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Karman Space & Defense (KRMN) specializes in the design, testing, manufacturing, and sale of mission-critical systems for missile, defense, and space programs. The company provides integrated solutions for payload protection, propulsion, and interstage systems, supporting Department of Defense and space sector initiatives. KRMN leverages a vertically integrated business model to deliver highly engineered solutions across diverse end markets.
- Hypersonics & Strategic Missile Defense - Develops advanced systems for hypersonic vehicles and strategic missile defense applications, ensuring mission-critical performance and reliability.
- Missile & Integrated Defense Systems - Provides comprehensive solutions for missile systems and integrated defense platforms, enhancing operational capabilities.
- Space & Launch - Offers payload protection, propulsion, and interstage systems for spacecraft and launch vehicles, supporting space exploration and deployment missions.
| Name | Position | External Roles | Short Bio | |
|---|---|---|---|---|
Jonathan Beaudoin Executive | Chief Operating Officer (COO) | Jonathan Beaudoin is the Chief Operating Officer (COO) of KRMN since July 2024, overseeing business operations and engineering. He previously held leadership roles at KRMN including Regional President, Vice President of Engineering, Director of Missiles and Space Systems, and Engineering IPT Lead, and he worked as a Stress Analyst at Boeing from 2006 to 2008. | ||
Mike Willis Executive | Chief Financial Officer (CFO) | Mike Willis has served as the Chief Financial Officer (CFO) of KRMN since November 2022, where he oversees the company’s financial operations and reporting. He has not held any board or committee memberships or additional roles at KRMN. | ||
Steven Gitlin Executive | Vice President, Investor Relations | Steven Gitlin is the Vice President, Investor Relations at Karman Space & Defense Inc. There is no additional information available regarding his career history or key contributions. | ||
Tony Koblinski Executive | Chief Executive Officer | Tony Koblinski is the Chief Executive Officer of Karman Missile & Space Systems (KRMN) since July 1, 2021. Previously, he served as President and CEO of Madison-Kipp Corporation from September 2011 to November 2020. | View Report → | |
Brian Raduenz Board | Director Nominee | CEO of AEVEX Aerospace | Brian Raduenz has been serving as a Director Nominee at KRMN since February 12, 2025, where he also chairs the Audit Committee and sits on the Compensation Committee. He is also the current CEO of AEVEX Aerospace since 2018, with extensive experience in aerospace, defense, and military applications. | |
David Stinnett Board | Director | Partner at Trive Capital ; Board member at Vitesse Systems ; Board member at Robinson Helicopter ; Board member at Accelint ; Board member at Field Aerospace ; Board member at Hera Technologies ; Board member at Kittyhawk | David Stinnett has served as a Director at KRMN since February 12, 2025. He also chairs the Nominating and Governance Committee and is a member of the Compensation Committee, while being designated as a Trive Capital nominee. | |
John Hamilton Board | Board Director | John Hamilton serves as a Board Director at KRMN after his appointment on February 12, 2025. He holds memberships on the Audit, Compensation, and Nominating and Governance Committees. | ||
Matthew Alty Board | Director | CEO of Vitesse Systems | Matthew Alty has served as a Director at KRMN since February 12, 2025 and is a member of the Nominating and Governance Committee. He has extensive executive experience, including his current role as CEO at Vitesse Systems. | |
Stephen Twitty Board | Director Nominee | President of Twitty and Associates LLC; Senior Executive Lead for U.S. training operations at Valiant Integrated Services; Board Director at Weibel Scientific; Board Director at Meroxa, Inc. | Stephen Twitty is a retired Lieutenant General with 40 years of distinguished military service who founded Twitty and Associates LLC in 2020 and has held several key board roles. At KRMN, he serves as a Director Nominee and will later join the Audit Committee upon the consummation of the offering. |
Notable M&A activity and strategic investments in the past 3 years.
| Company | Year | Details |
|---|---|---|
Metal Technology Inc. (MTI) | 2025 | Acquired for $90 million in cash on April 4, 2025. The deal enhances Karman Space & Defense’s capabilities with MTI’s refractory metal alloy systems and advanced manufacturing methods, supporting critical next-generation missile programs and classified defense initiatives. |
Wolcott Design Services, dba Rapid Machining Services (RMS) | 2024 | Acquired for approximately $26.5 million in cash with funding from a term note increase of $35 million. The acquisition by TCFIII Spaceco Holdings, LLC adds key machining capabilities and is in the process of finalizing purchase allocation by the end of 2024. |
Recent press releases and 8-K filings for KRMN.
- Fiscal Year 2024 results: Record revenue of $345.3 million, net income of $12.7 million, and adjusted EBITDA of $106.1 million with a funded backlog of $579.8 million
- 2025 guidance: Expected revenue between $423M and $433M, adjusted EBITDA of $132M to $137M, and a $600M funded backlog
- Successfully refinanced with a $300M Term Loan B (maturing April 2032) and a $50M Revolving Credit Facility (expiring April 2030) to support growth and strategic acquisitions
- Refinancing expected to save over $8M annually by lowering rates through a reduction of 275 basis points on the Term Loan
- Completed a $581.9M IPO in 2025, raising approximately $173.2M in net proceeds
- Executed the strategic MTI acquisition to expand design and manufacturing capabilities in high-growth markets
- IPO Announcement on February 12, 2025: Karman Holdings Inc. announced the pricing of its IPO, offering 23,000,000 shares at $22.00 per share.
- Offering Breakdown: The IPO includes 8,421,053 shares offered by the company and 14,578,947 shares sold by existing stockholders.
- Underwriters’ Option: Underwriters were granted a 30-day option to purchase up to 3,450,000 additional shares, which was exercised on February 13, 2025.
- NYSE Listing and Closing: Shares are expected to begin trading on the NYSE under the ticker KRMN on February 13, 2025, with the offering closing on February 14, 2025.