ESG initiatives. To access the report, please click here: https://www.amentum.com/wp-content/uploads/ESG-Corporate-Responsibility-Report-FINAL.pdf.

About Amentum

Amentum is a leader in global engineering, project management and solutions integration, trusted to modernize the most critical missions anywhere in the world. Driven to create a safer, smarter, cleaner world, we innovate as a team of inventive doers passionate about making a difference. Underpinned by a strong culture of ethics, safety and inclusivity, Amentum is fiercely committed to operational excellence and successful execution. Headquartered in Chantilly, Virginia, we have more than 44,000 employees in 79 countries in all 7 continents. Visit us at amentum.com to learn how we solve what’s next.

###

Contacts: 
For Amentum:

Chanel Mann
+1 (682) 788-5685

chanel.mann@amentum.com
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“Our extensive training expertise navigating challenging environments in protection of national security makes us the premier partner to the DoS on the Trans-Sahara Counterterrorism Partnership for the Forces Armées Béninoises,” said Dr. Karl Spinnenweber, President of Amentum’s Critical Missions Group. “We also look forward to completing complex design and engineering projects around austere Somalian environments as a top partner to the DoS in Africa.”

On one task order, Amentum will deliver a complex training program to improve the capabilities of the Beninese Armed Forces in safeguarding national security through mobilization training, non-commissioned officer development, company-grade officer leadership management, train-the-trainer programs, and basic military training and field-base exercises.

Amentum will also complete a design and build project for permanent and sustainable bases for the Somalia National Army Danab in six priority locations. Amentum experts will utilize extensive knowledge of ground and environmental conditions through the design process to mitigate construction and build risks.

“Our success at managing challenging environments to complete complex projects critical to the preservation of national security helps us strengthen Africa’s protection capabilities,” said John Bozarth, Senior Vice President of Operations.

About Amentum

Amentum is a leader in global engineering, project management and solutions integration, trusted to modernize the most critical missions anywhere in the world. Driven to create a safer, smarter, cleaner world, we innovate as a team of inventive doers passionate about making a difference. Underpinned by a strong culture of ethics, safety and inclusivity, Amentum is fiercely committed to operational excellence and successful execution. Headquartered in Chantilly, Virginia, we have more than 44,000 employees in 85 countries in all 7 continents. Visit us at amentum.com to learn how we solve what’s next.

###

Contacts: 
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Chanel Mann
+1 (682) 788-5685

chanel.mann@amentum.com
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The post Amentum Awarded $165 Million DoS Contracts to Improve National Security in Africa appeared first on Amentum.

“As a premier technology partner for the DoD, we can provide USINDOPACOM new innovations to protect our national security.” said Jill Bruning, President of Amentum’s Engineering, Science, and Technology Group.

Under this contract, Amentum will advance organizational agility with innovative solutions in an extremely collaborative and dynamic national security environment. Amentum will provide technological innovation to USINDOPACOM through its understanding of existing and emerging capabilities in the fields of Command and Control (C2), communications, electronic warfare, and operational energy. Amentum will also play an important role in defensive cyber analysis, national and adversary vulnerability assessments, strategic adversary resistance. and Intelligence, Surveillance, and Reconnaissance (ISR), including Special Operations Forces (SOF) and other technical areas for the greater Joint Force associated with ground, surface, space, cyber, maritime, and air-based domains and capabilities.

ABOUT AMENTUM

Amentum is a leader in global engineering, project management and solutions integration, trusted to modernize the most critical missions anywhere in the world. Driven to create a safer, smarter, cleaner world, we innovate as a team of inventive doers passionate about making a difference. Underpinned by a strong culture of ethics, safety and inclusivity, Amentum is fiercely committed to operational excellence and successful execution. Headquartered in Chantilly, Virginia, we have more than 44,000 employees in 85 countries in all 7 continents. Visit us at amentum.com to learn how we solve what’s next.

Approved for Public Release, Distribution Unlimited. Any opinions, findings and conclusions or recommendations expressed in this material are those of the author(s) and do not necessarily reflect the views of the DoD.

###

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Keith Strubhar
+1 (571) 733-7508

keith.strubhar@amentum.com 
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“Amentum has a storied history of support to military and veterans – as employees, as customers, and as business partners,” said Billy Harlin, Vice President of Global Supply Chain Management. “We stand by our continued partnership commitment to the service-disabled and veteran owned small business communities.”

The achievement of Amentum’s FY22 SD/VOSBs subcontracting goals were the contributing factor in earning the 2022 NVSBC Champions Award.

“We deliver on our commitments at Amentum,” said Rochelle Lowe, Sr. Manager, Small Business Liaison Office. “The important addition of SD/VOSBs in the compliment performance of our programs plays a critical role in our economy, our success, and the communities where we serve.”

