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Formation and Nature of Business Operations
12 Months Ended
Dec. 31, 2024
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Formation and Nature of Business Operations
1.
Formation and Nature of Business Operations

TCFIII Spaceco Holdings, LLC (the “Company”) conducts business through its wholly owned subsidiary, Karman Space and Defense (“Karman”). The Company is primarily owned by certain investment funds, with minority ownership held by certain former owners and employees of its subsidiaries. Karman was incorporated in Delaware in August 2020 for the purpose of acquiring and operating companies providing contract manufacturing services to the aerospace and defense industries. Karman is headquartered in Dallas, Texas. It currently operates five subsidiaries in Brea, El Monte, Huntington Beach, California, Mukilteo, Washington and Wilsonville, Oregon. The Company previously operated a subsidiary in Santa Ana, which was merged into AEC in 2022.

Karman specializes in the upfront design, testing, manufacturing, and sale of mission-critical systems for existing and emerging missile and defense, and space programs. Karman’s integrated payload protection, propulsion, and interstage system solutions are deployed across a wide variety of existing and emerging programs supporting important Department of Defense (“DoD”) and space sector initiatives.

Karman’s five wholly-owned subsidiaries are:

1.
Aerospace Engineering, LLC (AEC), a limited liability company, purchased August 28, 2020
2.
AMRO Fabricating Corporation (AMRO), a C-corporation, purchased October 28, 2020
3.
American Automated Engineering, Inc. (AAE), a C-corporation, purchased December 21, 2020
4.
Systima Technologies, Inc. (Systima), a C-corporation, purchased September 14, 2021
5.
Rapid Machine Solutions – Wolcott Design Services, LLC (RMS), a limited liability company, purchased February 16, 2024

Initial Public Offering

On February 12, 2025 the Company’s Registration Statement on Form S-1 for its initial public offering (the “IPO”) was declared effective, see Note 16, Subsequent Events for additional information on the IPO. The Company operates as Karman Holdings Inc., a Delaware corporation. Prior to the effectiveness of this offering, the Company was a Delaware limited liability company named TCFIII Spaceco Holdings LLC. On February 12, 2025, the Company converted into a Delaware corporation and changed the name to Karman Holdings Inc. Pursuant to the conversion, all outstanding equity interests were reclassified into shares of common stock of Karman Holdings Inc.