Author: Nichols Martin|| Date Published: November 18, 2021
Castellum has acquired Albers Group assets that are located Naval Air Station Patuxent River in Maryland to provide further support for U.S. Navy and Marine Corps programs.
The deal sought to expand the Pax River market presence of Specialty Systems Inc., which Castellum purchased in August and now operates as its SSI subsidiary, the company said Wednesday.
Mark Fuller, president and CEO of Castellum, said the transaction is projected to raise the company’s annualized revenue run-rate to more than $35 million.
The Bethesda, Maryland-based defense technology provider expects the purchase to bring in $2 million in annual revenue and grow its industry connections for the naval base.
Glen Ives, a retired Navy captain and former commanding officer of Pax River, oversees Castellum’s Navy and Marine Corps division.
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