AirBoss Completes Merger of Defence Business With Critical Solutions

Canada-based AirBoss has created a new defence business, AirBoss Defense Group (ADG), by merging its old defence business with US company Critical Solutions International (CSI). The previously announced transaction closed on 1 January, AirBoss said on 2 January. AirBoss disclosed in May that it would pursue the combination. About four months later,...

Canada-based AirBoss has created a new defence business, AirBoss Defense Group (ADG), by merging its old defence business with US company Critical Solutions International (CSI).

The previously announced transaction closed on 1 January, AirBoss said on 2 January.

AirBoss disclosed in May that it would pursue the combination. About four months later, AirBoss indicated that the Committee on Foreign Investment in the United States (CFIUS) had approved the merger.

ADG will be 55% owned by AirBoss and 45% by CSI's former holding company.

AirBoss said the transaction combines the "design, development, and production know-how" of its old defence business with CSI's expertise in making route clearance vehicles, servicemember survivability systems, and countermine systems.

Want to read more? For analysis on this article and access to Jane's unrivalled data and insight, learn more about our subscription options at janes.com/products

Source: www.janes.com