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byline: Richard Foster

SAIC to acquire Arlington-based tech contractor

Reston-based Fortune 500 government contractor Science Applications International Corp. (SAIC) has entered into a definitive agreement to acquire Arlington-based Halfaker and Associates LLC, a technology solutions provider to the federal government’s health, intelligence, defense and security sectors.

Financial terms of the deal were not disclosed.

“The addition of Halfaker’s proven team and capabilities reinforces SAIC’s commitment to supporting the government health care mission, including our strong support for the health and well-being of veterans,” SAIC CEO Nazzic Keene said in a statement. “This acquisition enhances our ability to support our customers’ digital transformation needs and continue to be the innovative technology solutions provider our customers expect.”

Halfaker’s clients include the Department of Defense, the Department of Veterans Affairs, and the Centers for Medicare and Medicaid Services.

“I am excited to embark on this next chapter of Halfaker’s mission to continue to serve,” Halfaker President and CEO Dawn Halfaker said. “The alignment of SAIC’s culture and values with this important mission has been critical in making the decision to join forces and successfully bolster the services we provide our customers with even greater digital transformation capacity and scalability. This acquisition enables our delivery teams to maintain our customer-centric focus while exponentially increasing our ability to provide the technical depth and top technical talent needed to meet the government’s most pressing challenges.”

 

Booz Allen Hamilton wins $674M DOD contract

McLean-based Fortune 500 global management consulting company Booz Allen Hamilton Inc. was awarded a five-year, $674 million contract from the General Services Administration to maintain and support the growth of the Department of Defense’s Advana data analytics platform.

“In response to increasingly advanced threats from global adversaries, the Department of Defense has placed a clear priority on enabling ready access to data and analytics across its enterprise so its teams can make faster, smarter decisions that benefit their business, operations, and mission,” said Leslie DiFonzo, an executive vice president at Booz Allen, in a statement. “We are proud to take part in helping the Department of Defense continue the meteoric growth of the Advana platform by providing full lifecycle IT support, data engineering and analytics capabilities.”

Under the contract, Booz Allen will provide services to DOD utilizing data engineering, artificial intelligence and machine learning operations, data visualization and cloud computing.

Led by the Office of the Under Secretary of Defense (Comptroller), Advana integrates hundreds of DOD business systems, ranging from financial and medical data to personnel and logistics information, into one platform accessed by more than 20,000 users across 42 DOD organizations.

Global manufacturer to move U.S. HQ to Danville/Pittsylvania area

Walraven Inc. will invest $7.15 million to relocate its U.S. headquarters and manufacturing operation from Cadillac, Michigan, to the Danville-Pittsylvania County area, creating 46 jobs, Virginia Gov. Ralph Northam announced Thursday.

A manufacturer of installation systems such as pipe hangers and in-wall solutions for plumbing and mechanical applications, Walraven will move into the Cane Creek Shell Building at Cane Creek Centre, the joint industrial park for Danville and Pittsylvania County.

Virginia successfully competed with Michigan, North Carolina, South Carolina, and Tennessee for the project.

Headquartered in the Netherlands, Walraven manufactures products in the Netherlands, United Kingdom, Czech Republic, Spain, Turkey, China, India, Dubai, Canada and the United States.

“This announcement further demonstrates the strength of Southern Virginia’s economic assets and its commitment to infrastructure, education and building the workforce of the future. We thank Walraven for choosing the commonwealth and look forward to a successful partnership,” said Northam, who met with the company’s CEO in Germany during a state marketing mission to Europe in May.

“Walraven was impressed with the positive business climate and the engagement of the economic development team in Danville and Pittsylvania County,” Walraven CEO Pelle van Walraven said in a statement. “We selected Danville because of its availability of property, competitive proposals, engaging community, commitment and investment in technical education, and access to markets. Walraven is looking forward to implementing its global strategy in the U.S. and building a ‘multinational with a heart’ in Virginia.”

