Huntington Ingalls Industries To Buy UniversalPegasus; Terms UnDisclosed

(RTTNews) - Huntington Ingalls Industries (HII) announced Friday that it agreed to acquire UniversalPegasus International Holdings or UPI, a provider of engineering and project management services to the domestic and international energy markets.

The transaction is subject to Hart-Scott-Rodino review and customary closing conditions and is expected to close in June. The value of the transaction is not being disclosed. UPI is a privately held company headquartered in Houston, Texas.

UPI has approximately 1,500 employees and has provided a broad range of engineering and project management services to the energy industry for over 50 years. They safely and reliably deliver project management, engineering, design, survey, inspection and construction management to customers in the domestic and international marketplaces.

After the acquisition closes, UPI will report to Chris Kastner, corporate vice president and general manager, corporate development.