Vectrus to merge with Vertex in all-stock deal; pro forma revenue ~$3.4B

V2X, Inc.

Vertex shareholders to own ~62% of combined company; Vectrus shareholders ~38%; AIP to own ~58%.
Pro forma 2021 revenue ~$3.4B, adjusted EBITDA ~$283M with $20M cost synergies, backlog ~$11.3B.
Transaction expected to be accretive to adjusted EPS and free cash flow per share in first full year.
Vectrus will issue ~20M shares as consideration; closing subject to shareholder approval and antitrust clearance.
Combined company board to have 11 members: 5 from Vertex, 5 from Vectrus, plus CEO Chuck Prow.

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