BCS, LLC acquired Allegient Defense, Inc. from NowVertical Group Inc. for approximately $12.5 million.
Following the closing, BCS and Allegient Defense will merge to form a new entity called BCS Allegient and will be led by current BCS Chief Executive Officer Alain R. Williams. Angel Diaz, the current Allegient Defense Chief Executive Officer will stay on as Chief Development Officer and will focus on growth and business development for the new entity. The disposition clears $3.8 million of debt from NOW?s balance sheet, significantly reducing overall debt liabilities. The sale helps reduce deferred liabilities, improving NOW's financial health. Proceeds from the disposition support NOW's growth plans for its integrated business, enabling strategic investments in core areas.
BCS, LLC completed the acquisition of Allegient Defense, Inc. from NowVertical Group Inc. (TSXV:NOW) on May 27, 2024.