Diversified holding company PMGC Holdings Inc. (ELAB) saw its shares climb in premarket trading Wednesday after announcing its latest acquisition — a precision-machining company that serves some of the biggest names in aerospace and defense.
PMGC acquired A&B Aerospace for $4.5 million, marking its fifth acquisition in the past 12 months. The deal adds a California-based manufacturer with deep roots in the industry — A&B was founded in 1948 and is headquartered in Azusa, California.
The company specializes in high-tolerance parts and assemblies for aerospace and defense applications, operating more than 20 CNC machines with full 5-axis machining capabilities. It holds AS9100 and ISO 9001 certifications, which are essentially gold stars for quality in aerospace manufacturing. Its customer list includes Boeing Co. (BA), Honeywell International Inc. (HON), and Moog Inc. (MOG).
For the trailing 12 months ended Feb. 28, 2026, A&B Aerospace generated roughly $5 million in revenue and about $610,000 in management-adjusted EBITDA. So PMGC is paying about 7.4 times that adjusted earnings figure — not a steal, but reasonable for a niche manufacturer with blue-chip customers.
Deal Terms and Strategic Focus
PMGC acquired 100% of A&B Aerospace for a base cash purchase price of $4.5 million. The structure: $4.275 million paid at closing, with a $225,000 indemnification holdback. The transaction is also subject to customary post-closing adjustments tied to cash balance and net working capital targets — standard stuff in M&A.
Jack Badeau, A&B Aerospace's current president, will stay on under an employment agreement. The company will continue operating from its Azusa facility under a lease signed at closing. That continuity matters — A&B's relationships with Boeing and Honeywell didn't happen overnight.
PMGC said the acquisition supports its strategy of building an AS9100D-certified CNC machining platform focused on aerospace, defense, and industrial end markets. The company views A&B as a good fit because of its technical capabilities, long-standing customer relationships, and exposure to U.S. aerospace and defense supply chain demand — a sector that's been getting plenty of attention from policymakers and investors alike.
PMGC Stock Price Movement in Premarket Trading
ELAB Price Action: PMGC Holdings shares were up 10.87% at $2.09 during premarket trading on Wednesday, according to market data.
