KRMN - Mergers and acquisitions

Seemann Composites ("Seemann") and MSC combine with Karman's existing maritime programs to form Karman's Maritime Defense Systems (MDS) end market, broadening Karman's scope, from deep sea to deep space The transaction significantly expands Karman's exposure to the Department of War's highest priority naval programs, including submarine, USV/UUV and tactical surface vessels, which provides access to accelerated long-term growth and visibility to drive shareholder value The acquisitions are expected to be immediately accretive to Karman in 2026 across major financial metrics, including revenue growth, funded backlog, EBITDA, earnings per share, and cash flow Karman also closed an a

Five Axis is a rapidly growing leader in the engineering and manufacturing of specialized nozzle and fuel systems that play a critical role in optimizing performance of current and next-generation engines for launch vehicles With extensive engineering and manufacturing capabilities, Five Axis is deeply embedded in major space engine programs that serve multiple launch vehicles The acquisition of Five Axis creates new opportunities to solve complex customer challenges via vertical integration by leveraging Karman's advanced spin-forming capability to deliver a proprietary nozzle solution The acquisition adds complementary and highly technical capabilities to the Karman platform, in

ISP is a rapidly growing provider of small-diameter energetic and propulsion technologies, with more than 40 years of flight-proven expertise in the design, testing and manufacturing of tactical boost motors, solid rocket propellant gas generators and other specialty solid propulsion systems With 14 proprietary propellant formulation families and more than 400 motor configurations, the acquisition deepens Karman's core expertise in energetic systems The acquisition is accretive to Karman across all major metrics, including revenue growth, Adjusted EBITDA margin, contracted revenue and cash flow Karman recently increased its existing $300 million Term Loan B by $75 million primaril

MTI is a rapidly growing leader in manufacturing specialized refractory metal alloy systems that play a critical role in optimizing performance in the ultra-high temperature environments of next-generation missile programs The acquisition accelerates access to new, critical and classified strategic missile defense programs that align with current and future U.S. Department of Defense funding priorities MTI is deeply embedded in early development stages of major defense programs with extensive engineering and qualification requirements for refractory metal products involving unique, proprietary manufacturing methods The acquisition adds complementary and highly technical capabilities