American Industrial Partners portfolio company Vertex to merge with Vectrus
Clients American Industrial Partners Capital Fund VI LP
Jones Day is advising Vertex Aerospace, a portfolio company of American Industrial Partners, in its stock-for-stock merger with Vectrus, Inc. (NYSE: VEC), at an implied value for Vertex of approximately $2.1 billion. The merger, which was unanimously approved by the Vectrus Board of Directors, is expected to close in the third quarter of 2022, subject to satisfaction of customary closing conditions, including receipt of regulatory and Vectrus shareholder approvals. The combined company will offer significantly expanded technology and service capabilities, delivering a comprehensive suite of integrated solutions and critical service offerings to support national security readiness and modernization initiatives around the world. As a result of the merger, American Industrial Partners will own approximately 58% of the public shares of Vectrus.