Trump seeking to remove China's industrial supply chain

Supply Chain Digital | May 04, 2020

According to officials familiar with US planning, the initiative has been launched in order to punish Beijing for its handling of the coronavirus outbreak. Trump has long promised to bring manufacturing back from overseas. However, with economic ruin and the increasingly high US COVID-19 death toll, it has led to a drive to transition US production and supply chain dependency away from China, even if it goes to other friendlier nations instead, according to current and former senior US administration officials.

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Local government is the third level of government in Australia and has a significant impact on the lives of all Victorians. It was established by an Act of state parliament, which specifies council powers, duties and functions...

Spotlight

Local government is the third level of government in Australia and has a significant impact on the lives of all Victorians. It was established by an Act of state parliament, which specifies council powers, duties and functions...

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GOVERNMENT BUSINESS,CYBERSECURITY

QinetiQ US to Acquire Avantus Federal

Avantus Federal | August 08, 2022

QinetiQ US, a wholly owned subsidiary of QinetiQ Group plc and a leading defense company providing mission-critical solutions in robotics and autonomous systems, sensing, protection systems, and next-generation autonomous vehicles announced today that it has entered into a definitive agreement to acquire Avantus Federal (Avantus) from NewSpring Holdings for an enterprise value of $590 million. The combination of QinetiQ US and Avantus will create a powerful growth platform to address the complex and large scale intelligence and defense challenges government customers face today. The closing of the acquisition is subject to customary conditions, including regulatory approvals, and is expected to close by end of calendar year 2022. Avantus is a leading provider of mission-focused cyber, data analytics, and software development solutions to the Department of Defense, Intelligence Community, Department of Homeland Security, and other law enforcement and civilian agencies. From supporting sensitive national security customers on some of the most complex data engineering, cyber, and analytics problems in the world, to providing key mission operational, intelligence, and cyber support to special operators, and helping accelerate new technologies into the warfighter’s hands, Avantus has a strong track record of achieving speed-to-mission-impact. “We have been thoroughly impressed by the quality of the Avantus employee base, leadership team, customer impact, and the sustained organic growth. We see great alignment in our culture and strategy, Avantus’ highly integrated business, core capabilities, and customer relationships complement QinetiQ’s distinctive offerings, allowing us to grow the services and solutions that benefit our combined global customers as their needs evolve at an accelerating pace.” -Steve Wadey, Group Chief Executive Officer for QinetiQ Group plc. Both Avantus and QinetiQ are best-in-class providers of technology services and support, cyber and intelligence solutions, and information services. With high-trust, established customer relationships within the most important and enduring mission areas, this acquisition enhances the go-to-market strategy for both companies. “We believe that the combination of QinetiQ US and Avantus will create a unique business in the US and globally with a powerful performance culture and scaled technical differentiation, This acquisition is a transformational platform that delivers on our growth strategy of building a disruptive mid-tier defense and intelligence company.” -Shawn N. Purvis, President and Chief Executive Officer of QinetiQ US. Our market is evolving rapidly and demanding more of our customers every day, and joining forces with QinetiQ US will deliver solutions at scale to meet the moment, said Andy Maner, Chairman and Chief Executive Officer