Mark Fuller: Castellum Identifies Next GovCon Acquisition Target

Castellum (NYSE: CTM) has signed a letter of intent to purchase an East Coast government contractor with $10 million in estimated annual revenue.

“This transaction, should we be able to close it, would give us over a $54 million revenue run-rate and expand our scale and capabilities to serve our government clients,” Mark Fuller, president and CEO of Castellum, said in a statement released Monday.

The LOI is still subject to a period of due diligence and the execution of a definitive purchase agreement.

Bethesda, Maryland-based Castellum, which completed its uplisting to the New York Stock Exchange on Oct 13, is aiming to acquire the unnamed GovCon entity by the end of January for its seventh acquisition move.

The company acquired Lexington Solutions Group in April to expand information operations area capabilities and reported $11.1 million in fiscal year 2022 third quarter sales.

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