Press Releases

Leading National Security Solutions Provider VTG Receives Majority Investment from A&M Capital Partners

Chantilly, Va. (Sept. 19, 2023) – VTG, an industry-leading provider of modernization and digital transformation solutions to Defense and Intelligence Community customers, announced today that it has received a new majority investment from A&M Capital Partners.

“I have never been more enthusiastic or optimistic about VTG’s future,” said John Hassoun, VTG President and CEO. “This partnership with AMCP will accelerate VTG’s growth trajectory, allowing us to make investments in the emerging capabilities and technologies most needed by our customers, and providing our employees with tremendous new career opportunities.”

Tracing its earliest roots to 1866, VTG engineers solutions across all classes of naval warships and submarines, a diverse array of aircraft, and a comprehensive suite of C5ISR, combat and weapon systems. The Company also develops undersea and autonomous technologies for the U.S. Navy, and delivers digital solutions and specialized mission support to the U.S. Intelligence Community. VTG has been a portfolio company of The Jordan Company since 2012. TJC exited its ownership of VTG as part of this transaction.

“We are very excited about our partnership with VTG,” said Jack McCarthy, Managing Partner and Founder of A&M Capital. “The Company’s strong portfolio of long-tenured contracts supported by a highly experienced leadership team positions the business well for continued growth over the coming years.”

“We view VTG as a highly attractive platform with differentiated technical and delivery capabilities,” said Alex Nivelle, a Partner of A&M Capital. “VTG is well positioned for expansion across its Defense and Intelligence Community customer base, and we look forward to working with the management team to pursue a hybrid organic and acquisition-driven growth strategy.”

A&M Capital Partners was advised by Kirkland & Ellis LLP. VTG was advised by Baird, Citizens Capital Markets and Mayer Brown LLP.


About VTG

VTG delivers modernization and digital transformation solutions that expand America’s competitive advantage in the modern battlespace. Headquartered in Chantilly, Virginia, VTG provides full lifecycle engineering for naval, aerospace, network and digital requirements. Whether at sea, in the air, on land, or in cyberspace, VTG delivers Tomorrow’s Transformation Today. For more information, visit us at

About A&M Capital Partners

A&M Capital Partners is Alvarez & Marsal Capital’s flagship investment strategy focused on middle-market control transactions in North America with total assets under management of $3.3 billion. A&M Capital Partners has a strong and referenceable track record of serving as a trusted partner to founders, corporates and management teams, providing the capital and strategic assistance required to take businesses to the next level of success. A&M Capital Partners invests in businesses across a wide range of sectors including Business Services, Industrials, Manufacturing, Food & Beverage, Healthcare, Consumer & Retail, Government Services, Financial Services and Energy Services.

About Alvarez & Marsal Capital

Alvarez & Marsal Capital is a multi-strategy private equity investment firm with over $4.8 billion in assets under management across six funds and four investment strategies. The firm is led by a highly experienced investment team, which is augmented by a strategic association with Alvarez & Marsal (“A&M”), one of the largest operationally-focused advisory firms in the world. Alvarez & Marsal Capital combines a focus on middle-market private equity investing, with deep operational expertise, industry knowledge and global corporate relationships, making Alvarez & Marsal Capital an attractive partner to management teams and business owners. Alvarez & Marsal Capital is headquartered in Greenwich, CT with offices in Los Angeles, CA and London, England. For more information, visit

Press Releases

VTG Awarded Prime Position on $4B Navy PEO C4I CANES Full Production Contract

Chantilly, Va., April 12, 2023 – VTG, an industry-leading provider of force modernization and digital transformation solutions, announced today that it has won a prime position on a multiple-award Department of the Navy contract for the production of the Consolidated Afloat Networks and Enterprise Services (CANES) information warfare platform. CANES is the Navy’s program of record to consolidate surface ship and submarine C4ISR networks and infrastructure. The indefinite delivery, indefinite quantity contract was awarded by PEO C4I and the Tactical Networks Program Office (PMW 160). It has a potential value of $4.1 billion over a ten-year period of performance.

“The deployment of CANES across the Fleet is critical to achieving distributed warfighting and decision superiority,” said John Hassoun, VTG president and CEO. “VTG has installed and integrated CANES aboard numerous warships and submarines since the program’s inception. We’re proud that the Navy is now asking VTG to also produce CANES, an important recognition of our robust and growing C4ISR modernization capabilities.”

