Castellum Buys Government Tech Services Contractor SSI; Mark Fuller Quoted

Castellum has purchased Specialty Systems Inc., a government contractor headquartered in Toms River, New Jersey, for an undisclosed sum.

SSI, which was founded by CEO Emil Kaunitz in 1978, supports the U.S. Navy at Joint Base McGuire-Dix-Lakehurst in New Jersey in software engineering, program support, cybersecurity, network and systems engineering areas, Castellum said Monday.

“This acquisition is immediately accretive to both revenue and EBITDA per share and, along with our recently announced Merrison Technology transaction, establishes a $33 million dollar annualized revenue run rate for our company that takes us to another level in competing for larger government contracts,” said Mark Fuller, president and CEO of Castellum.

Approximately 90 SSI employees will join Castellum as a result of the transaction.

Kaunitz, SSI Chief Operating Officer Bill Cabey and other members of SSI’s leadership team will continue to serve in their current roles as part of Castellum.

Defense technology company Castellum posted $4.19 million in revenue during the second quarter of 2021 with cash on hand of over $2 million, $4.58 million in current assets and $3.19 million in net working capital.

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