EL SEGUNDO, Calif., Jan. 31 -- Wyle Laboratories, Inc., one of the leading engineering firms specializing in high-tech testing, life sciences and technical support services, today announced the appointment of George R. Melton as chief executive officer and president.
The appointment of Melton is concurrent with the completion of the previously announced acquisition by Wyle of the Aeronautics Services business of General Dynamics (NYSE: GD), which creates the leading independent test and evaluation business with projected revenues of approximately $450 million and over 3,000 employees.
Melton succeeds Gus Yiakas, who continues as chairman of Wyle's board of directors and has been with Wyle for 36 years. Under Yiakas' leadership, Wyle grew from $60 million in sales to more than $200 million. Wyle is a portfolio company of Littlejohn & Co., a private investment firm. Together, Wyle and the Aeronautics Services business will provide test and evaluation, engineering, life science and technical support services to a diverse range of customers, including aeronautics and defense contractors, as well as to Federal government agencies such as NASA and the Department of Defense.
Melton joins Wyle from the EG&G division of URS Corporation where he served as president and CEO and was responsible for leading a premier technical services company with approximately $1 billion in revenue. He joined EG&G in 2000 and during his tenure helped to significantly increase sales and profits.
"George is an outstanding leader and team builder with the growth management skills and proven experience in running a large technical services company who will lead Wyle to its next level of profitable growth," said Yiakas. "Given his experience leading and integrating similar businesses, we look forward to his expertise as we continue to grow Wyle."
Melton has extensive experience in the aerospace sector. Prior to joining EG&G, Melton was president of several aerospace component and sub-system manufacturers that were ultimately acquired by BAE Systems. Ranging in size from $300 million to $1 billion of revenue, Melton's responsibilities included president of Tracor Aerospace, Marconi Aerospace and ultimately BAE Systems Aerospace Sector.
He received his B.S. degree from the University of Tennessee and served in the U.S. Army.
Edmund Feeley, managing director of Littlejohn & Co. and a member of the Wyle Board, said, "Wyle has now doubled its size as a result of the acquisition of the General Dynamics Aeronautics business and we are pleased to have someone with George's industry expertise to help develop and implement the growth strategies of this larger and more strategically positioned company. We are pleased that Gus will continue as chairman and we will benefit from his continued guidance and experience."
Melton added: "I am very excited about joining Wyle and leading this growing company. I look forward to working with Littlejohn and the Wyle management team to capitalize on the company's technical capabilities as we further expand into the evaluation services portion of the business."
Wyle Laboratories, Inc., a privately held company, is a leader in providing testing, research and engineering services to commercial, industrial and government customers. The company also provides technical support services, life sciences, special test systems and other technical support services to the aerospace, defense, nuclear power, communications and transportation industries.
Littlejohn & Co., LLC is a private equity firm based in Greenwich, Connecticut that makes control equity investments in mid-sized companies that can benefit from its operational and strategic approach. Founded in 1996, the firm manages investment funds totaling $750 million of committed capital.