Gladstone Investment Corporation partnered with Proteus Enterprises to acquire Ricardo Defense, Inc. Ricardo Defense, headquartered in Troy, MI, specializes in engineering and product solutions for US Army vehicle and logistics programs, including the ABS/ESC system for the HMMWV.
As of January 2025, Ricardo Defense employs approximately 240 individuals, with operations in California, Texas, Alabama, and overseas.
This acquisition expands GAIN's investment portfolio into the defense sector, aligning with its strategy of investing in established private businesses.
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