World Stock Watch

Karman Holdings Takes Aim at IPO, Eyes $400 Million Windfall

Defense and Space Systems Manufacturer Files with SEC

Karman Holdings Inc., a leading provider of integrated systems for space and defense programs, has taken a significant step towards going public. Backed by private equity firm Trive Capital, the Huntington Beach, California-based company has filed for an initial public offering (IPO) with the US Securities and Exchange Commission.

Growing Profits and Revenue

Karman, which operates as Karman Space and Defense, has disclosed impressive financials in its filing. For the nine months ended September 30, the company reported net income of $11 million on revenue of $254 million, marking a significant turnaround from its net loss of $342,182 on revenue of $203.7 million during the same period last year.

IPO Could Raise Up to $500 Million

According to reports, the IPO could raise between $400 million and $500 million, valuing the company at around $3 billion or more. This would be a significant milestone for Karman, which has been exploring options for growth, including a sale or IPO, with the support of Trive Capital.

Specialized Systems for Defense and Space

Karman specializes in the design, testing, manufacturing, and sale of systems for missile and defense and space programs. With a workforce of around 1,100 employees across locations in California, Oregon, Washington state, and Alabama, the company is well-positioned to capitalize on growing demand for its products and services.

Trive Capital to Retain Majority Shareholder Voting Power

After the IPO, affiliates of Trive Capital will continue to hold the majority of shareholder voting power. The private equity firm, based in Dallas, has more than $7 billion of regulatory assets under management and has been instrumental in supporting Karman’s growth.

IPO Led by Citigroup and Evercore

The offering is being led by Citigroup Inc. and Evercore Inc., with plans for Karman’s shares to trade on the New York Stock Exchange under the symbol KRMN. As the company prepares to go public, it is poised to take advantage of growing opportunities in the defense and space sectors.