Target Hospitality Secures Spot On $4B DHS Emergency Detention Contract Vehicle

(RTTNews) - Target Hospitality Corp. (TH), a major provider of modular accommodations and hospitality services in North America, has been awarded a position on a multi-year Strategic Sourcing Vehicle - SSV worth up to $4.0 billion.

This vehicle will support the U.S. Department of Homeland Security - DHS and Immigration and Customs Enforcement - ICE in executing Executive Orders issued on January 20, 2025, specifically focusing on emergency detention and related facility services. The contract spans through May 16, 2027.

The award enables Target to compete for future contracts aligned with key government immigration priorities. The company believes its capabilities are well-matched with DHS and ICE objectives under the SSV, opening doors to expand its services and grow beyond its current asset base.

Brad Archer, Target's President and CEO, emphasized that the award significantly increases the company's growth opportunities, aligning with U.S. government efforts to implement immigration policies. He noted that while Target continues to re-market its existing assets, the SSV enhances its ability to actively pursue new contracts that support critical government services.

Wednesday, TH closed at $7.22, down 0.41%, and is currently trading at $7.21 in after-hours, down another 0.14% on the Nasdaq Capital Market.