Operator
Ladies and gentlemen, thank you for standing by, and welcome to the Fourth Quarter 2020 Huntington Ingalls Industries Earnings Conference Call. [Operator Instructions]
I would now like to hand the call over to Dwayne Blake. Vice President of Investor Relations. Mr. Blake, you may begin.
Dwayne Blake
Vice President, Investor Relations
Thanks. Good morning, and welcome to the Huntington Ingalls Industries Fourth Quarter 2020 Earnings Conference Call. With us today are Mike Petters, President and Chief Executive Officer; and Chris Kastner, Executive Vice President and Chief Financial Officer. As a reminder, statements made in today s call that are not historical fact are considered forward-looking statements and made pursuant to the safe harbor provisions of federal securities law. Actual results may differ. Please refer to our SEC filings for a description of some of the factors that may cause actual results to vary materially from anticipated results.
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LOS ANGELES, Feb. 3, 2021 /PRNewswire/ PMC Capital Partners, LLC (PMC Capital) is back again on the acquisition trail after completing the buy-out of an award-winning multifunctional engineering design firm, UniversalPegasus International, Inc., of Huntington Ingalls Industries, Inc. (NYSE: HII). Headquartered in Houston, Texas, UniversalPegasus has a track record of delivering turnkey integrated engineering, procurement, and construction management (EPCM) solutions; ranked by
Engineering News-Record (ENR) as No. 59 of the Top 500 Design Firms and among the top 10 in the petroleum sector. ENR s list ranks public and private companies by its markets share of total revenue. Financial terms of the deal with HII were not disclosed.
UniversalPegasus International poised for continued success under New Ownership
UniversalPegasus International poised for continued success under New Ownership
HOUSTON, Feb. 2, 2021 /PRNewswire/ On February 2, 2021, UniversalPegasus International was acquired by PMC Capital Partners, LLC, a private equity firm based in Los Angeles, California, from Huntington Ingalls Industries, Inc. PMC Capital is backed by a multi-billion dollar conglomerate that has more than 100 years of collective private equity experience.
The acquisition of UPI by PMC Capital will allow UPI to continue its proven track record of vertical expansion and organic growth in the oil and gas services sector. In recent years, UPI has expanded its offerings from engineering and field services to include engineering, procurement, construction management, and related construction activities. Through this transformation, UPI has been steadfast in its dedication to being the best overall project delivery compan
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