ARLINGTON, Va., August 5 — Argan, Inc. (NYSE: AGX) (“Argan” or the “Company”) today announces that its wholly-owned subsidiary, Southern Maryland Cable Inc. (“SMC”), has completed the acquisition of ValCor Communications, LLC (“ValCor”), a Connecticut-based provider of installation, maintenance, and repair services for information, communication, and data networks serving customers across New England. The transaction closed July 31, 2026, with total initial consideration of approximately $8.3 million, funded through a combination of cash and Argan common stock.
Established in 1997, ValCor has built an exceptional track record serving premier customers in the defense, aerospace, and technology sectors. Its specialized expertise has supported long-standing client relationships spanning two decades or more with Fortune 500 technology companies and others in the region. These entrenched relationships significantly strengthen SMC’s competitive positioning and expand the Company’s Teledata segment into the defense, aerospace, and technology customer base across New England.
“This bolt-on acquisition expands the reach of our Teledata segment to a premier customer base that would have taken years to build organically,” said David Watson, President and Chief Executive Officer of Argan. “The client relationships ValCor has built over 25 years are simply not replicable from scratch.”
“We’ve worked alongside ValCor as a teaming partner and admired their capabilities, work ethic and reputation in the field,” said Brian Orlandi, Chief Executive Officer of SMC. “Their skillset, clients, and culture made this a complementary fit. ValCor provides SMC an immediate New England anchor, a specialized skilled workforce, and direct access to the defense, aerospace, healthcare, banking, higher education, and technology clients that align perfectly with our business. We are committed to investing in this team and helping them reach their full potential.”
“Joining SMC enables us to continue providing our clients with exceptional services while scaling to meet current and future demand,” said Kevin Clark, President of ValCor. “Our team and our clients are what makes ValCor who we are, and with SMC’s support, that will only evolve into greater things in the future.”