Huntington Ingalls Industries (NYSE:HII) has entered into an agreement to acquire UniversalPegasus International Holdings (UPI), a provider of engineering and project management services to the domestic and international energy markets. The transaction 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. The company delivers project management, engineering, design, survey, inspection, and construction management to customers in the domestic and international marketplaces.
Huntington Ingalls Industries designs, builds, and maintains nuclear and non-nuclear ships for the US Navy and Coast Guard and provides after-market services for military ships around the globe. HII also provides a wide variety of products and services to the commercial energy industry and to other government customers, including the US Department of Energy.