TYSONS CORNER, VA, February 17, 2021 — Huntington Ingalls Industries (NYSE: HII) has sold its engineering design subsidiary UniversalPegasus International to Los Angeles-based private equity firm PMC Capital Partners, GovCon Wire reported Feb. 5.
"PMC Capital is a great new home for UniversalPegasus International," said Andy Green, president of HII's technical solutions division and an inductee into Executive Mosaic's Wash100 for 2021. "It will enable UPI to continue to flourish, ensuring the business remains at the forefront of innovation and customer service in the future."
Ernst & Young Capital Advisors provided financial advice to HII on the sale process.
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