CANES provides a secure tactical afloat network for Naval and Joint Operations. It leverages a common computing environment and mature cross-domain technologies, reducing network infrastructure footprint and costs, and increasing reliability, security, interoperability, and application hosting. PEO C4I will use the CANES Full Deployment Contract to procure build-to-print CANES production units, kits, modules, components, software, spares, and development items.

VTG provides comprehensive modernization services to the Navy. From design, development, and prototyping of emerging technologies to production, installation, integration, and sustainment of combat, weapon, and C4ISR systems, the Company performs full lifecycle engineering across an expansive portfolio of prime contracts with the Navy system commands.

Press Releases Uncategorized

VTG Acquires Next Rev Technologies, LLC, Enhancing Multi-Cloud Software Development and Adding Intelligence Community Customers

CHANTILLY, Va., Nov. 15, 2022 — VTG, an industry-leading provider of force modernization and digital transformation solutions, is pleased to announce the acquisition of Next Rev Technologies, LLC., a trailblazer in cloud solutions and multi-cloud strategies for the U.S. Intelligence Community. Next Rev adds differentiated digital, software, and cyber expertise to VTG’s growing suite of technical capabilities, and greater depth in data science and advanced analytics.

“Next Rev adds valuable in-demand and highly complimentary capabilities along with exceptional new client relationships to VTG’s portfolio,” said John Hassoun, VTG President and CEO. “This acquisition is the next investment in our targeted growth strategy, and I’m excited to welcome the Next Rev team to VTG.”

Founded in 2016 by innovator and industry veteran Charles Griffin, the Next Rev team has earned a reputation within the intelligence community and among its industry partners for being nimble and creative “solutioneers” for some of the most mission-critical intelligence programs and on some of the most technically challenging problems. “Next Rev was founded on the principle of Going Beyond – for our customers, our teammates, and the mission,” said Griffin. “I’m proud of what the Next Rev team has accomplished for the intelligence community. With VTG, we’re going to take it to the next level. This is the perfect combination for our customers and the right home for our employees.”

VTG continues to execute on its strategy, building the preeminent mid-tier national security company. Next Rev represents VTG’s fifth acquisition since Hassoun took the helm in 2017. The company deepens VTG’s digital transformation capabilities required for its rapidly growing defense and intelligence community customer portfolio.

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VTG Awarded $20M Navy Combat Systems Modernization Task Order from NSWC Port Hueneme

CHANTILLY, Va., Jan. 10, 2022 — VTG, an industry-leading provider of force modernization and digital transformation solutions, announced today that it has been awarded a $20 million task order to modernize the Aegis Combat System through its Technical Insertion 16 Sustainment, Installation, Procurement, and Engineering Services contract with the Naval Surface Warfare Center Port Hueneme Division, a field activity of the Naval Sea Systems Command. The TI16 program is the Navy’s enterprise approach to modernizing combat systems across the surface fleet, including the Aegis Combat System, and supports all cruisers and destroyers, aircraft carriers and amphibious ships.

“Winning this competitive task order on the TI16 program is an important milestone for our team and another exciting opportunity to contribute our technical expertise to the Navy’s modernization efforts” said John Hassoun, VTG president and CEO. “The Aegis Combat System is vital to defending the Navy’s surface fleet and we look forward to leveraging our robust, full lifecycle engineering capabilities in further support of NSWC-PHD and NAVSEA.”

The company won a seat on the TI16 indefinite delivery, indefinite quantity contract in April. The program enables the Navy to introduce the latest commercial-off-the-shelf technologies and open architecture designs into Navy combat systems.

Through this task order, VTG will provide engineering and logistics support services to the Air Dominance Department in-service engineering agent mission. NSWC-PHD is the designated ISEA for the TI16 suite of equipment. The contract will provide engineering, technical services and materials required for the resolution of obsolescence, reliability and maintainability issues, production and rework, testing, evaluation and life cycle support functions. Included under the contract is also the limited manufacture, assembly and testing of developed TI16 solutions as well as associated engineering services, procurement and related products.