Amentum will be recognized at the 2^nd Annual Veteran Small Business Advocate Awards Gala on November 14, 2023.

About National Veterans Small Business Coalition

The NVSBC is a non-profit organization whose mission is to provide nationally recognized training, networking, and advocacy for veteran small business entrepreneurs in the federal market to ensure they are procurement ready and have enhanced access to opportunities to start, operate, sustain, and grow competitive and strong businesses serving federal agencies and other government contractors. The more than 47,000 businesses that we represent greatly appreciate your support!

About Amentum

Amentum is a leader in global engineering, project management, and solutions integration, trusted to modernize the most critical missions anywhere in the world. Driven to create a safer, smarter, cleaner world, we innovate as a team of inventive doers passionate about making a difference. Underpinned by a strong culture of ethics, safety, and inclusivity, Amentum is fiercely committed to operational excellence and successful execution. Headquartered in Chantilly, Virginia, we have more than 44,000 employees in 85 countries in all 7 continents. Visit us at amentum.com to learn how we solve what’s next.

###

Contacts: 
For Amentum:

Chanel Mann
+1 (682) 788-5685

chanel.mann@amentum.com
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The post Amentum Receives Champions Award for Veteran Small Business Support appeared first on Amentum.

“Dave brings unparalleled leadership and deep mission insight in the national security space,” said Sean Mullen, Executive Vice President, Business Development. “With a proven record of balancing risks and opportunities, building partnerships, and integration capabilities, he will play a strategic role in driving solutions development and investments toward solving our customers’ most critical challenges.”

Prior to joining Amentum, Dave spent more than thirty years at the Central Intelligence Agency, primarily living and working across the Middle East. He served most recently as the Deputy Director of CIA for Operations, overseeing the operational work force and global clandestine intelligence collection activity. He served previously as the Assistant Director of CIA for the Near East, managing all CIA activity – intelligence collection and analysis — related to the Middle East and North Africa. Dave also served in other key leadership roles, both overseas and in the U.S. 

Dave is a graduate of William and Mary, with a Bachelor of Science in Psychology, and he holds a Master’s degree from Chapman College in Organizational Development. He has been highly decorated and recognized for his service, as a recipient of the Intelligence Star and the Distinguished Intelligence Medal, among others. He is a former U.S. Army enlisted soldier, with service in Iraq during the 1991 Gulf War.

About Amentum

Amentum is a leader in global engineering, project management and solutions integration, trusted to modernize the most critical missions anywhere in the world. Driven to create a safer, smarter, cleaner world, we innovate as a team of inventive doers passionate about making a difference. Underpinned by a strong culture of ethics, safety and inclusivity, Amentum is fiercely committed to operational excellence and successful execution. Headquartered in Chantilly, Virginia, we have more than 44,000 employees in 85 countries in all 7 continents. Visit us at amentum.com to learn how we solve what’s next.

###

Contacts: 
For Amentum:

Chanel Mann
+1 (682) 788-5685

chanel.mann@amentum.com
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“As a global leader in environmental solutions, our experience in nuclear remediation is extensive,” said Mark Whitney, President of Amentum’s National Security Group. “Amentum will provide the Army Corps of Engineers with advanced engineering capabilities and solutions that have been successful at some of the most challenging environmental cleanup projects in the world.”

Under this new contract, the work will be performed at Fort Greely, Alaska and will include planning, permitting, and engineering, site preparation, demolition and disposal of facilities and components from the defueled nuclear reactor, related wells and utility corridors, and other ancillary facilities. The contract also includes remediation of contaminated soils, a final status survey, and site restoration.

The contract was awarded to the joint venture APTIM-Amentum Alaska Decommissioning, LLC (A3D). Other members of A3D’s team include Heritage – M2C1 Joint Venture, a HUBZone small business location in Delta Junction, AK; Lynden Logistics; Brice Environmental; Oak Ridge Technologies; ReNuke Services; AECOM Technical Services; and Delta Junction Medical.

“Our recent experience performing reactor decommissioning at Fort Belvoir and major U.S. Department of Energy sites will aid in the completion of the work safely and effectively at Fort Greely,” said Jim Blankenhorn, Amentum Senior Vice President of Environment & Security. “The expertise gained over decades of similar projects builds the Army Corps of Engineers’ confidence in our team to address the environmental challenge at Fort Greely.”

The SM-1A reactor achieved criticality in 1962 and was shut down in March of 1972, followed by the removal and disposition of the spent nuclear fuel in 1973. The primary mission of the single-loop, 20.2 megawatt-thermal pressurized water reactor was to establish a cold-weather nuclear power plant to support power to Fort Greely, with a secondary mission to study the economics of operating a nuclear electric power plant as compared to operating a conventional oil-fired system in a remote location.

