V2X CEO & President Chuck Prow Secures 9th Wash100 Win for Successful Integration & Transformation Efforts
Executive Mosaic is honored to recognize V2X CEO and President Chuck Prow as a winner of the 2023 Wash100 Award, an annual distinction bestowed upon the best and brightest “executives of consequence” within the vast and multi-faceted government contracting ecosystem.
Prow’s win this year is attributed to his demonstrably successful leadership strategy through the integration of Vectrus and Vertex into the combined V2X enterprise and to his anticipated continuation of growth and expansion of the company post-merger.
This marks Prow’s ninth year of acclaim in the award’s 10-year history and cements his place as one of GovCon’s most elite, influential and impactful executives. Visit Wash100.com to vote for Chuck Prow as your favorite 2023 winner!
“Chuck is a long-time leader and one of the most highly-recognized figures in the GovCon industry,” commented Jim Garrettson, CEO of Executive Mosaic and founder of the esteemed Wash100 Award. “One of the many reasons Chuck has earned the respect of the GovCon community is his ability to promise in advance and deliver on his promises, as has been evident in his highly-visible transformation of V2X,” Garrettson continued.
Vectrus and The Vertex Company announced their merger in March 2022, and in July, the transaction closed, creating V2X, a new government services provider with an estimated pro forma annual revenue of $3.4 billion. Chuck Prow, who previously served as CEO of Vectrus for over five years, was tapped to lead the new enterprise.
The company’s first financial report after the merger showed $498 million in sales for the second quarter of 2022, and Prow said much of this growth was “driven by building on the momentum of programs in INDOPACOM and Europe, along with successful phase-in of new contracts, including the Logistics Readiness Center at Fort Benning.”
Under Prow’s leadership, V2X’s revenue jumped to $958 million in the third quarter, and the company’s pro forma revenue rose 10 percent year-over-year to $961 million.
Prow noted that at the end of Q3, V2X had a combined backlog of $12 billion — a figure 3.5 times more than the pro forma revenue originally projected at the merger’s announcement, accomplished over a time span of less than six months.
“With limited recompetes and solid revenue visibility, V2X is focusing on capturing new opportunities and contract expansion,” Prow said of the company’s strategy going into 2023 and beyond.
In addition to its rapidly growing revenue, V2X also has an expanding workforce. The business combination has given V2X over 14,000 subcontractors and 5,000 to 6,000 subcontractors deployed in more than 25 countries.
While V2X further establishes its presence in the GovCon industry, Prow said the company is rising up the ranks in an emerging, technology-driven segment of the marketplace focused on operations.
“This combination has created a leader in the operational segment of the broader federal services marketplace,” he said of the new enterprise in a video interview with Executive Mosaic.
“From a business perspective, we are a very different company together than either of the two predecessor companies were. We have the scale, we have the reach, we have the capabilities to touch a much broader set of clients and a much different set of missions that we can support,” Prow added.
As Prow and V2X look toward the future, the convergence of physical and digital infrastructures across the federal landscape is unlocking new innovation opportunities for the company.
V2X has a “deep presence” in the synthetic training market according to Prow, and he anticipates the business segment to see continued growth as demand increases and technology advances.
“There’s a great deal of integration, a great deal of efficiencies, a great deal of improved outcomes that are going to happen by this combination of technology and the physical process,” Prow noted.
With its strong revenue pipeline and new possibilities unlocked by its merger last year, V2X has proven itself to be a company to watch in 2023, and with Prow at the helm, the GovCon industry can look forward to continued growth and innovation from V2X in the coming years.
Executive Mosaic extends its sincere thanks and congratulations to Chuck Prow and the entire V2X team for their 2023 Wash100 win.