Pensacola-based Paradigm Parachute & Defense announced its successful acquisition of ASR-Pioneer assets on 3 April 2024.
The USD 2.25 million (EUR 2.08 million) acquisition includes all assets from Airlift Technologies International, Strong Enterprises, and ASR-Pioneer’s Mississippi-based operation. The acquisition totalled three quarters of all assets of ASR-Pioneer.
“This is an exciting time of innovation and growth for Paradigm Parachute & Defense,” Paradigm co-CEO Aaron Nazaruk was quoted as saying in a company press release. “The combined expertise of our four companies allows us to enhance our product range with an expanded portfolio of state-of-the-art defence technologies and personnel and cargo parachute systems, while also driving innovation through shared research and development efforts.”
The strategic acquisition positions Paradigm Parachute & Defense at the forefront of the defence and aerospace parachute industry. Airlift Technologies International is known as the only full original equipment manufacturer globally for the Type V Airdrop Platform System, which is a standard in heavy-duty airdrop platforms used in low-velocity airdrops worldwide. The company holds contracts with the US government that include an indefinite-delivery contract from the Army Materiel Command’s Army Sustainment Command.
Strong Enterprises, meanwhile, is described by Paradigm as “a cornerstone of the personnel and military parachute and safety equipment industry [that] brings a wealth of expertise and technology to the fast-growing Paradigm organisation”.
“We are thrilled to welcome these legacy companies with a history of high-quality, proven systems and cutting-edge innovation to the Paradigm family,” said Paradigm co-CEO Alexander Alvarado. “Our combined teams will expand our support of both legacy and next-generation parachute system development, leading to advanced solutions in aerospace safety and defence.”
