OTTAWA, Ontario--(EON: Enhanced Online News)--Allen-Vanguard today confirmed the sale of its Explosive Ordnance Disposal (EOD) unit, consisting of the MedEngTM bomb suit, bomb disposal robots, and ancillary tools, and its Crew Survivability business, consisting of blast attenuation and thermal management products. Purchase terms for the all-cash transaction were not disclosed.
The successful transaction announced today follows from a strategic review of Allen-Vanguard’s portfolio of products and services, which determined that its mature business lines would be attractive to a buyer. The company’s mission remains focused on providing high value-add solutions in support of global counter-terrorism through its strategic Electronic Systems and Counter-Threat Solutions business units, both of which will continue to operate under the Allen-Vanguard name. As a result of the transaction, Allen-Vanguard retired 100% of its outstanding 3rd party debt, and is well capitalized to pursue the growth potential of its remaining businesses.
Allen-Vanguard’s Electronic Systems business is a world leader in sophisticated jamming and electronic sensing solutions that protect the soldier, law enforcement personnel and dignitaries including heads of state. The Company’s Counter-Threat Solutions business provides specialized intelligence services, tools and training in the fight against extremist network operations. These remain areas of high-growth potential in the evolving defense and security landscape globally.
Business units under the Allen-Vanguard name are portfolio units of Versa Capital Management, LLC, a private equity firm based in Philadelphia, PA, with over $1.3 billion of assets under management.
Allen-Vanguard is a trusted global leader in providing solutions for defeating terrorist and extremist threats. With an unrivalled expertise in counter-threat solutions, systems, and technologies, we deliver battle-proven equipment and services for defeating IEDs and other terrorist incidents at the technical, operational, and national policy levels. Find out more at www.allenvanguard.com and follow us at www.twitter.com/AllenVanguard.