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TRANSACT IONS CALSPAN ACQUIRES TRIUMPH AEROSPACE SYSTEMS–NEWPORTNEWS TriumphGroup, Inc. and Calspan Holdings , the parent company to a thriving group of entities including Buffalo- based aerospace and automotive research company Calspan Corporation, announced the acquisition of Triumph Aerospace Systems – Newport News, Inc. The transaction was effective September 30, 2016 and the new company will operate as Calspan Systems Corporation. Triumph Aerospace Systems – Newport News generated revenues of approximately $18 million in Triumph Group’s fiscal year ended March 31, 2016. Calspan Systems Corporation, is a globally- recognized, industry-leading, engineering, design, analysis and manufacturing firm, specializing in the engineering andmanufacture of complex hardware and prototype systems. Also included in this acquisition is the company’s Force Measurement Systems division, located in San Diego, California. Triumph Aerospace Systems – Newport News had been a subsidiary of the Triumph Group since 2006. “We are very pleased to add Calspan Systems Corporation to our company, and expand our capabilities in providing our customers with a heightened expertise in aerospace engineering, testing, and design,” stated Calspan President and CEO, Louis Knotts. “This transaction is a winning combination for Calspan’s customers, employees and partners, as it builds on and complements the significant foundation already in place.” The acquired company will retain its management, technical and supporting staff and will continue operations at its current headquarters in Newport News, Virginia, along

with its San Diego facility. “We are excited to join the Calspan team,” said Stephanie Mumford, Calspan Systems Corporation President. “Our core customers are very similar, and we are now positioned to significantly enhance Calspan’s position in the industry.” Earlier this year Triumph Group President and CEO, Dan Crowley announced a transformation plan to positively position Triumph for long term success and enhance its competitive position in the marketplace. “The sale of Triumph Aerospace Systems-Newport News to Calspan is in the best interest of all companies involved,” said Crowley. “The sale will allow Triumph to focus more intently on our core business capabilities. I am confident that under Calspan the company will have greater opportunities for growth.” This acquisition expands Calspan’s global reach. As stated by Calspan Chairman, John Yurtchuk, “This acquisition reinforces Calspan as a growth company in the industries we serve, offering a consistent focus of providing an exceptional level of service to our customers.” It is expected that full integration of the companies will be completed by the end of 2016. AECOM ACQUIRES REMAINING 50 PERCENT INTEREST IN FT SERVICES JOINT VENTURE AECOM , a premier, fully integrated global infrastructure firm, announced that it has acquired the remaining 50 percent equity interest in FT Services Limited, a joint venture company based in Calgary, Alberta. Formed in January 2007 between Flint Energy Services Limited, an AECOM subsidiary, and Broadspectrum Limited, FTS specializes in

large-scale maintenance and turnaround services for the Canadian resource and energy industry, including oil sands, refining, chemical, midstream and other heavy industry facilities. FTS has partnered with some of the largest energy producers in the world to ensure the availability and reliability of their assets. FTS’ financials will be consolidated into AECOM’s construction services segment. FTS generated approximately US $210 million in revenue in the trailing twelve months. The acquisition strengthens AECOM’s oil and gas business by further diversifying its end market exposure through FTS’ 2,000 employees and skilled trades professionals, strong market position and solid opportunity pipeline. With FTS, AECOM is able to offer clients integrated, full-lifecycle services through expanded scale and resources, particularly on turnaround projects and those with construction components. These competitive differentiators allow AECOM to capitalize on growing maintenance opportunities within the Canadian petrochemical and oil and gas industries. “Our acquisition of the remaining 50 percent in FT Services further strengthens our highly differentiated and complete offering within the Canadian oil and gas market, and enables a true full suite of services to leading energy clients, particularly in regards to growing maintenance needs,” said Dan McQuade, group president, construction services. “With the combination of our strong client relationships, we have established a diverse foundation for growth within this market.”

exists? What impact do you hope to have on your firm? The industry? The world? This may sound grandiose, but it’s what millennials are looking for. Principles are what drive growth, attract talent, and customers. People don’t buy what you do, they buy why you do it. It’s why millennials would choose to work for you instead of your competitor. And it’s also why they’ll be prepared to lead your firm when you’re ready to retire. “Can each individual in your enterprise articulate why your firm exists? What impact do you hope to have on your firm? The industry? The world? This may sound grandiose, but it’s what millennials are looking for.”

PHIL KEIL, from page 11

reins. This needs to change. Even if your plan is to sell your firm, a strong set of up-and-coming leaders will make your firm much more valuable and marketable. I’m a “why” guy, like most of my generation. Millennials want something to believe in and they want to make a difference. There has to be an authentic reason why your company exists (hint: it’s not just about profits). The firm’s “why” must permeate every facet of your organization, your vision, every marketing campaign, every action you take, and every bit of communication you share internally and with the outside world. In the millennial era, that will be the difference between the firms that succeed and the firms that don’t. Getting a ping-pong table and allowing for flextime is not going to be the difference maker in the type of talent you attract. At least not for those with the potential to be your next CEO. Take some time to really think about your strategic plan, your mission, your values, and your vision. Can each individual in your enterprise articulate why your firm

PHIL KEIL is a consultant with Zweig Group’s M&A services and strategic planning. Contact him at pkeil@zweiggroup.com.

THE ZWEIG LETTER December 5, 2016, ISSUE 1178

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