Proteus Enterprises Acquires Ricardo Defense Inc., Leading System Integrator for US Army Systems
Proteus Enterprises has announced the acquisition of Ricardo Defense Inc., a leading system integrator for US Army vehicle and logistics programs, in partnership with Gladstone Investment (NASDAQ: GAIN). Ricardo Defense, headquartered in Troy, MI, with operations across multiple states and overseas, is known for developing engineering and product solutions for US Army programs, including the ABS/ESC system for the HMMWV.
The acquisition brings US ownership and access to capital to Ricardo Defense, which has shown significant growth through developing new capabilities and customer relationships over the past decade. Pete Roney, Proteus co-founder, will serve as the incoming CEO of Ricardo Defense. The transaction's financial terms were not disclosed.
Proteus Enterprises ha annunciato l'acquisizione di Ricardo Defense Inc., un importante integratore di sistemi per i programmi di veicoli e logistica dell'Esercito degli Stati Uniti, in collaborazione con Gladstone Investment (NASDAQ: GAIN). Ricardo Defense, con sede a Troy, MI, e operante in diversi stati e all'estero, è conosciuta per lo sviluppo di soluzioni ingegneristiche e di prodotto per i programmi dell'Esercito degli Stati Uniti, incluso il sistema ABS/ESC per l'HMMWV.
L'acquisizione porta proprietà americana e accesso al capitale a Ricardo Defense, che ha mostrato una crescita significativa sviluppando nuove capacità e relazioni con i clienti nell'ultimo decennio. Pete Roney, co-fondatore di Proteus, sarà il nuovo CEO di Ricardo Defense. I termini finanziari della transazione non sono stati divulgati.
Proteus Enterprises ha anunciado la adquisición de Ricardo Defense Inc., un destacado integrador de sistemas para los programas de vehículos y logística del Ejército de EE. UU., en asociación con Gladstone Investment (NASDAQ: GAIN). Ricardo Defense, con sede en Troy, MI, y con operaciones en múltiples estados y en el extranjero, es conocida por desarrollar soluciones de ingeniería y productos para los programas del Ejército de EE. UU., incluido el sistema ABS/ESC para el HMMWV.
La adquisición aporta propiedad estadounidense y acceso a capital a Ricardo Defense, que ha mostrado un crecimiento significativo a través del desarrollo de nuevas capacidades y relaciones con los clientes en la última década. Pete Roney, cofundador de Proteus, será el nuevo CEO de Ricardo Defense. Los términos financieros de la transacción no fueron divulgados.
Proteus Enterprises는 Gladstone Investment (NASDAQ: GAIN)와 협력하여 미국 육군 차량 및 물류 프로그램을 위한 주요 시스템 통합업체인 Ricardo Defense Inc.의 인수를 발표했습니다. 미시간주 트로이에 본사를 두고 여러 주 및 해외에서 운영되는 Ricardo Defense는 HMMWV용 ABS/ESC 시스템을 포함하여 미국 육군 프로그램을 위한 엔지니어링 및 제품 솔루션 개발로 잘 알려져 있습니다.
이번 인수로 미국 소유권과 자본 접근성이 Ricardo Defense에 제공되며, 지난 10년간 새로운 역량과 고객 관계를 개발해온 것으로 큰 성장을 보여주었습니다. Proteus의 공동 창립자인 Pete Roney가 Ricardo Defense의 새 CEO를 맡게 됩니다. 거래의 재무 조건은 공개되지 않았습니다.
Proteus Enterprises a annoncé l'acquisition de Ricardo Defense Inc., un intégrateur de systèmes de premier plan pour les programmes de véhicules et de logistique de l'Armée américaine, en partenariat avec Gladstone Investment (NASDAQ: GAIN). Ricardo Defense, dont le siège est à Troy, MI, et ayant des opérations dans plusieurs États et à l'étranger, est connue pour le développement de solutions d'ingénierie et de produits pour les programmes de l'Armée américaine, y compris le système ABS/ESC pour le HMMWV.
Cette acquisition apporte une propriété américaine et un accès au capital à Ricardo Defense, qui a montré une croissance significative en développant de nouvelles capacités et relations avec les clients au cours de la dernière décennie. Pete Roney, cofondateur de Proteus, sera le nouveau PDG de Ricardo Defense. Les conditions financières de la transaction n'ont pas été divulguées.
