Defense Contractor - Jet Engine & Tank Components
Our client is a Northeast based Defense Contractor specializing in components for jet engines and track vehicles. The company has experienced dramatic growth of 442% since 2018. Their growth is the result of seeking out projects that the DoD has traditionally had problems with. They seek to supply a better product and become the sole provider of the part.
In one instance this effort led to the Company successfully winning a contract previously held by another defense contractor whose sales are $20B+ and becoming the sole source. After winning contracts, the Company bids on similar components with great success. The Company has several long-term contracts, which range from 1 to 5 years, many of which have just started and have plenty of runway left. These contracts represent approximately $3.9M in future sales. One sole-source product is used in military vehicles in every branch of the military.
The Company was founded almost four decades ago by a former GE Engineer. The family of the current sole owner bought it from the founder in 2004. The current owner worked in the business when he was very young, then went off to work for large aerospace and defense manufacturers.
During this time, he honed his skills as a sales engineer and sales director. In 2017 he came back into the family business, buying out other shareholders. Since then he has grown the company dramatically and invested over $435K in new equipment acquisitions.
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