Ducommun Incorporated (NYSE: DCO) has entered into a definitive agreement with General Atomics to sell the company´s Miltec Corporation subsidiary for USD14.6 million in cash, subject to post-closing adjustments.
Miltec provides engineering, technical and program management services principally to the US Department of Defense and US intelligence agencies for advanced weapons systems and military defense systems. The business had sales of approximately USD28.2 million in 2015.
The completion of the transaction is subject to customary closing conditions. KippsDeSanto & Co. acted as financial advisor to Ducommun.
Founded in 1849, Ducommun Incorporated provides engineering and manufacturing services to the aerospace, defense, and other industries through a wide spectrum of electronic and structural applications. The company is an established supplier of critical components and assemblies for commercial aircraft and military and space vehicles as well as for the energy market, medical field, and industrial automation. It operates through two primary business units — Ducommun AeroStructures (DAS) and Ducommun LaBarge Technologies (DLT).