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VTG Appoints Navy Retired Admiral Jim Shannon as EVP for Government Relations

CHANTILLY, Va., Jan. 5, 2022 — VTG, an industry-leading provider of force modernization and digital transformation solutions, announced it has appointed retired Navy admiral (RADM) Jim Shannon to a new leadership team role as Executive Vice President for Government Relations. Shannon is the former president of ASSETT, Inc., VTG’s latest acquisition.

“We are honored to have Jim take on this new responsibility,” said VTG President and CEO John Hassoun. “He will be a force multiplier across the VTG enterprise, enhancing the support we deliver to our Defense and Intelligence Community customers and positioning our growing technology portfolio to meet our customers’ emerging mission requirements.”

Shannon was a leader in the Department of the Navy’s acquisition workforce for over 15 years, with his final eight years as a flag officer. He spent his first 20 years in the Navy as a fleet operator, serving on seven different afloat commands including as commanding officer of a guided missile frigate. Shannon was also a leading Navy spokesperson for weapon system architectures; oversaw future modernization plans and budgets for all non-nuclear ships while serving as a deputy commander, Naval Sea Systems Command; and led the Navy’s warfare center enterprise of over 20,000 personnel and a diverse group of programs from cruise missile defense to counter IED threats.

As deputy assistant secretary of the Navy for International Programs, Shannon advised dozens of partner national leaders, among more than 40 countries, and coordinated maritime solutions for local and regional security problems across the globe. After retiring from the Navy, Shannon joined PricewaterhouseCoopers public sector as a leading consultant for all Naval Executive advisory supporting maritime security.

Shannon first joined VTG’s executive team when VTG acquired ASSETT in August 2021. ASSETT develops AI/ML applications for undersea and unmanned systems and is a longstanding industry leader in submarine SONAR acoustics and signal processing. The acquisition enhanced VTG’s core capabilities, including systems and cybersecurity engineering, software development and data science, with deep expertise in model-based systems engineering, DevSecOps, AI/ML, and human-machine teaming.

Shannon holds degrees from the U.S. Naval Academy, the Naval Postgraduate School, and the College of Naval Warfare in Newport, Rhode Island. He was also certified Level III as a program manager in the Defense Acquisition Workforce and attended the Defense Acquisition University.

Learn more about Jim Shannon and the acquisition at

Press Releases

VTG Hires Naval Sea and Air Systems Executive Rick Sabol as Senior Vice President

CHANTILLY, Va., Nov. 10, 2021 — VTG, an industry-leading provider of force modernization and digital transformation solutions, announced today that it has hired Rick Sabol as senior vice president. In this new role, Sabol will oversee a growing portfolio of U.S. Navy support programs, including VTG’s recently won Navy Strategic Systems Programs prime contract to provide engineering services for the Navy’s hypersonic strike capability.

“Rick is an incredible asset to VTG. He has extensive experience delivering services, solutions and technologies to the Navy systems commands, our highest priority customers,” said VTG President and CEO John Hassoun. “Our leadership team looks forward to having his insight and expertise as we work together to provide the next generation of warfighting capabilities to our defense and intelligence community customers.”

Sabol brings more than 35 years of experience to VTG, including from his most recent role as senior vice president of operations for SAIC’s Defense Systems Group, where he led the company’s Naval Sea & Air Systems Operation. In this role, he was responsible for the strategic direction, planning and execution of SAIC’s effort to provide mission-oriented systems engineering, platform integration, training, enterprise IT and management services to the Naval Sea Systems Command, Naval Air Systems Command, affiliated Program Executive Offices and Warfare Centers, the Chief of Naval Operations, U.S. Fleet Forces Command and the Military Sealift Command.

Earlier, Sabol was vice president and operations manager with Alion Science and Technology, leading the In-Service Support Operation within the company’s Acquisition & Program Management Group. His responsibilities included providing engineering and program management support to various U.S. Navy programs at PEO SHIPS, SEA 21, PEO IWS, PEO Carriers, NAVAIR and Naval District Washington, both in the U.S. and internationally.

Sabol has a Bachelor of Science in public policy and management and a Master of Science in public management and policy analysis, both from Carnegie Mellon University. He is a Project Management Institute Certified Project Management Professional and a Lean Six Sigma Black Belt.

