Versar, Inc. Completes Acquisition Of Lime Energy's Facility Repair And Renewal Business

PR Newswire

SPRINGFIELD, Va., Feb. 25, 2014 /PRNewswire/ -- Versar, Inc. (NYSE MKT: VSR) announced today the acquisition of Lime Energy, Inc.'s Facility Repair and Renewal (FRR) business unit. The acquisition represents five task orders with total revenue between $6.2 and $9.7 million and enhances Versar's offerings in support of various DoD and other Federal agencies nationwide. 

FRR primarily serves the United States Army Corps of Engineers Huntsville Engineering Center customers providing a fast track, efficient method for design and execution of all types of facility repairs, renovations and minor construction.  This program is available to all districts and their customers as part of the Corps' "one-door-to-the Corps" policy.  FRR has supported major customers such as the Army, Air Force, Navy, Marines, National Guard, NASA and Armed Forces Radiobiology Research Institute.

Tony Otten, CEO of Versar said, "The acquisition of the Lime Energy FRR business is a perfect complement to Versar's current offerings to U.S. Government customers.  Versar is excited to provide additional services to USACE's Huntsville Engineering Center and support their varied customers nationwide."   

VERSAR, INC., headquartered in Springfield, Virginia, is a publicly traded global project management company providing sustainable value oriented solutions to government and commercial clients in the construction management, environmental services, munitions response, and professional services market areas.

VERSAR operates a number of web sites, including the corporate web sites, www.versar.com, www.ppsgb.com, and www.geo-marine.com.

This news release contains forward-looking information.  The forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995.  Forward-looking statements may be significantly impacted by certain risks and uncertainties described herein and in Versar's Annual Report on Form 10-K filed with the Securities and Exchange Commission for the fiscal year ended June 28, 2013, as updated from time to time in the Company's periodic filings. The forward-looking statements are made as of the date hereof and Versar does not undertake to update its forward-looking statements.

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Versar, Inc.

Versar, Inc.







Contact:

David Gray                          

John Nesbett or Jennifer Belodeau


Director of Financial Reporting 

Institutional Marketing Services (IMS)


Versar, Inc.                        

(203) 972-9200


(703) 642-6888                     

jnesbett@institutionalms.com


dgray@versar.com


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