On October 4, 2006, WWC Securities, LLC ("WWC") completed the sale of Innovative Technologies Logistics, Inc.'s ("Innolog") US Defense & Air Force division to MCR Federal. The terms of the transaction were not disclosed.
Mr. Verle B. Hammond, President and CEO of Innolog., said, "WWC advised me on the successful divestiture of a portion of my US Defense contracting business. Before we started the process, I did not imagine how complicated and difficult it would become, given a series of unforeseen, adverse events that were beyond our control. Although some of these challenges seemed insurmountable at times, WWC helped me navigate through to close a successful transaction and ultimately meet my objectives."
Mr. Hammond then added, "Perhaps most of all, I appreciate WWC's persistence and desire to close the deal and provide me with a thorough understanding of the key issues throughout the process. At times, the decisions we made were critical, and being well-informed may have made the difference in achieving our successful result."
About WWC Securities, LLC
WWC Securities is an investment banking and private equity firm dedicated to serving middle-market firms in need of capital raising or merger and acquisition advisory services. WWC has significant financial advisory expertise in the technology, aerospace and defense, and professional services sectors. WWC's investment banking professionals have extensive advisory and transaction experience in operating companies, major investment banks, investment firms, and professional services firms. WWC principals have completed over 325 transactions totaling over $15 billion in value.
About Innovative Logistics Technologies, Inc.
Headquartered in McLean , Virginia , Innolog, an international technology company provides efficient and effective supply chain logistics solutions. At a time when access to information is drastically increasing the pace at which all businesses must perform, Innolog is continually injecting the innovative thinking and effective technology that positions our clients for increased growth, efficiency and profitability. With an outstanding performance record focused on customer success, Innolog, has provided fully integrated life cycle solution: an end-to-end process to manage, control, and accelerate material and information across disparate functional and geographic boundaries to reduce supply chain costs and time of product and information flow from origin to consumption since its founding in 1989.
About MCR Federal
MCR Federal, Inc., founded in 1977, is one of the premier cost and financial management support contractors in the defense industry. MCR's solutions include cost estimating and analysis; financial management, including budget formulation and execution, analysis, reconciliation, NULO and ULO research and resolution, and financial reporting; contract reconciliation and closeout; and technical and schedule engineering trade-off assessments. With a current work force of almost 300 people and approximately $32M in annual revenue, the company was founded with the objective of building a performance-oriented cost estimating and financial analysis service company known for responsive, high quality products. MCR Federal has rapidly emerged as a leading supplier of these services to a diverse array of Department of Defense clients.