The Virginia Economic Development Partnership worked with Danville, Pittsylvania County, the Danville-Pittsylvania Regional Industrial Facility Authority and the Southern Virginia Regional Alliance to secure the project for Virginia. Northam approved a $100,000 grant from the Commonwealth’s Opportunity Fund to assist with the project. The Virginia Tobacco Region Revitalization Commission also contributed $48,000 from the Tobacco Region Opportunity Fund.

Support for Walraven’s job creation will be provided through the Virginia Talent Accelerator Program, a workforce training and recruitment initiative created by VEDP in collaboration with the Virginia Community College System and other higher education partners. Services are provided at no cost to qualified new and expanding companies as an incentive for job creation.

39 Virginia companies make 2021 Fortune 1000 list

Thirty-nine Virginia-based companies made Fortune magazine’s 67th annual Fortune 1000 list, which was released Wednesday. The list ranks the 1,000 largest United States corporations by total revenue.

Twenty-two companies made the elite Fortune 500 list, including Fortune 500 newcomer CACI International Inc., which was ranked at No. 473 this year. It was ranked No. 549 on the 2020 list.

Notably, McLean-based global hotelier Hilton Worldwide Holdings Inc., which saw major revenue losses during the pandemic, fell off the Fortune 500 list this year, plummeting from No. 338 on the 2020 Fortune 500 to No. 596 on the 2021 Fortune 1000. Hilton reported $720 million in losses for 2020 and its per-room revenue dropped more than 56%.

Companies that moved up significantly on the Fortune 500 this year include Booz Allen Hamilton Holding Corp. (+59); Science Applications International Corp. (+54); Leidos Holdings Inc. (+41); CarMax (+37); NVR Inc. (+34); and Huntington Ingalls Industries (+30).

Richmond-based Arko Corp., a holding company for the nation’s sixth-largest convenience store chain, GPM Investments LLC, debuted on the 2021 Fortune 1000 list at No. 681. With brands including Fas Mart and E-Z Mart, GPM has been growing aggressively and acquired the ExpressStop chain in May.

Ten Fortune 500 companies and 18 Fortune 1000 companies on this year’s list are headquartered in Fairfax County. Seven Fortune 500 companies and 12 Fortune 1000 companies are based in the Richmond area, including Goochland, Hanover and Henrico counties.

These are the Virginia-based companies that made the 2021 Fortune 1000 list, in order of ranking:

47) Federal Home Loan Mortgage Corp.  (“Freddie Mac”), McLean, Virginia

84) General Dynamics Corp., Falls Church 

86) Northrop Grumman Corp., Falls Church

99) Capital One Financial Corp., McLean

111) Dollar Tree Stores Inc., Chesapeake

114) Performance Food Group Co., Goochland County

136) CarMax, Goochland County

138) Altria Group Inc., Henrico County

152) DXC Technology, Tysons

193) Dominion Energy Inc., Richmond

248) Leidos Holdings Inc., Reston

307) Norfolk Southern Corp., Norfolk

311) Markel Corp., Glen Allen

313) AES Corp., Arlington

327) Huntington Ingalls Industries, Newport News

345) Owens & Minor Inc., Mechanicsville

348) Genworth Financial, Henrico County

383) NVR Inc., Reston

391) Booz Allen Hamilton Holding Corp., McLean

412) Science Applications International Corp., Reston

420) Beacon Roofing Supply, Herndon

473) CACI International Inc., Arlington

575) Perspecta, Chantilly

596) Hilton Worldwide Holdings Inc., McLean

622) ASGN Inc., Glen Allen

625) Parsons Corp., Centreville

650) Brink’s Co., Henrico County

677) Maximus Inc., Reston

681) Arko Corp., Richmond

683) Gannett, McLean

756) Tegna Inc., McLean

768) Graham Holdings Co., Arlington

797) Pacific Architects and Engineers (PAE), Falls Church

835) ManTech International Corp., Herndon

896) AvalonBay Communities Inc., Arlington

924) Franchise Group Inc., Virginia Beach

932) BWX Technologies Inc., Lynchburg

954) NewMarket Corp., Richmond

981) Universal Corp., Richmond

Accenture Federal Services to acquire Novetta

Arlington-based Accenture Federal Services (AFS) has entered into an agreement to acquire Novetta, a McLean-based federal contractor specializing in advanced analytics, machine learning, cyber services and cloud engineering.

