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Rheinmetall To Acquire Military Vehicle Supplier Loc Performance, Adding U.S. Production Capacity

Cal Biesecker By
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Rheinmetall To Acquire Military Vehicle Supplier Loc Performance, Adding U.S. Production Capacity
Mockup of American Rheinmetall's Lynx concept for the Army's Optionally Manned Fighting Vehicle program at the 2022 AUSA conference in Washington, D.C. Photo: Matthew Beinart.

Germany defense contractor Rheinmetall on Tuesday said it has agreed to acquire Michigan-based Loc Performance Products, a supplier of components and technologies used on military vehicles, a deal that will expand the company’s presence, employee base, and production capacity in the U.S. amid competition for two Army programs estimated to potentially be worth a combined $60 billion. Rheinmetall said the deal values Loc Performance at an enterprise value of $950 million. The transaction is subject to regulatory approval. Rheinmetall, which…

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