PMGC Deepens Manufacturing Push with A&B Aerospace Acquisition

VANCOUVER, British Columbia – May 18, 2026 – PMGC Holdings Inc. (NASDAQ: ELAB), a diversified public holding company, has acquired A&B Aerospace, Inc., a California-based precision manufacturer with deep roots in the U.S. defense and aerospace supply chain. The deal, which closed on May 12, marks PMGC's fifth acquisition in the last twelve months, underscoring an aggressive roll-up strategy aimed at consolidating a fragmented but critical sector of American industry.

Strategic finance and advisory firm GB Capital Ltd. announced today it served as co-advisor to PMGC on the transaction, guiding the acquisition of 100% of the shares of the Azusa-based aerospace company. The move places another key supplier under the umbrella of PMGC’s rapidly expanding precision manufacturing platform, highlighting a broader industry trend toward consolidation driven by supply chain security concerns and renewed demand for domestic production.

A Strategic Roll-Up in High-Value Manufacturing

The acquisition of A&B Aerospace is the latest move in PMGC's deliberate and well-capitalized strategy to build a scaled, multi-site U.S. precision manufacturing platform. The company targets businesses with high technical barriers to entry, mission-critical applications, and entrenched relationships with blue-chip customers. This strategy appears to be accelerating, with the A&B deal following the acquisitions of SVM Machining Inc. in February 2026 and Indarg Engineering, Inc. in late 2025.

PMGC's leadership has identified what it calls “powerful structural tailwinds” for the sector, including a structurally constrained supply of qualified domestic manufacturers and increasing demand for secure, U.S.-based industrial supply chains. By acquiring and integrating established, high-performing shops, PMGC aims to create a vertically integrated platform capable of serving this growing demand.

The company’s financial posture supports this ambitious growth. According to its latest quarterly filings, PMGC’s total assets grew 102% to approximately $26.0 million in the first quarter of 2026, with shareholders' equity increasing by 61%. To fuel its acquisition pipeline, PMGC recently secured a $40 million equity purchase facility with an institutional investor, providing the necessary capital to continue executing its roll-up strategy over the next 24 months.

The Enduring Appeal of Legacy and Precision

At the heart of the transaction is A&B Aerospace, a company that represents the exact profile PMGC seeks. Founded in 1948, A&B brings a 76-year operating history and a sterling reputation for quality and reliability. The company specializes in high-tolerance machining for mission-critical applications, operating more than twenty modern CNC machines with full 5-axis capabilities. This technology allows A&B to maintain tolerances as tight as ±0.0001 inches, a requirement for the demanding components it produces.

Its long-standing customer list includes Tier 1 aerospace and defense giants such as The Boeing Company, Honeywell International Inc., and Moog Inc. These relationships, built over decades, are a significant competitive advantage and a key reason for its attractiveness as an acquisition target. The company holds AS9100D and ISO 9001:2015 certifications, essential quality management standards for any serious player in the aerospace supply chain.

The transaction was valued at a base purchase price of $4.5 million in cash. For the twelve months ending February 28, 2026, A&B Aerospace generated approximately $5.0 million in revenue and $610,000 in management-adjusted EBITDA. As part of the deal, A&B’s current President, Jack Badeau, will remain in his role, ensuring leadership continuity and a smooth transition into the PMGC portfolio.

The Architects Behind the Deal

Facilitating this complex transaction was Vancouver-based GB Capital Ltd., a strategic finance and advisory firm that has developed a close working relationship with PMGC. GB Capital's role extended far beyond typical advisory services, demonstrating the deep integration required for a successful serial acquisition strategy. The firm co-advised PMGC throughout the transaction lifecycle, leading the critical financial due diligence workstream.

This involved a detailed quality of earnings analysis, a thorough working capital assessment, and the normalization of management-adjusted EBITDA. GB Capital also managed audit coordination and prepared historical financial statements to meet the rigorous U.S. GAAP compliant audit and post-acquisition reporting requirements for a NASDAQ-listed company. The firm’s involvement underscores the necessity of institutional-grade financial rigor in executing a public-company roll-up.

GB Capital's engagement continues post-closing, where it is supporting the transition and integration of A&B into the PMGC ecosystem. A key component of this is the rollout of GB Capital's proprietary C.O.R.E. Financial Framework (Compliant, Organized Reporting Engine). This system is designed to standardize accounting, reporting, and internal controls across PMGC's growing portfolio. For a serial acquirer, such a framework is vital for creating a scalable, efficient, and transparent financial infrastructure, mitigating risk and enabling leadership to make informed strategic decisions.

Broader Trends in Aerospace and Defense Consolidation

The PMGC and A&B Aerospace deal is not happening in a vacuum. It is a microcosm of a larger M&A trend reshaping the U.S. aerospace and defense (A&D) landscape. After a period of relative quiet, A&D M&A activity rebounded to $42 billion in 2023, with experts forecasting continued momentum, particularly in small and midsize transactions.

Several factors are driving this consolidation. Geopolitical tensions and rising defense budgets are fueling demand for defense technology and secure supply chains. Concurrently, the commercial aerospace sector is in a multi-year production ramp-up, creating sustained demand for components. Prime contractors and Tier 1 suppliers are increasingly focused on onshoring and de-risking their supply chains, creating a favorable environment for proven, certified U.S.-based manufacturers like A&B Aerospace.

In this environment, M&A has become a primary tool for growth and innovation. Larger companies and private equity-backed platforms are acquiring smaller, specialized firms to quickly gain critical technologies, skilled workforces, and access to key customer programs. PMGC's strategy to build a scaled platform of high-quality precision manufacturers is a direct response to these powerful market forces, positioning the company to become a more significant and resilient player in the national industrial base.