of Avantus. With a shared culture of absolute customer focus and employee investment and a structure built for agility and speed, this opportunity to combine with QinetiQ US strengthens our defense presence and combined position across our intelligence and homeland, law enforcement, and civilian portfolio, and we are poised to continue our joint mission as an innovator unique to our market. The combination with Avantus will materially enhance QinetiQ US’s position in the largest defence and intelligence market in the world by creating a large full solutions US Defense contractor business well-positioned within high growth and durable market areas. Avantus brings a strong order backlog, and the acquisition creates a compelling platform for new scaling organic and inorganic growth for QinetiQ in the US. Guggenheim Securities, LLC served as exclusive financial adviser to Avantus and NewSpring Holdings, and Baker Tilly provided financial due diligence expertise. Blank Rome LLP and Kirkland & Ellis LLP served as counsel to Avantus. Citizens and Gleacher Shacklock served as joint lead financial advisers and Baker McKenzie served as counsel to QinetiQ. About QinetiQ US: QinetiQ US is a leading defense and security company in the United States providing mission-led innovation at pace. QinetiQ US is a provider of technologically advanced services and products to the US Department of Defense and national security agencies, positioned to deliver key aspects of the modernization required to address our customers’ pivot to counter near peer adversaries. QinetiQ’s engineering services span the DoD and Intel community providing subject matter expertise in the areas of communications, sensor integration and research and development, survivability and unmanned ground combat systems. QinetiQ US operates as the U.S. arm of QinetiQ Group plc (QQ.LSE), a global integrated defense and security company focused on innovation for defense, security and civil customers around the world. QinetiQ US employees are based predominantly in Virginia and Massachusetts and operate under a Special Security Agreement (SSA) with the U.S. Defense Counterintelligence & Security Agency (DCSA). QinetiQ US is creating new ways of protecting what matters most; testing technologies, systems, and processes to make sure they work as expected; and enabling customers to deploy new and enhanced-existing capabilities with the assurance they will deliver the outcomes required. About Avantus Federal: Avantus Federal is a mission-focused data, cyber, and space services and solutions company. As a mid-market powerhouse with an intentional blend of elite talent, infrastructure, and speed to impact, Avantus and its approximately 1,150 highly-cleared professionals lead with technical and domain expertise for its Defense, Intelligence, Homeland Security, and Federal Civilian customers. Helping to solve some of the toughest national security problems and government missions, Avantus’ offerings enable services at scale, including cyber technologies and operations, data and software solutions, digital engineering and integration, intelligence analysis and operations, space domain capabilities, transformation and advisory services, and more. About NewSpring Holdings: NewSpring Holdings, NewSpring's dedicated holding company with a strategy focused on control buyouts and platform builds, brings a wealth of knowledge, experience, and resources to take profitable, growing companies to the next level through acquisitions and proven organic methodologies. Founded in 1999, NewSpring partners with the innovators, makers, and operators of high-performing companies in dynamic industries to catalyze new growth and seize compelling opportunities. The Firm manages over $2.5 billion across five distinct strategies covering the spectrum from growth equity and control buyouts to mezzanine debt. Partnering with management teams to help develop their businesses into market leaders, NewSpring identifies opportunities and builds relationships using its network of industry leaders and influencers across a wide array of operational areas and industries.