News Article Press Releases

VTG Wins Navy Hypersonics Engineering Prime Contract

CHANTILLY, Va., September 14, 2021 — VTG, an industry-leading provider of force modernization and digital transformation solutions, announced today that it has won a prime contract from the U.S. Navy Strategic Systems Programs to provide engineering services for the Navy’s hypersonic strike capability, a top Defense Department priority. Under the single-award contract, VTG will support the Conventional Prompt Strike Program Office, a division of SSP, with research and development expertise, systems engineering, test planning and test engineering, logistics, and a wide range of programmatic and technical services.

“VTG is honored to partner with Navy SSP and the CPS Program Office in developing and fielding a hypersonic weapon,” said John Hassoun, VTG president and CEO. “We recognize the importance of hypersonic technologies as a deterrent to near-peer competitors, and we are proud to be a key member of the growing hypersonic industrial base.”

CPS will provide the Navy with a hypersonic conventional weapon capable of precise, timely, long-range strike against deep-inland, time-critical, soft- and medium-hardened targets in contested environments. The missile, which is comprised of a hypersonic glide body and a two-stage booster, will fly at speeds exceeding Mach 5 and be launched from both surface ships and submarines. The Navy is the lead designer for the common hypersonic missile that will be fielded by both the Navy and the Army. The Navy plans to deploy the first CPS weapon system aboard the Zumwalt-class destroyers in FY2025 followed by the Virginia-class attack submarines in FY2028.

Navy SSP’s selection of VTG to support the CPS program follows a string of other recently announced awards that have positioned VTG as a critical partner to the Navy in delivering the diverse array of offensive, defensive, and digital capabilities needed for Distributed Maritime Operations. In July, VTG announced its selection to integrate the ODIN directed energy laser weapon system aboard the Arleigh Burke-class destroyers. Earlier this year, VTG announced that it had started work on a prime contract to support the Naval Digital Integration Support Cell in accelerating naval digital transformation.

“VTG is excited to add hypersonics to our growing portfolio of engineering expertise,” said Sunil Ramchand, VTG chief growth officer. “We’re looking forward to supporting the CPS program and doing what we do best: leveraging top engineering and technical talent to rapidly deliver transformative capabilities and technologies to the Fleet.

Press Releases

VTG Acquires ASSETT, Inc., Adding Artificial Intelligence-enabled Undersea Warfare and Unmanned Systems Capabilities to Portfolio

CHANTILLY, Va., Aug. 25, 2021 — VTG, an industry-leading provider of force modernization and digital transformation solutions, is pleased to announce the acquisition of ASSETT, Inc., a pioneer in undersea warfare and unmanned systems technologies. The combination adds differentiated artificial intelligence/machine learning applications and unique submarine acoustic expertise to VTG’s growing naval systems portfolio.  

“I’m excited to welcome ASSETT’s innovative engineers, software developers, and scientists to VTG,” said John Hassoun, VTG president and CEO. “Submarines, unmanned platforms, and AI/ML-enabled C5ISR systems will play an increasingly important role in Distributed Maritime Operations. ASSETT is developing the solutions and emerging technologies that will be foundational to this dispersed and networked fleet architecture. We look forward to bringing these transformational technologies and expertise to the Navy as well as customers across the Defense enterprise and Intelligence Community.”

Founded in 2001, ASSETT develops AI/ML applications for undersea and unmanned systems and is a longstanding industry leader in submarine SONAR acoustics and signal processing. In its mission-critical work to support defense modernization, the company has also developed and fielded a prototype integrated control system for combat submersibles and a battery management system for lithium-ion powered platforms.

ASSETT’s core capabilities include systems and cybersecurity engineering, software development and data science, with deep expertise in model-based systems engineering, DevSecOps, AI/ML, and human-machine teaming. The company has been remarkably adept at collaborating with customers to rapidly develop and field prototype technologies using Small Business Innovation Research phase three agreements and Other Transaction Authority contracts. These proprietary technologies are now the foundation of a growing VTG solutions portfolio well positioned for further development, fielding, and commercialization.

“ASSETT and VTG share similar cultures and strong core values, and I’m confident that this partnership will enable us to realize our vision of continuing to develop next generation solutions for our customers,” said ASSETT president, retired Rear Admiral Jim Shannon. “As a result of this acquisition, ASSETT employees will enjoy expanded growth opportunities and our combined clients will have access to a wider array of expertise, tools, and technologies to help them achieve their goals.”

