September 21, 2021

Karman Expands Capacity with TMX Acquisition

DALLAS, TEXAS and LOS ANGELES, CALIFORNIA

The senior leadership team of TMX Engineering (“TMX”) has partnered with Karman Missile & Space Systems (“Karman” or the “Company”) backed by Trive Capital (“Trive”), the Dallas-based private equity firm. The addition of TMX enables Karman to deliver more comprehensive solutions to its customers in the space, missile, and hypersonic markets. The senior leadership team of TMX will continue as equity holders at Karman.

TMX brings a complementary set of capabilities to the Karman team with focus on complex precision machining of exotic and non-exotic metals to produce sophisticated components and assemblies used on many of the most critical missiles, space systems, and hypersonic systems in the world. This expands Karman’s ability to deliver more turn-key solutions to its customers by integrating TMX’s metallic parts into other metallic and composite assemblies being produced by other Karman divisions. This integrated solution is critical to accelerating the typical procurement process timeline our customers are facing when acquiring complex hardware and assemblies for existing and next-generation missile, space, and hypersonic platforms. TMX brings an impressive and complementary set of blue-chip customers and is a qualified supplier on a significant number of overlapping programs and platforms as other Karman divisions.

“We are excited to join the Karman team and work collaboratively on systems where Karman can deliver a fully comprehensive solution, while reducing lead times, improving quality, and simplifying supply chain management for our customers. We were extremely impressed with the Karman thesis of bringing together best in class critical missile, space, and hypersonic system suppliers to help solve the problem our customers have with the current highly fragmented supply chain. The progress that has been made over the past year in combining such industry-leading businesses who already have decades of pedigree in the space, missile, and hypersonic markets is nothing short of incredible. We are thrilled to have the opportunity to join such an unbelievably capable team and begin adding value.” commented Eric Clack, President and former owner of TMX.

“The partnership with TMX marks another major milestone in the Karman progression,” said Tony Koblinski, Chief Executive Officer of Karman. “Complex, multi-step parts for missile, space, and hypersonic systems that combine several differentiated disciplines is exactly what we want to double-down on as a Company to deliver the most value to our customers.”

David Stinnett, Partner at Trive, stated “TMX is an important addition to the Karman platform. TMX is already addressing content with a significant amount of Karman overlap and we know we are just scratching the surface. As the volumes increase on next generation platforms driven by the proliferation of the space economy and renewed national defense focus on our near-peer threats, OEMs need scalable supply chain solutions that can meaningfully grow capacity while streamlining the procurement process. Eric and his team are a great addition to the capabilities, capacity, and culture of the Karman organization.”

D.A. Davidson advised Karman on the acquisition.

About Karman

Karman Missile & Space Systems (www.karmanmss.com) is one of the largest independently owned suppliers of mission critical flight hardware and complex sub-assemblies to the space, missile, and hypersonic markets. The Company provides design & engineering, precision machining, large part forming, high temperature and structural composite material processing, and sub-assembly services, while actively adding new capabilities in collaboration with customers.


About Trive

Trive Capital is a Dallas, Texas based private equity firm with more than $7 billion of regulatory assets under management. Trive focuses on investing equity and debt in what it sees as strategically viable middle-market companies with the potential for transformational upside through operational improvement. We seek to maximize returns through a hands-on partnership that calls for identifying and implementing value creation ideas.

The Trive team is comprised of seasoned investment professionals who have been involved in over 100 middle-market transactions representing in excess of $6 billion in revenue across Trive’s targeted industry sectors and situations.

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