An on-site kickoff meeting at Fort Greely will in late October 2023, paving the way for our preparatory work at the site.  The team is targeting a full mobilization to the site by mid-2024. Project completion is currently anticipated by 2029.  Project information can also be found on the USACE website www.nab.usace.army.mil/SM-1A/.

About Amentum

Amentum is a leader in global engineering, project management and solutions integration, trusted to modernize the most critical missions anywhere in the world. Driven to create a safer, smarter, cleaner world, we innovate as a team of inventive doers passionate about making a difference. Underpinned by a strong culture of ethics, safety and inclusivity, Amentum is fiercely committed to operational excellence and successful execution. Headquartered in Chantilly, Virginia, we have more than 44,000 employees in 85 countries in all 7 continents. Visit us at amentum.com to learn how we solve what’s next.

About APTIM

APTIM is a leading professional solutions firm with headquarters in Baton Rouge, Louisiana. We specialize in environmental services, resilience, sustainability, and energy solutions, as well as technical and data solutions, program management, and critical infrastructure. Our dedicated teammates apply their experience and expertise to provide integrated services and solutions for government agencies, commercial and industrial clients, and energy customers. APTIM commits to accelerating the transition toward a clean and efficient energy economy, building a sustainable future for our communities and natural world, and creating a more inclusive and equitable environment that celebrates the diversity of our people. Learn more at APTIM.com and connect with us on Facebook, Instagram, LinkedIn, and Twitter.

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Keith Wood
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“As a premier engineering partner for the U.S. Army, we can enable new technology capabilities to protect our national security.” said Jill Bruning, President of Amentum’s Engineering, Science, and Technology Group.

Under this contract, Amentum will provide technology and engineering solutions for prototyping projects executed by The Prototyping, Integration and Testing Division (PI&TD). These engineering modernization and integration projects directly support emerging technical needs of the warfighter. PI&TD provides support to several military program management offices including DEVCOM, Warfighter Information Network Tactical (WIN-T), Mission Command, Radars, DCGS-A, Special Operations Command, and Marine Corp (USMC).

Additionally, Amentum will design, develop, and fabricate C5ISR systems, sub-systems, components, installation kits, and systems-of-systems for integration into ground-based, vehicular, shelter, airborne, watercraft, soldier, and dismounted platforms, both tactical and non-tactical, and into fixed and re-locatable sites.   

ABOUT AMENTUM

Amentum is a leader in global engineering, project management and solutions integration, trusted to modernize the most critical missions anywhere in the world. Driven to create a safer, smarter, cleaner world, we innovate as a team of inventive doers passionate about making a difference. Underpinned by a strong culture of ethics, safety and inclusivity, Amentum is fiercely committed to operational excellence and successful execution. Headquartered in Chantilly, Virginia, we have more than 44,000 employees in 85 countries in all 7 continents. Visit us at amentum.com to learn how we solve what’s next.

Approved for Public Release, Distribution Unlimited. Any opinions, findings and conclusions or recommendations expressed in this material are those of the author(s) and do not necessarily reflect the views of the DoD.

###

Contacts: 
For Amentum:

Keith Strubhar
+1 (571) 733-7508

keith.strubhar@amentum.com 
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“Amentum’s expertise managing important national security engagements with partner nations will be strengthened by our utilization of modern construction delivery, smart logistics networks, sustainable training approaches and safe laboratory operations,” said Mark Whitney, President, Amentum’s National Security Group. “Our threat reduction experience will enhance the ability of BTRP’s partners to prevent, detect and prepare for any biological threats that may threaten our country, allies, and the African community.”

This award expands Amentum’s international BTRP work. Under this contract, Amentum will deliver the expertise needed to facilitate DTRA’s mission to secure and consolidate pathogens; enhance biosafety and biosecurity standards; and sustain and maintain countries’ abilities to detect, diagnose, surveil, and report emerging and re-emerging diseases of international security concern.

The award has a two-year base period of performance with several options which can extend the period of performance to five years total. Work will be performed within and outside the continental United States with specific focus on BTRP partners in Kenya, Gabon, Guinea and Cameroon. BTRP’s previous engagements with these nations have supported safe laboratory operations, pathogen security and pandemic preparedness and response. 

About Amentum

Amentum is a leader in global engineering, project management and solutions integration, trusted to modernize the most critical missions anywhere in the world. Driven to create a safer, smarter, cleaner world, we innovate as a team of inventive doers passionate about making a difference. Underpinned by a strong culture of ethics, safety and inclusivity, Amentum is fiercely committed to operational excellence and successful execution. Headquartered in Chantilly, Virginia, we have more than 44,000 employees in 85 countries in all 7 continents. Visit us at amentum.com to learn how we solve what’s next.

###

Contacts: 
For Amentum:

Keith Wood
+1 (803) 507-2332

keith.wood@amentum.com
Follow @Amentum_corp on Twitter

Follow Amentum on LinkedIn

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