Shannon, who previously served as Deputy Assistant Secretary of the Navy for International Programs as well as Deputy Commander of the Naval Sea Systems Command, will continue to lead ASSETT as it is integrated into the VTG enterprise as a technology development center of excellence.     

Press Releases

VTG Wins NSWC Port Hueneme Prime Contract to Equip More Ships With Innovative Counter-UAS Laser

CHANTILLY, Va., July 21, 2021 — VTG, an industry-leading provider of force modernization and digital transformation solutions, announced that it has been selected by the Naval Surface Warfare Center, Port Hueneme Division, a field activity of the Naval Sea Systems Command, to equip more ships in the U.S. Fleet with an innovative laser designed to counter threats from unmanned aerial systems. Under the prime, single-award contract, VTG will install and integrate the AN/SEQ-4 Optical Dazzler Interdictor, Navy (ODIN), a directed energy weapon, aboard five U.S. Navy Arleigh Burke-class destroyers.

“Our team is honored to support NSWC-PHD in integrating this innovative defensive technology into the Fleet. The ODIN laser represents a significant advancement for the Navy in addressing asymmetric threats and protecting our sailors,” said John Hassoun, VTG president and CEO. “Delivering next-generation capabilities to our warfighters is something we’re passionate about. VTG’s depth of expertise with ODIN, together with our skilled fleet modernization team, cutting-edge manufacturing and prototyping capabilities, and long-term legacy of support to the Navy, makes us uniquely qualified to perform this mission critical work.”

In 2020, VTG successfully integrated the ODIN laser aboard the USS Stockdale (DDG 106) and USS Spruance (DDG 111) through a separate sole-source contract, completing both projects on time and on budget, and setting the standard for future directed energy weapon installations aboard U.S. Navy ships.

ODIN, a member of the Navy Laser Family of Systems, is a laser used to counter adversary UAS-mounted intelligence, surveillance and reconnaissance capabilities. This laser for the optical dazzling of adversaries’ long-range and very long-range surveillance systems is being developed and built by the government at NSWC Dahlgren Division, and rapidly fielded to meet an urgent Fleet need. The ODIN laser will be employed on surface combatants to counter asymmetric threats and to provide a scalable response for escalation of force.

Over the past decade, VTG has modernized 240 different surface ships, aircraft carriers and submarines. With a record of exceptional quality, uncompromising safety, and on-time and on-budget delivery, VTG ensures that our sailors have a competitive advantage over near-peer adversaries now and in the future.

Press Releases

VTG Awarded NAVSEA Prime Contract to Expedite Delivery of Innovative Technologies to the Fleet

VTG, an industry-leading provider of force modernization and digital transformation solutions, announced that it has won a $27 million, full and open, single-award, prime contract to support the Naval Sea Systems Command in overseeing and executing its Small Business Innovation Research and Small Business Technology Transfer programs, and assisting in the expedient transition of SBIR and STTR technologies, products and services to the fleet.

“We are honored to support NAVSEA in harnessing the creativity, agility and entrepreneurial spirit of small businesses to deliver the highest-priority technology needs of the Navy,” said John Hassoun, VTG president and CEO. “We look forward to leveraging our expertise across the defense and intelligence sectors to increase small business participation in federally funded research and development, foster collaboration between small firms and nonprofit research institutions, and stimulate the exciting technological innovations that will transform our nation’s sea power and benefit our national economy.”

Under the five-year contract, VTG will provide program and project support services to the NAVSEA SBIR/STTR programs by defining focus areas, developing topics and identifying small business proposals and contractors to participate in the program. The company will also be responsible for supplying expertise and knowledge to assist the program manager in developing strategies and plans, as well as policies, processes and procedures to increase the quality, efficiency and effectiveness of the SBIR/STTR programs. The work will primarily be performed at the Washington Navy Yard.

The SBIR program originated in 1982 as the government’s primary mechanism for engaging small technology businesses in R&D. It was designed to spur technological innovation, help meet federal R&D needs, increase private sector commercialization of innovations resulting from federally funded investments and encourage participation by minority and disadvantaged persons. The Navy has taken part in the SBIR program since its inception and has developed the highest commercialization success rate in the Defense Department. Last September, NAVSEA SBIR/STTR received the prestigious DoD Vanguard award for recognition of its outstanding work in supporting the Navy’s goal to “rapidly and adaptively procure innovative technologies from small businesses.”