Proteus Enterprises buys Ricardo Defense

Proteus Enterprises, a Maryland-based aerospace, defense and government services holding company, today announced that it acquired Ricardo Defense in partnership with Gladstone Investment Corp.

While financial terms were not disclosed, Pierre Chao and Greg Bowie, Proteus co-founders, said: "The Ricardo Defense team has done a remarkable job providing innovative technical and product solutions for US Army and DOD customers. Ricardo Defense's experienced leadership team has grown the company significantly to date by developing new capabilities and customer relationships, including the ABS/ESC system for the humvee.

"In bringing U.S. ownership and access to capital, we look forward to partnering with management to grow the company while building a business focused on solving the defense customer's most challenging problems," Chao and Bowie continued.