Terms of the transaction, which is subject to regulatory review, were not disclosed in the announcement released Tuesday by AFS.

With 1,300 employees, Novetta is a subsidiary of The Carlyle Group, the Washington, D.C.-based private equity firm where Virginia GOP gubernatorial candidate Glenn Youngkin was co-CEO until his retirement last year.

“Novetta will bring expanded capabilities, broad client relationships and unique assets that complement our work in the national security sector and add greater scale to our digital capabilities,” Accenture Federal Services CEO John Goodman said in a statement. “By joining forces, we will help clients in all government sectors become leaders in using sophisticated analytics and emerging technologies to solve problems in new ways and transform how they meet their missions.”

“I am extremely excited about joining Accenture Federal Services,” said Novetta President and CEO Tiffanny Gates. “Because of our deep commitment to our staff and customers, it was critical to find the right fit, and AFS is an ideal home. They will provide new growth opportunities for our people, enable expanded capabilities for our customers, and allow us to accelerate our growth trajectory. I couldn’t be more proud of the outcome and I look forward to our future together.”

AFS has 10,500 employees and is a subsidiary of Irish Fortune Global 500 company Accenture. AFS has clients within the national security, federal health, military and civilian services industries. Last year, Accenture reported more than $40 billion in revenue.

Fairfax real estate developer Milt Peterson dies

Real estate developer Milton V. Peterson, founder and chairman of the Fairfax-based Peterson Cos., died early Wednesday at his Fairfax County home at the age of 85.

Peterson was known for developing major real estate projects across the Washington, D.C., metro area, including National Harbor in Prince George’s County, Maryland. “Milt would not accept ‘no’ for an answer if he believed in something. This often enabled the company to take on projects that other developers simply could not, and under Milt’s leadership, Peterson Cos. developed some of the most successful and award-winning mixed-use retail, residential and office developments in Northern Virginia,” a statement from the company read.

A native of Worchester, Massachusetts, Peterson moved to Fairfax more than 60 years ago, where he initially worked for the Yeonas Co., an Arlington-based regional homebuilder. In 1965, Peterson started his own development business and in the 1970s partnered with Tysons real estate developer Til Hazel to form the Hazel/Peterson Cos. The two developed several planned communities, including Burke Centre, Franklin Farm and Centre Ridge.

During the 1990s, Peterson Cos. partnered with Montgomery County, Maryland, and Potomac, Maryland-based real estate firm Foulger-Pratt to revitalize the Downtown Silver Spring commercial district. Peterson also led the development of the Rio Washingtonian Center lakefront shopping mall in Gaithersburg, Maryland.

Peterson’s largest and most ambitious endeavor was National Harbor, which began development in the early 2000s. Drawing more than 28 million annual visitors in pre-COVID times, National Harbor is home to the MGM National Harbor casino resort, the Gaylord National Resort & Convention Center, The Capital Wheel, as well as retail, office and residential developments.

“Milt always said properties are like people – they have personalities – and he knew this waterfront property with over a mile of frontage on the Potomac River just minutes from Washington, D.C., was destined for greatness,” said a statement from the company that recalled that Peterson was so hands-on with the project that he sometimes operated a bulldozer. Peterson modeled National Harbor’s American Way after La Rambla in Barcelona and the Spanish Steps in Rome. He decided to add the Capital Wheel after seeing a similar Ferris wheel at the Place de la Concorde in Paris. He was also instrumental in the successful 2012 casino referendum that brought MGM to Maryland.

A former chair of the Fairfax County Economic Development Authority, Peterson also served 16 years on the Governor’s Economic Advisory Board under four Virginia governors. He also chaired the board of trustees and was a longtime board member for his alma mater, Middlebury College, a liberal arts school in Vermont.

Peterson was named the Fairfax County Chamber of Commerce’s man of the year in 1995 and received a lifetime achievement award in 2006 from the Urban Land Institute for outstanding contribution to the real estate industry.

