Karman acquires Five Axis Industries for $83M in cash, $5M of stock

Karman (KRMN) announced it has acquired Five Axis Industries for $83M in cash and approximately $5M of Karman common shares. The transaction closed on October 28. “We are thrilled to add Five Axis to the Karman family,” said Tony Koblinski, chief executive officer of Karman Space & Defense. “This acquisition strengthens our core competency in the engineering and manufacturing of mission-critical subsystems for the space market. Five Axis is a unique asset within the space supply chain whose proven expertise and successful track record in proprietary engine products is a natural extension of the Karman platform. Their customer and program relationships create compelling opportunities to accelerate our growth and create shareholder value.”