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X Squadron says Mach Industries has acquired the company; leaders to return in June with details
Summary
Eric Schmidt, president of X Squadron, told the Victorville City Council that Mach Industries has acquired X Squadron and that company leadership will remain; staff and council were thanked and the company said it will return in June with more detail on local impacts.
Eric Schmidt, president of X Squadron, used the public-comment portion of the Victorville City Council meeting to announce that Mach Industries has acquired X Squadron. Schmidt thanked city staff, airport management and council for their support during the firm's growth at the Southern California Logistics Airport.
Schmidt said leadership will remain in place: “Kevin and I are not going anywhere,” he told the council, and said he and company colleagues would return in June to discuss what the acquisition will mean for the community, employees and the airport's role in the defense and aerospace ecosystem.
The announcement was made during public comment; no council action was requested or taken on the transaction during the meeting.