Noted philanthropists, Peterson and his wife of 64 years, Carolyn, established the Peterson Family Foundation in 1997, donating more than $100 million to charitable causes including Northern Virginia Family Service and Youth for Tomorrow in Prince William County. The couple donated $10 million to Inova Health System and Peterson was instrumental in Inova’s purchase of the former Exxon Mobil corporate campus in Fairfax, which is now the site of the Inova Schar Cancer Institute. In 2008, the Petersons received the Mason Medal, George Mason University’s highest honorary award, for their community service and support of GMU.

Peterson’s survivors include his wife of 64 years, Carolyn, and their children: Lauren, Rick, Jon and Steven. Jon Peterson succeeded his father as Peterson Cos. CEO in 2018 and Rick Peterson took over their father’s non-real estate holdings.

 

 

Aerospace engineering firm announces $2.5M expansion in Fauquier

Missile and rocket propulsion engineering firm SPARC Research is investing $2.5 million to establish a 20,000-square-foot office and manufacturing facility on 4.5 acres near its current location in Warrenton, Virginia Gov. Ralph Northam announced Wednesday.

The expansion, which will increase SPARC’s engineering capabilities and establish a manufacturing facility for rocket motor components, will create 16 jobs. Founded in 2017, SPARC provides aerospace engineering services including mechanical engineering and structural, thermal and aerodynamic rocket and ramjet design, as well as performance analysis and prototype demonstrations.

“We are excited to see a leader in advanced missile and rocket propulsion development like SPARC Research expand and diversify its operations in our commonwealth,” Northam said in a statement. “Among the many assets that make Virginia a great location for the aerospace industry, the skilled talent and strong higher education partnerships in the region will offer the company strong support for its manufacturing expansion in Fauquier County.”

SPARC Research President Patrick Hewitt said, “Virginia represents an ideal location for us to take the next step in our growth plan. The area offers ready access to our military customer base, as well as larger propulsion companies we work with, and the local universities also provide a steady stream of young engineering talent. We appreciate the assistance the state and local offices have provided along the way and we look forward to a continued relationship going forward.”

The Virginia Economic Development Partnership worked with Fauquier County to secure the project for Virginia and will support SPARC Research’s job creation through VEDP’s Virginia Jobs Investment Program (VJIP), which provides consultative services and funding to companies creating new jobs in order to support employee recruitment and training activities.

 

 

Va. Finance Secretary Aubrey Layne to join Sentara

Virginia Secretary of Finance Aubrey Layne will join Norfolk-based Sentara Healthcare as the health system’s senior vice president and chief of staff, effective July 1.

Layne’s responsibilities will include overseeing Sentara’s legislative affairs and corporate social responsibility teams, as well as the Sentara Foundation and the Sentara College of Health Sciences. He will report directly to Sentara President and CEO Howard P. Kern.

“Aubrey is a seasoned leader in both the public and private sectors. His experience as a public servant and his demonstrated business acumen uniquely position him to effectively lead many of the Sentara teams at the forefront of the work we do outside of our hospitals to support our communities,” Kern said in a statement released Wednesday.

Layne was appointed secretary of finance by Virginia Gov. Ralph S. Northam in 2018. Layne also served as secretary of transportation under Gov. Terry McAuliffe.

“Aubrey Layne has been at the center of every important action we have taken since I’ve been governor,” Northam said. “He has guided Virginia’s plans for financing public health, public safety, public education and much more. His stewardship has enabled Virginia to preserve our AAA-bond rating, set aside record-high financial reserves and even post a budget surplus — all during a global pandemic. Aubrey knows how to deliver results, and his experience will be great asset for Sentara.”

Before joining state government, Layne was president of An Achievable Dream Academy in Newport News, a nonprofit, public-private K-12 academy aimed at assisting children from socioeconomically challenged households. He also worked as president and principal broker for Virginia Beach-based Great Atlantic Properties, and was president of  Norfolk-based Hofheimer’s Inc, a now-defunct East Coast shoe retailer. A certified public accountant, Layne began his career at KPMG. He also served on the Commonwealth Transportation Board from 2006 to 2014, representing Hampton Roads.

