Defense company Mach Industries said today it had purchased aerospace and defense company Exquadrum of Victorville. The Wall Street Journal reported that the purchase price is $50 million.
“Bringing Exquadrum’s propulsion expertise into Mach gives us direct control over one of the most critical elements of unmanned systems performance,” said Ethan Thornton, CEO and Founder of Mach Industries. “This is a key milestone in Mach’s journey, one that strengthens our manufacturing stack and, in turn, strengthens the American edge for the next-generation of defense.”
The Wall Street Journal said the $50 million is a cash-and-equity deal.
For further details see the May 25 edition of the Business Journal.
