82.1 F
San Fernando
Monday, May 23, 2022

Saalex Buys Defense IT Contractor in Rhode Island

Saalex Corp. has acquired Netsimco, an information technology support provider for defense and aerospace customers.

Financial terms of the deal between Saalex in Camarillo and Netsimco in Middletown, Rhode Island were not disclosed.

The transaction provides Saalex with expanded capabilities in the aerospace and defense markets and grows it to annual revenue of about $100 million, the company said in a release.

Travis Mack, chief executive of the Ventura County IT provider, said the deal was part of a long-term growth strategy to expand the business into one of the largest employee-owned IT services providers in the defense market.

“Netsimco has unrivaled credibility with information tech support and past performance for its defense customers, and we are thrilled to bring that expertise and those capabilities into Saalex,” Mack said in a statement.

Netsimco will become a wholly owned subsidiary of Saalex, and its executive leadership will stay on with the company through the transition. The nearly 200 employees of Netsimco will be able to participate in the company’s employee-ownership plan.

No staffing reductions are planned, Saalex said in its release.

Mark Madler
Mark Madler
Mark R. Madler covers aviation & aerospace, manufacturing, technology, automotive & transportation, media & entertainment and the Antelope Valley. He joined the company in February 2006. Madler previously worked as a reporter for the Burbank Leader. Before that, he was a reporter for the City News Bureau of Chicago and several daily newspapers in the suburban Chicago area. He has a bachelor’s of science degree in journalism from the University of Illinois, Urbana-Champaign.

Featured Articles

Related Articles