Karman Space & Defense has agreed to acquire Glasgow-based Walker Precision Engineering for approximately $94 million, or £70 million. The transaction will establish Karman’s first operating presence outside the United States and expand its capabilities within the European missile, aerospace and defense markets.
Walker provides integrated engineering and manufacturing services spanning advanced materials, precision machining, electroplating and electromechanical assemblies. Its products support missile seekers, guidance systems and control systems used across more than 25 European tactical missile, air and defense programs.
Missile seekers identify and track targets, while guidance and control systems direct a missile toward its intended destination. These components require highly precise manufacturing because their reliability can directly affect the performance of mission-critical defense systems.
Founded in 1979, Walker has developed longstanding relationships with major global defense contractors. Its vertically integrated operating model allows the company to perform critical manufacturing processes internally rather than depending on multiple outside suppliers.
Karman expects the acquisition to increase its addressable market and provide access to current and next-generation missile programs in Europe and other allied countries. The company also sees opportunities to introduce Walker’s capabilities to its existing customers and offer Karman products through Walker’s European relationships.
Walker’s operations in Scotland, England and Poland will add to Karman’s existing network of 17 locations across eight U.S. states. The international footprint is expected to support cross-selling, technology development and exports across the combined organization.
Karman believes Walker’s intellectual property, manufacturing capabilities and customer relationships complement its existing aerospace and defense platform. The transaction is intended to broaden the solutions available to prime contractors addressing growing demand for missile, space and aviation systems.
Walker has invested in its employees, facilities and technical capabilities over the past eight years. Karman expects those investments and the company’s existing program pipeline to support continued growth after the transaction closes.
The acquisition is expected to be immediately accretive to Karman’s revenue, backlog, adjusted EBITDA, adjusted earnings per share and cash flow. These anticipated benefits remain subject to completion of the transaction and successful integration of Walker’s operations.
The deal is expected to close during the third quarter of Karman’s 2026 fiscal year. Completion remains subject to customary closing conditions and regulatory approvals.
Karman designs and manufactures payload and protection systems, hydro- and aerodynamic interstage systems, and propulsion and launch systems. The company supplies more than 80 prime contractors supporting over 130 space and defense programs.
The acquisition reflects Karman’s broader strategy of investing in capacity and specialized capabilities needed by government and commercial aerospace customers. Walker will provide the company with a platform for expanding beyond the U.S. while strengthening its position in European defense supply chains.
Kroll served as the exclusive sell-side adviser to Walker Precision Engineering and its shareholders.
KEY QUOTES:
“Karman continues to invest in the capacity and capabilities that will help our customers deliver on an unprecedented wave of end market demand. 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.”
“We look forward to welcoming the talented Walker employees in Scotland, England and Poland to the Karman team. By focusing on high priority missions and by delivering strong, consistent performance, Walker has built a robust growth pipeline. We believe that operating as part of Karman will unlock valuable synergies that will broaden that pipeline to maximize long-term prospects for growth.”
Jon Rambeau, CEO of Karman Space & Defense
“Over the past eight years, Walker has invested in our people, facilities and capabilities to become a trusted manufacturing partner to industry leaders across the aerospace, defense and space sectors. Joining Karman marks an exciting new chapter that will allow us to build on those foundations.”
George Adams, CEO of Walker Precision Engineering
