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Karman Holdings, the corporate shell for U.S. defense technology upstart Karman Space & Defense, announced on the first day of the Farnborough Airshow that it was expanding into Europe by buying Glasgow, Scotland-headquartered Walker Precision Engineering for about $94 million.
Walker supports missile seekers, guidance systems and control systems on more than 25 European Union tactical missile, air and defense programs for prime contractors, the July 20 announcement said.
“We expect that Walker’s strong missile- and aviation-related capabilities and programmatic relationships with the largest European space and defense prime contractors will increase our addressable market and create new opportunities for development, cross-selling and export across our enterprise,” Karman CEO Jon Rambeau said.
Walker was founded in 1979 and has “unique, integrated manufacturing capabilities” that span engineering, advanced materials design, precision machining, electroplating and electromechanical assemblies, Karman said. Besides Scotland, the company has facilities in England and Poland, all of which will complement Karman’s 17 U.S. sites.
The deal is expected to be quickly accretive for Karman after it closes, which is expected in the third quarter of fiscal 2026, assuming customary closing conditions and regulatory approvals are achieved. Karman representatives also said they expect to pursue work on more European and allied programs.
Analysts at RBC Capital Markets said the acquisition makes sense. “We believe the outlook for European defense is strong, and we believe Karman’s expansion into European and other allied nations’ missile programs should support a continued strong organic growth outlook,” Ken Herbert and Kevin Liu wrote in an investor note after the announcement. “We believe the acquisition could create new opportunities for development, cross-selling and export across Karman, and we also believe the continued focus on missile and missile defense within the portfolio is a positive.”
Karman has been on a growth spurt all year. Walker is the second acquisition it has announced in 2026 after the acquisition of Seemann + MSC into shipbuilding/defense maritime. In March, Karman changed CEOs, bringing in Rambeau, a legacy prime veteran, in a move that had been expected but was still surprising.
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