$3.8 Billion Merger Positions Charleston as a Defense Manufacturing Leader


In a significant development for Charleston’s defense and manufacturing sector, Pegasus Steel, in collaboration with Merril Technologies Group and Metal Trades, has formed Keel Holdings, LLC.

This new powerhouse, supported by a substantial $3.8 billion fund from Arlington Capital Partners, is set to revolutionize the supply network for nuclear-powered military vessels. The merger combines local expertise in metals fabrication with advanced manufacturing capabilities, promising to elevate Charleston’s position in the national defense industry.

Pegasus Steel, a stalwart in the Lowcountry’s manufacturing landscape, brings its specialized skills in producing components for military hardware and iconic structures to Keel Holdings. With operations in Ladson, Goose Creek, and Hollywood, the company is at the forefront of supporting critical defense programs, including the next-generation Columbia-class and Virginia-class submarines.

Keel Holdings stands out with over 700 employees and nine strategic locations across South Carolina and Michigan, emphasizing Charleston’s role in the defense manufacturing supply chain. The merger aims to fast-track production and delivery for the U.S. defense sector, mirroring the efficiency seen in commercial aerospace.

CEO Brian Carter highlights the merger’s potential to drive economic growth and create numerous career opportunities in Charleston and beyond. As Keel Holdings gears up for this new chapter, Pegasus Steel is actively seeking to expand its team, offering a range of positions that promise to contribute to the nation’s defense capabilities and bolster the local economy. This initiative marks a pivotal moment for Charleston, reinforcing its significance in America’s defense manufacturing landscape.