This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here
See Cramer's multi-million dollar portfolio for FREE and get his new book Get Rich Carefully! Learn More

Versar, Inc. Announces Plans To Acquire Charron Consulting Construction, Inc.

Versar, Inc. (NYSE Amex: VSR) announced today that it has reached an agreement to acquire Charron Construction Consulting, Inc. (“Charron”). 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.

The Charron transaction is expected to close within the next 30 days and contains customary conditions to closing. The acquisition price will range between $3.0 - $3.5 million and will be satisfied with cash, a seller note, and payments under an earn-out. The acquisition is expected to be accretive in the first year. Charron is expected to provide the Company with over $4.5 million in annualized gross revenue and contracted backlog of over $8.8 million.

Tony Otten, CEO of Versar, said, “The acquisition of Charron Construction Consulting is a great strategic fit for Versar and will strengthen our U.S. based construction management practice. We are extremely excited about the opportunities this combination offers and expect the combination to solidify our global engineering and construction division.”

Charron’s management will stay intact and report to Lee Staab, Versar’s Engineering and Construction Group’s Sr. Vice President. Chris Charron, Charron Construction Consulting, Inc. CEO, said, “This combination will provide new opportunities for us to expand our federal government construction management work and leverage Versar’s existing client base.”

VERSAR, INC., headquartered in Springfield, VA, is a publicly held international professional services firm supporting government and industry in national defense/homeland defense programs, environmental health and safety and infrastructure revitalization. VERSAR operates a number of web sites, including the corporate Web sites, http://www.versar.com, http://www.homelanddefense.com, http://www.geomet.com; http://www.viap.com; http://www.dtaps.com; www.ppsgb.com; www.adventenv.com.

CHARRON CONSTRUCTION CONSULTING, INC., headquartered in Dulles, VA, provides professional project and program management services for governmental, judicial, commercial, institutional, retail, and industrial clients. Services include a full spectrum of agency construction management roles as well as LEED/sustainability consulting. Charron operates its corporate website as www.charronconsulting.com.

This news release contains forward-looking information. The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be significantly impacted by certain risks and uncertainties described herein and in Versar’s Annual Report on Form 10-K filed with the Securities and Exchange Commission for the fiscal year ended July 1, 2011, as updated from time to time in the Company’s periodic filings. The forward-looking statements are made as of the date hereof and Versar does not undertake to update its forward-looking statements.

Stock quotes in this article: VSR 

Select the service that is right for you!

COMPARE ALL SERVICES
Action Alerts PLUS
Try it NOW

Jim Cramer and Stephanie Link actively manage a real portfolio and reveal their money management tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
  • Weekly roundups
TheStreet Quant Ratings
Try it NOW
Only $49.95/yr

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
  • Upgrade/downgrade alerts
Stocks Under $10
Try it NOW

David Peltier, uncovers low dollar stocks with extraordinary upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
  • Weekly roundups
Dividend Stock Advisor
Try it NOW

Jim Cramer's protege, David Peltier, identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Alerts when market news affect the portfolio
  • Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
Real Money Pro
Try it NOW

All of Real Money, plus 15 more of Wall Street's sharpest minds delivering actionable trading ideas, a comprehensive look at the market, and fundamental and technical analysis.

Product Features:
  • Real Money + Doug Kass Plus 15 more Wall Street Pros
  • Intraday commentary & news
  • Ultra-actionable trading ideas
Options Profits
Try it NOW

Our options trading pros provide daily market commentary and over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • 100+ monthly options trading ideas
  • Actionable options commentary & news
  • Real-time trading community
  • Options TV
To begin commenting right away, you can log in below using your Disqus, Facebook, Twitter, OpenID or Yahoo login credentials. Alternatively, you can post a comment as a "guest" just by entering an email address. Your use of the commenting tool is subject to multiple terms of service/use and privacy policies - see here for more details.
DOW 16,507.18 +5.53 0.03%
S&P 500 1,875.39 -4.16 -0.22%
NASDAQ 4,126.9670 -34.4910 -0.83%

Brokerage Partners

Rates from Bankrate.com

  • Mortgage
  • Credit Cards
  • Auto
Advertising Partners

Free Newsletters from TheStreet

My Subscriptions:

After the Bell

Before the Bell

Booyah! Newsletter

Midday Bell

TheStreet Top 10 Stories

Winners & Losers

Register for Newsletters
Top Rated Stocks Top Rated Funds Top Rated ETFs