Ground Equipment Facility QRC

Flowserve to Acquire Velan in an All-cash Transaction Valued at Approximately $245 million (C$329 million)

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Friday, February 10, 2023
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Flowserve will also assume Velan’s $31.4 million (C$42.2 million) of cash and cash equivalents, also as of November 30, 2022.

Key Points: 
  • Flowserve will also assume Velan’s $31.4 million (C$42.2 million) of cash and cash equivalents, also as of November 30, 2022.
  • Through its fiscal third quarter ended November 30, 2022, Velan reported trailing twelve-month revenues of approximately $380 million with reported EBITDA of approximately $21 million.
  • Upon completion of the Transaction, Velan will become part of Flowserve’s Flow Control Division (FCD) segment.
  • In addition to revenue synergies created through a global aftermarket footprint, Flowserve expects to realize approximately $20 million (C$26 million) of run-rate cost synergies within two years after close.

KBR Awarded NOVASTAR Contract through Xandar Joint Venture for U.S. Air Force

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Thursday, September 1, 2022
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HOUSTON, Sept. 1, 2022 /PRNewswire/ --KBR (NYSE: KBR) announced today that Xandar, LLC, a KBR joint venture, has been awarded a $4.8 billion ceiling multiple-award, indefinite delivery/indefinite quantity contract for the National Air and Space Intelligence Center (NASIC) Scientific and Technical Information Analytic Capability Support (NOVASTAR).

Key Points: 
  • HOUSTON, Sept. 1, 2022 /PRNewswire/ --KBR (NYSE: KBR) announced today that Xandar, LLC, a KBR joint venture, has been awarded a $4.8 billion ceiling multiple-award, indefinite delivery/indefinite quantity contract for the National Air and Space Intelligence Center (NASIC) Scientific and Technical Information Analytic Capability Support (NOVASTAR).
  • Xandar LLC combines KBR, NASIC's trusted Advanced Technical Exploitation Program prime, with NASK, a small business performer with a history of prime support to NASIC and the intelligence community.
  • KBR serves as the mentor in the joint venture, which is designed to enhance the capabilities of protg firms.
  • "Xandar is the natural alignment of NASK and KBR with a demonstrated, seamless ability to work together to advance the NASIC mission.