Versar, Inc. (VSR) Completes Acquisition of Charron Construction; Deal Accretive to First Year Earnings

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Versar, Inc. (NYSE: VSR) has completed the previously announced acquisition of Charron Construction Consulting, Inc.. Charron, headquartered in Dulles, Virginia, is a national construction project management firm that has provided construction management services since 1992 for a broad spectrum of projects including office, retail, industrial, civic, and various government facilities.

Charron is expected to be accretive to earnings in year one, provide the Company with over $4.5 million in annualized gross revenue, and add contracted backlog of over $8.8 million. In its recently announced third quarter, excluding Charron, Versar reported funded backlog of $97 million, an increase of 37% compared to approximately $71 million at April 1, 2011.

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