SEACORP of Middletown, RI Acquired by Roy Kapani in a Private Transaction
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NEWPORT, R.I., March 23, 2021 /PRNewswire/ -- Systems Engineering Associates Corporation (SEACORP), a leading provider of engineering services and technology to the United States Navy announced March 19th, 2021 that it is being acquired by Roy Kapani in a private transaction. Mr. Kapani has 30 years of experience building and running successful technology companies that support the National Defense and National Security agencies of the United States of America. Mr. Kapani is the Founder of ECS of Fairfax, VA, which he ran until its sale in 2018.
Dave Lussier, President of SEACORP and his executive team of Dave Cadorette, Craig McMillian and Tanya Zaleski will continue to lead SEACORP and will ensure that the company continues its employee centric culture and commitment to delivering outstanding products and services to its customers.
"The SEACORP team is thrilled to partner with Roy and his team given their respect for our culture, experience in our markets, and a shared vision on how we can continue to grow our company," said Dave Lussier. "This partnership will allow us to further build our brand, broaden our portfolio of capabilities and expand into new customer segments by investing in the business, both organically and with strategic acquisitions."
Roy Kapani stated that, "The technologies developed and delivered by SEACORP have been a personal interest of mine for many years. I am truly excited to be working with the SEACORP team and look forward to helping them grow the company and its people into the future. I have deep respect for SEACORP and I am equally committed to maintaining the outstanding culture that their founder Brian Gilligan established and Dave Lussier and his team have nurtured over these past 40 years."
Houlihan Lokey served as the exclusive financial advisor to SEACORP. Duffy and Sweeney LLP served as legal counsel to SEACORP. Skadden, Arps, Slate, Meagher & Flom LLP and Piliero Mazza PLLC, served as legal counsel to Mr. Kapani.
About SEACORP, LLC.
SEACORP's core business is providing systems, software, and hardware engineering services as well as test and evaluation services to the U.S. Navy, chiefly for submarine electronic systems. Those services include development of software and hardware, integration of Commercial off the Shelf (COTS) products, test and evaluation, and logistics products for new systems at the leading edge of information technology. SEACORP's close proximity to the Naval Undersea Warfare Center (NUWC) in Newport facilitates our responsiveness to customer and Fleet needs.
SEACORP has a robust product development team pursuing innovative prototypes, products and emergent technologies. As a company of less than 500 employees, SEACORP actively participates in the Small Business Innovation Research (SBIR)/Small Business Technology Transfer (STTR) program, enabling development and test of innovative concepts for DoD applications.
For additional information please visit https://www.seacorp.com/.
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