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EMERGING TECHNOLOGY,CYBERSECURITY

Radiance Technologies Switches to Unanet for GovCon ERP and CRM

Unanet | September 30, 2022

Unanet, the leading provider of project-based ERP and CRM for government contractors (GovCon), today announced that Radiance Technologies, a Huntsville, Ala.-based firm that develops solutions for defense, intelligence and civilian clients like the U.S. Army and U.S. Airforce, is replacing its legacy ERP system with Unanet GovCon ERP and CRM to provide a robust end-to-end solution that will help streamline processes and reduce manual errors in their business. Radiance has already started an implementation plan that Unanet tailored to fit their needs. After an annual review of all its business and technology tools, Radiance, an employee-owned company with approximately 1,000 employees, determined that its legacy ERP provider was actually making their business processes more cumbersome and less efficient for their team. "Our previous system included multiple software tools, but none of them were fully integrated and automated. As a result, we were spending a lot of time taking data out of one system through downloads, and entering or importing it into another system, Radiance's teams also experienced difficulties with functionality and technical issues such as upgrades that were hastily rolled out with errors in them.We fully expect Unanet to make our processes more efficient through integration and automation, reduce the amount of time required to enter and review data and create smoother internal processes and workflows, For example, getting consultants and subcontractors to input their purchase order/invoice data into an efficient system will ensure all costs incurred each month are captured in our invoices. This will enhance our speed and visibility to project actuals -- creating one efficient solution for our subcontractors/consultants and our accounting team." -Paige Nix, chief financial officer at Radiance. After a search and review process for an enterprise-wide system, Radiance chose Unanet GovCon ERP and CRM for its ability to fully integrate and automate multiple tools with low implementation and maintenance time. In addition, Radiance received multiple referrals about Unanet from companies who shared how Unanet's customer service team listened and turned feedback into actionable results. According to a recent annual survey of more than 1,100 GovCon customers, Unanet users are seeing a significant decrease in day sales outstanding (DSO) simply because of the reduction in errors that Unanet's ERP solution provides. More than 14% of users reported a DSO of 15 days or less. About Unanet: Unanet is a leading provider of project-based ERP and CRM solutions purpose-built for Government Contractors, architecture, engineering, construction, and professional services. More than 3,700 project-driven organizations depend on Unanet to turn their information into actionable insights, drive better decision-making, and accelerate business growth. All backed by a people-centered team invested in the success of your projects, people, and financials. About Radiance Technologies: Radiance Technologies is an employee-owned small business prime contractor founded in 1999. Radiance has approximately 1,000 employee-owners across the United States serving the Department of Defense, national intelligence community and other government agencies. From concepts to capabilities, Radiance leads the way in developing customer-focused solutions in the areas of cyber security, systems engineering, prototyping and integration as well as operational and strategic intelligence including scientific and technical intelligence.

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GOVERNMENT BUSINESS

Parker Confirms UK Government’s Approval of the Meggitt Acquisition

Parker | July 20, 2022

Parker Hannifin Corporation (NYSE:PH) today welcomes the announcement from the UK’s Secretary of State for Business, Energy and Industrial Strategy that, following public consultation, he accepts the competition and national security undertakings provided by Parker in relation to the Meggitt acquisition and the transaction is therefore cleared to proceed by the UK Government. As previously announced on August 2, 2021, the boards of Meggitt and Parker reached agreement on the terms and conditions of a recommended all cash acquisition by Parker of the entire issued, and to be issued, ordinary share capital of Meggitt PLC (the “Acquisition”). Parker also confirms that it has signed legally binding economic commitments with the UK Government. These commitments include maintaining the following, for five years after the closing of the Acquisition (“Undertaking Period”): Meggitt’s headquarters and its aerospace and advanced materials center of excellence in Ansty Park, in Coventry, UK; Meggitt’s key areas of existing operational capability in the UK; R&D (including product engineering) and manufacturing labor headcount in the UK; Meggitt’s sustainability targets of reducing net carbon emissions by 50 per cent, by 2025; and achieving net zero greenhouse gas emissions by 2050; and Contractual obligations regarding supply of goods and services to HM Government. Finally, as innovation is a key driving factor of success for both Meggitt and Parker, Parker has agreed to increase Meggitt’s R&D expenditure in the UK by at least 40 per cent, by the end of the Undertaking Period, and its UK apprenticeship opportunities by 20 per cent. “We are pleased to have reached this important clearance milestone from the UK Secretary of State, We have also agreed to substantial legally binding commitments, which underscore our deep commitment to the UK. As we move closer to the completion of the acquisition and the combination of these two strong businesses, we look forward to welcoming the Meggitt team to Parker.” -Tom Williams, Chairman and Chief Executive Officer, Parker. The Acquisition remains subject to satisfaction or, where applicable, waiver of the conditions set out in the scheme circular published on August 16, 2021, including regulatory clearance and the sanction of the scheme of arrangement by the High Court of Justice in England and Wales pursuant to the UK Companies Act 2006. Parker continues to expect the Acquisition to close in Q3 2022. About Parker- Parker Hannifin is a Fortune 250 global leader in motion and control technologies. For more than a century the company has been enabling engineering breakthroughs that lead to a better tomorrow. Parker has increased its annual dividend per share paid to shareholders for 66 consecutive fiscal years, among the top five longest-running dividend-increase records in the S&P 500 index.

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