Versar, Inc. Announces Plans to Acquire Charron Consulting Construction

Versar, Inc.

announced today that it has reached an agreement to acquire Charron Construction Consulting, Inc. Charron, headquartered in Dulles, Virginia, is a national construction project management firm that has provided construction management services since 1992 for a broad spectrum of projects including office, retail, industrial, civic, and various government facilities. The Charron transaction is expected to close within the next 30 days and contains customary conditions to closing. The acquisition price will range between $3.0 - $3.5 million and will be satisfied with cash, a seller note, and payments under an earn-out. The acquisition is expected to be accretive in the first year. Charron is expected to provide the Company with over $4.5 million in annualized gross revenue and contracted backlog of over $8.8 million.