According to Fortune , Xe Services, formerly known as Blackwater, is up for sale.
Although the firm would pose as a risky investment for obvious reasons, the contractor sits on a large number of valuable assets.
Xe is known for its compound in northeast North Carolina, Forbes also cites “contracts for military training and security staff in hotspots throughout the world, a growing presence in the lucrative Asian markets, and burgeoning manufacturing units that produce everything from defense vehicles and weapons to surveillance products.”
The firm holds a contract with Transportation Command worth $750 million. The magazine reports the firm brought in $660 million in 2009 with plans to hit a billion in 2010.
While it’s possible the firm could be sold in pieces to ease the hefty task of shedding the negative publicity tied to the Blackwater moniker, one perspective buyer has been reported to be Cerberus Capital Management, noted in the government contracting realm for its 2010 purchase of DynCorp.
Forbes says Cerberus investigated a Blackwater purchase several years ago, eventually deciding it was too risky. However, those concerns may no longer be in play.