“I am excited to return home to Hampton Roads and to join one of the nation’s top integrated health care systems,” Layne said. “Health care is changing fast in America, and so are the community’s expectations. I admire Sentara’s commitment to serving people, and I’m eager to help do even more. I also feel a deep personal connection: My daughter was born in what’s now a Sentara hospital and Hampton Roads is my home. I look forward to joining a great company.”

Layne holds a bachelor’s degree in accounting from the University of Richmond and an MBA with a concentration in international business from Old Dominion University.

With more than 1,200 physicians and 30,000 other employees, Sentara has 12 hospitals and more than 300 care sites in Virginia and North Carolina. Sentara’s Optima Health Plan and Virginia Health Plan serve 850,000 members in Virginia, North Carolina and Ohio. Sentara is poised this summer to merge with Greensboro, North Carolina-based Cone Health, which will create a combined organization with approximately $11.5 billion in combined annual revenue. Cone Health system hass five hospitals in North Carolina, employing more than 13,000 people. Through its Medicare Advantage health plan, HealthTeam Advantage, it serves 15,000 members. Kern will lead the merged health care system.

 

 

 

Axios-Athletic merger gets axed

A proposed merger between Arlington-based digital news company Axios Media Inc. and San Francisco-based sports media firm the Athletic is no longer going forward, according to a May 6 report from The Wall Street Journal.

The Journal had previously reported that the companies had been exploring merging and going public through through a special purpose acquisition company, or SPAC.  The Athletic is now said to be in merger discussions with the New York Times Co.

Axios was co-founded in 2016 by VandeHei, a former Wall Street Journal and Washington Post journalist who also co-founded Politico. Axios earned more than $60 million in revenue during 2020. The company operates a daily news website and sends its content to more than 1.4 million subscribers via an array of specialized email newsletters. Axios also produces an HBO cable television news series as well as podcasts.

UPDATED: Peraton completes $7.1B Perspecta acquisition

UPDATED MAY 7, 8:20 A.M.

Herndon-based national security contractor Peraton Inc. completed its $7.1 billion, all-cash acquisition of Chantilly-based federal IT contractor Perspecta Inc. on Thursday, according to a news release from Peraton’s parent company, New York-based private investment firm Veritas Capital.

The combined companies will be known as Peraton and will be overseen by Peraton Chairman, President and CEO Stu Shea. Perspecta Chairman and CEO Mac Curtis has announced his retirement. The move follows Peraton’s $3.4 billion cash acquisition in February of Falls Church-based Northrop Grumman Corp.’s federal IT and mission support services business.

“Perspecta has always been a differentiated, innovative leader in this industry, and this combination with Peraton will create a powerhouse within the government technology market,” Veritas CEO and Managing Partner Ramzi Musallam said in a statement. “With unparalleled capabilities and a deep bench of highly skilled employees, the combined Peraton is poised to drive enhanced value for all of its stakeholders. We look forward to investing in the long-term success of the unified enterprise and to working closely with Stu and management to support our customers’ most vital missions.”

“This is a truly transformational acquisition for Peraton and for our industry and we are thrilled to welcome our talented new colleagues from Perspecta,” Shea said. “This milestone follows our recent acquisition of Northrop Grumman’s integrated mission support and IT solutions business and further strengthens Peraton’s leading position within the government technology market. We are confident that with Veritas’ continued support, we will be well-positioned to deliver highly differentiated solutions that meet the mission-critical needs of our combined customer base.”

Perspecta Inc. shareholders voted Thursday to adopt the merger agreement, under which shareholders will receive $29.35 per share.

Veritas Capital held approximately 14.5% of Perspecta’s outstanding shares when the companies announced the pending acquisition in late January.

Perspecta, which employs more than 14,000 people, was launched in 2018 as the result of a three-way merger among Vencore Holding Corp., KeyPoint Government Solutions and the U.S. public sector business of DXC Technology. It posted $4.5 billion in fiscal 2020 revenue.