Vectrus and Vertex Company have completed their merger to form Global Mission Services Company V2X; CEO Chuck Prow quoted


Vector completed its transaction to merge with another defense and aerospace contractor Vertex companytogether forming the new company V2X Inc.

The business combination aims to create a business offering a wide range national security and technology modernization services to defense, civilian and international customers, the new organization announced on Tuesday.

“We have created a company with the scale and ability to compete for large integrated business opportunities by providing lifecycle support in the converged environment,” commented chuck bowthe former CEO of Vectrus and eight times Wash100 Price winner who is now CEO of V2X.

The converged environment mentioned by Prow is an element carried over from Vectrus which has been presented earlier this year. The concept aims to offer a unified physical and digital approach to meet the technological and operational needs of the United States Department of Defense. The V2X team will perform services in the areas of operations and logistics, aerospace, training and technology.

V2X’s 11-member board is comprised of six Vectrus appointees and five Vertex assigned executives. Melvin Parker, Eric Pillmore, Chuck Prow, Stephen Waechter, Phillip Widman and President Mary Howell are the incumbents of Vectrus, while Vertex elected Ed Boyington, Dino Cusumano, Lee Evangelakos, Joel Rotroff and Neil Snyder.

V2X will now inherit responsibilities such as the US Army’s $250 million mission order awarded to Vectrus for Logistics and support in February. Work under the contract will potentially extend through December 2026.

Following the completion of the merger, former Vertex shareholders now retain approximately 62% of V2X and former Vectrus investors hold approximately 38% of the common shares of the new company. The closing of the transaction transferred 18.6 million common shares of Vectrus to Vertex shareholders. Shares of V2X will trade on the New York Stock Exchange under the symbol “VVX,” beginning July 8.

Vectrus was financially advised by Goldman Sachs & Co., with additional advice from Ernst & Young and Wolf Den Associates, while Vertex received a financial valuation from RBC Capital Markets, LLC and Evercore, with additional advice from Fairmont Consulting Group .

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