Force Protection Inc. has been sold to General Dynamics Corp.

Lincoln International acted as the sell-side advisor to Force Protection Inc. (NasdaqCM:FRPT) in its sale to General Dynamics Corp. (NYSE:GD) for $360 million in cash consideration, representing $5.52 per share and a 31% premium based on the closing trading price of $4.21.

Lincoln also rendered a fairness opinion to the Board of Directors of Force Protection. Force Protection provides survivability solutions to support the armed forces of the United States and its allies. The Company designs, tests, delivers and supports a range of blast and ballistic protected specialty vehicles.

Founded in 1997, Force Protection provides survivability solutions to support the armed forces of the United States and its allies. The Company designs, tests, delivers and supports a range of blast and ballistic protected specialty vehicles. Force Protection is a key provider of the U.S. Military’s Mine Resistant, Ambush Protected (“MRAP”) vehicle program as well as a leading provider of mine-protected vehicles to several foreign government entities such as the United Kingdom’s Ministry of Defence.

Mark C. Roualet, President of General Dynamics Land Systems, commented, “Force Protection complements and strategically expands General Dynamics’ armored vehicle business, adding new products to the expansive portfolio of combat vehicles that we currently manufacture and support. In addition, Force Protection’s skilled workforce provides high-quality support and sustainment services to an installed fleet of approximately 3,000 vehicles, strengthening our ability to support assets deployed with the U.S. Forces around the world. With this acquisition, we will create new opportunities to serve domestic and international customers alike.” Lincoln International acted as the sell-side financial advisor to Force Protection, working closely with the Company’s senior management team throughout the process, in addition to providing a fairness opinion to the Board of Directors of the Company.

Michael Moody, Force Protection’s Chairman and Chief Executive Officer, commented, “After careful consideration of the strategic direction of Force Protection, our board decided that a sale to General Dynamics would maximize value for our stockholders. With their armored vehicle business, General Dynamics will be able to pursue opportunities that we could not have pursued as a stand-alone company. As part of the General Dynamics family, our innovative products and offerings will continue to provide militaries worldwide critical assets that save troops’ lives.”

About General Dynamics Corp.

General Dynamics offers a broad portfolio of products and services in business aviation, combat vehicles, weapons systems and munitions, military and commercial shipbuilding and communications and information technology. General Dynamics Land Systems provides a full spectrum of land and amphibious combat systems, subsystems and components worldwide. More information about General Dynamics can be obtained at www.generaldynamics.com.

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