Proteus Enterprises hat die Übernahme von Ricardo Defense Inc. bekannt gegeben, einem führenden Systemintegrator für die Fahrzeuge- und Logistikprogramme der US-Armee, in Partnerschaft mit Gladstone Investment (NASDAQ: GAIN). Ricardo Defense mit Hauptsitz in Troy, MI, und Niederlassungen in mehreren Bundesstaaten und im Ausland ist bekannt für die Entwicklung von Ingenieur- und Produktlösungen für die Programme der US-Armee, einschließlich des ABS/ESC-Systems für den HMMWV.
Die Übernahme bringt US-Eigentum und Zugang zu Kapital für Ricardo Defense, das in den letzten zehn Jahren durch die Entwicklung neuer Fähigkeiten und Kundenbeziehungen erheblich gewachsen ist. Pete Roney, Mitgründer von Proteus, wird der kommende CEO von Ricardo Defense. Die finanziellen Bedingungen der Transaktion wurden nicht bekannt gegeben.
- Strategic acquisition expands presence in US defense sector
- Access to additional capital for growth and expansion
- Established track record with US Army and DoD customers
- Geographic diversification with operations across multiple states and overseas
- Proven product portfolio including ABS/ESC system for HMMWV
- Financial terms and transaction value not disclosed
- Integration risks between companies
Insights
This acquisition is particularly strategic in the defense sector. Ricardo Defense's expertise in US Army vehicle systems, especially their ABS/ESC system for the HMMWV (Humvee), represents a significant capability acquisition for Proteus. The partnership with Gladstone Investment (GAIN) provides important financial backing and validates the deal's potential.
The move brings US ownership to Ricardo Defense, which is particularly important for defense contracts and security clearances. This transition could unlock additional contract opportunities, especially in sensitive military programs where foreign ownership might have been limiting. The deal structure, while undisclosed, likely involves significant earnout components given Ricardo Defense's growth trajectory and existing contracts.
For GAIN investors, this represents a typical investment in their portfolio - a middle-market company with strong cash flows and government contracts providing stability. Defense technology companies typically command premium valuations due to high barriers to entry and sticky customer relationships.
The acquisition's timing aligns with increasing defense modernization initiatives and the military's focus on vehicle safety and performance enhancement systems. Ricardo Defense's ABS/ESC system for the HMMWV addresses a critical safety requirement for military vehicles, representing a valuable intellectual property portfolio.
Their multi-state presence (Michigan, California, Texas, Alabama) and international operations indicate a robust operational infrastructure. The retention of current management and addition of Proteus's leadership suggests a growth-focused integration strategy rather than a cost-cutting approach. This positions the combined entity to compete more effectively for larger defense programs.
The involvement of top-tier advisors (Holland & Knight, Squire Patton Boggs, Houlihan Lokey) suggests a complex transaction structure, likely involving significant regulatory considerations given the sensitive nature of defense contracts.
Headquartered in
Pierre Chao and Greg Bowie, Proteus co-founders, said, "The Ricardo Defense team has done a remarkable job providing innovative technical and product solutions for US Army and DoD customers. Ricardo Defense's experienced leadership team has grown the Company significantly to date by developing new capabilities and customer relationships, including the ABS/ESC system for the HMMWV. In bringing US ownership and access to capital, we look forward to partnering with management to grow the company while building a business focused on solving the defense customer's most challenging problems."
Ricardo President, Chet Gryzcan stated, "I am proud of our employees and what our team has built over the last 10 years, and we are excited to expand upon our success as we partner with Proteus. We felt an immediate synergy with the Proteus team, and we look forward to leveraging Proteus's knowledge and expertise as an experienced government services and technology investor to expand our capabilities and continue delivering solutions that enhance warfighter effectiveness."
Pete Roney, Proteus co-founder and incoming CEO of Ricardo Defense added, "We are beyond excited to join the Ricardo Defense team in providing mission critical services and solutions to our Nation's military services. I am looking forward to working with Ricardo Defense's exceptional team to help position the business for continued growth and greater scale in the future."
About Proteus Enterprises
Proteus Enterprises is a
About Ricardo Defense, Inc.
Ricardo Defense, Inc., headquartered in
About Gladstone Investment Corporation
Gladstone Investment is a publicly traded business development company that seeks to make equity and secured debt investments in lower middle market businesses in connection with acquisitions, changes in control, and recapitalizations Corporation (NASDAQ: GAIN). Additional information on the transaction can be found at www.gladstoneinvestment.com.
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SOURCE Proteus Capital Solutions
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