Karman Space & Defense (Karman) has signed a cash and stock deal worth $220m to acquire specialty maritime defence technologies providers Seemann Composites and Materials Sciences Corporation (MSC).
The consideration is made up of $210m in cash and approximately $10m in Karman common shares, listed on the New York Stock Exchange (NYSE).
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Headquartered in Gulfport, Mississippi, Seemann Composites designs and makes composite products for military use, mainly for naval underwater and surface systems.
In 2018, the company bought MSC after working together for over 20 years to create composite solutions for US military platforms. MSC is headquartered in Horsham, Pennsylvania.
Together, they have continued to develop and provide new materials and products for the US military.
Both Seemann and MSC provide core technologies for submarines and related amphibious platforms.
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By GlobalDataTheir offerings include sonar, acoustic and signal mitigation solutions, subsea and surface propulsion systems, as well as missile and amphibious strategic launch products.
Both companies have delivered technologies and systems to the US Navy over several decades, participating in programmes such as Columbia, Virginia, and Seawolf class submarines.
Upon closing, Seemann and MSC will become wholly owned subsidiaries of Karman.
Key executives from both companies are set to remain in leadership roles following the acquisition.
Seemann and MSC maintain approximately 240,000ft2 of manufacturing space to help them meet sustained demand for new submarines, fleet sustainment, and emerging uncrewed platforms.
Karman anticipates that this acquisition will provide access to high priority, long-term funded US Navy programmes.
The company expects the transaction to be immediately accretive to its 2026 revenue growth, funded backlog, and earnings per share among others.
Karman CEO Tony Koblinski said: “Entering the strategic maritime defense market, which is a critical element of near-peer nation state deterrence, has been on our strategic roadmap for years.
“The acquisitions of Seemann and MSC represent the natural expansion of the Karman platform into a compelling new market that is poised for decades of sustained growth. With a proven track record of performance, deep expertise in advanced materials, and differentiated manufacturing capabilities, these innovative companies are a natural fit with Karman.”
The transaction remains subject to standard closing conditions and regulatory approval, with completion expected during the first quarter of Karman’s fiscal year 2026.
