newsfilter
← Latest News
Business Wire·

Karman Space & Defense Expands into International Market with Agreement to Acquire Glasgow-Headquartered Walker Precision Engineering, a Leading Supplier to the European Missile Industry, for $94 Million

KRMN
  • Karman Space & Defense announced an agreement to acquire Glasgow-headquartered Walker Precision Engineering for approximately $94 million or £70 million.
  • The acquisition aligns with Karman's strategy to serve U.S. & allied national security priorities from deep sea to deep space.
  • Walker brings unique integrated manufacturing capabilities including engineering, advanced materials design, precision machining, electroplating, & electromechanical assemblies.
  • Walker's products currently support missile seekers, guidance systems, & control systems for over 25 EU tactical missile, air, & defense programs.
  • The deal accelerates Karman's expansion beyond the United States by adding a European footprint to its existing 17 locations across eight U.S. states.
  • Karman CEO Jon Rambeau stated the acquisition will increase the addressable market through Walker's strong missile & aviation capabilities & relationships with European primes.
  • Walker CEO George Adams noted the transaction marks a new chapter to build on eight years of investment in people, facilities, & capabilities since 1979.
  • The transaction is expected to close during the third quarter of Karman's fiscal year 2026, subject to customary closing conditions & regulatory approvals.
  • Upon closing, Karman expects the acquisition to expand access to current & next-generation European & allied nation missile programs.
  • The acquisition is expected to be immediately accretive to Karman revenue, backlog, adjusted EBITDA, adjusted earnings per share, & cash flow.
  • Kroll acted as the exclusive sell-side advisor to Walker Precision Engineering & its shareholders.