Akima has completed their acquisition of Pinnacle Solutions, Inc. Pinnacle provides training and sustainment products and services to global defense customers.
The acquisition expands Akima’s aviation and training capabilities in the defense market and will further enable the company to provide significant value to our customers in the demanding aerospace industry. Pinnacle was founded in 2008 and is headquartered in Huntsville, AL. Pinnacle brings 500 employees and will operate as a wholly owned subsidiary of Akima, with Tina Tucker retaining her role as president of the company.
“The closing of this transaction represents the beginning of a new chapter for Pinnacle, and we are excited for what the future holds,” said Tucker. “We believe our deep expertise, network, and strong market position will help accelerate Akima’s growth and drive greater value for its customers and employees.”
Pinnacle was recently awarded a seat on the U.S. Air Force $32.5 billion Training Systems Acquisition IV IDIQ contract. Under this multi-award contract, Pinnacle will have the opportunity to provide for the analysis, design, development, production, installation, integration, testing, and sustainment of Air Force training systems.
Layoffs: Smith & Wesson
Smith & Wesson plans to close their Connecticut factory. The firearms manufacturer will begin laying off 129 employees beginning in August. Plans to close the plant were announced back in 2021, with no timeline originally set. Layoffs will be completed by the end of 2024.
Hiring: Aerojet Rocketdyne
Aerojet Rocketdyne produces propulsion systems for weapons, and they have plans to expand in south Arkansas. According to Aerojet Rocketdyne Senior Director Chandra Hooker, the company will be adding jobs in their Camden location. While the organization hasn’t formally specified a hiring number, an article from a recent panel discussion at the Rotary Club of Little Rock noted about 200 jobs to be added due to a large DoD contract.
Cleared Employer at Work: ClearanceJobs
Opportunity to Watch
Lockheed Martin is working with three small businesses to strengthen the defense industrial base through its Next Generation Interceptor (NGI) program. This is part of the Department of Defense (DoD) Mentor-Protégé Program, which encourages prime contractors to serve as mentors in developing the technical and business capabilities of small businesses.
Through the program, the Missile Defense Agency awarded Lockheed Martin three contracts that will run up to two years. Lockheed Martin will work with Marotta Controls, Space Information Labs (SIL), and Valley Tech Systems (VTS) to support the maturation of advanced engineering and technology capabilities, such as model-based engineering and the digital thread. Being a part of the program provides them with insights about how to grow their businesses.
Lockheed Martin is working with these businesses already as subcontractors to develop, mature, and field hardware in support of the NGI program from advanced technologies cultivated through the DoD’s Small Business Innovation Research (SBIR) and Small Business Technology Transfer (STTR) Programs.
NGI will be part of the current Ground-based Midcourse Defense (GMD) Weapon System, which protects the U.S. homeland against intercontinental ballistic missile threats from rogue nations. Lockheed Martin’s NGI program has assembled a strategic, agile, and innovative team, including small businesses, to provide MDA with this critical national security capability.
