PMC Capital, a private equity firm headquartered in Los Angeles, agreed to acquire UniversalPegasus International, a multifunctional engineering design firm, from Huntington Ingalls Industries, America’s largest military shipbuilding company. Financial terms were not disclosed. "UPI is the industry leader in project delivery and the employer of choice in the Houston and Calgary engineering markets. Our success stems from our strong company values and commitment to transparency. With PMC Capital behind us, UPI will continue to differentiate itself and outperform the competition as one of the few remaining independent oil and gas engineering companies. We expect to emerge from the pandemic in a strong financial position poised for double-digit growth," Tom Davison, UPI CEO.