Czechoslovak Group

Prague-based defense conglomerate and critical NATO supplier, second-largest medium/large-calibre ammunition producer in Europe and largest small-calibre ammunition producer globally. - Completed record-breaking defense IPO on Euronext Amsterdam

For three decades, the Pentagon told defense contractors to consolidate. Now it's paying $1 billion to help one spin off—and the strategy is cascading across the entire defense industrial base. The Defense Department announced in January 2026 it will take an equity stake in L3Harris's solid rocket motor business, which will become a separate publicly traded company in the second half of 2026. It's the first time the Pentagon has directly invested in a defense supplier rather than simply buying its products. By early February, the model had already proven its power: Congress passed an $838.7 billion FY2026 defense budget with $2.9 billion earmarked specifically for munitions and industrial capacity expansion, and Raytheon announced five landmark framework agreements to triple Tomahawk production and double AMRAAM output over seven years.

Updated Feb 5

Europe's second-largest medium/large-caliber ammunition producer and the world's largest small-caliber ammunition producer. - Publicly traded on Euronext Amsterdam

Europe spent three decades letting its defense industrial base wither. Now it's racing to rebuild. CSG, a Czech ammunition maker virtually unknown outside defense circles, just completed the largest defense IPO ever recorded—€3.8 billion—with shares surging 31% on their first trading day. The company is now worth €33 billion, and its 33-year-old owner Michal Strnad has become one of the world's richest people under 40.

Updated Jan 30