BMT Group, a leading international engineering, maritime and risk management consultancy, has announced the sale of BMT Syntek Technologies Inc to Fulcrum Corporation.
Fulcrum Corporation is an award-winning woman-owned small business (WOSB) based in Arlington, VA. providing customized services and solutions to organizations within the Department of Defense, the Department of Transportation, and various private sector companies.
The Board of BMT Group believes this to be a beneficial move for the staff of BMT Syntek Technologies, given the prolonged period of time during which the company has seen its traditional market become increasingly squeezed and restricted to small business set-aside contracts. As part of the BMT group, BMT Syntek Technologies has been classed as a large business and has therefore been unable to propose for such contracts, whereas ownership by Fulcrum will once again make it an eligible small business and will help the sustainability of the business going forward. Equally importantly, combining with the Fulcrum Corporation will give the company a greater critical mass.
BMT Group Chief Executive Peter French commented: “I am confident that Fulcrum Corporation’s acquisition of BMT Syntek Technologies, Inc will prove to be beneficial for both companies and their employees. While it is always sad to see friends and colleagues leave the BMT family, this is a pragmatic move that will allow BMT Syntek Technologies Inc to operate within the current contracting environment and to achieve its full potential.”
Peter French continued: “We look forward to retaining a long term indigenous presence in the US defence arena through our long standing company BMT Designers & Planners Inc”
Vijay K. Kohli, President of Fulcrum Corporation said: “The sale is mutually beneficial to Fulcrum Corporation and BMT Syntek Technologies, Inc. Fulcrum Corporation will expand its capabilities and customer base while BMT Syntek Technologies, Inc. will be able to pursue small business set-aside opportunities that they are currently ineligible to pursue. In addition, we anticipate some synergy between BMT Syntek Technology’s world-class electrical power capabilities and Fulcrum’s naval science and technology development and ship design engineering expertise.”