The beginnings of CSG and Michal’s arrival

The foundations of today’s CSG were laid by Jaroslav Strnad, who founded Excalibur Army in 1995. The company became the starting point for the creation and subsequent development of the Group. Excalibur Army remains active today and ranks among Europe’s leading manufacturers of specialized land systems for military, police, and rescue services.

Michal Strnad joined the family business in 2011. Over the following years, he held a number of management positions across the rapidly growing Group. In 2013, he became Chief Executive Officer, two years later Chairman of the Board of CSG, and in 2018 he assumed ownership of the Group from his father.

Under Michal Strnad’s leadership, CSG has evolved into a modern international industrial group with strong management, efficient processes, and a clear growth strategy. At the same time, it has retained the entrepreneurial flexibility, speed of decision-making, and performance-driven culture that have characterized the company since its beginnings.

CSG growth in the Czech Republic and its western orientation

A major milestone in the Group’s history was the acquisition of a majority stake in Tatra Trucks in 2013. With a history dating back to 1850, Tatra is recognized worldwide as a manufacturer of specialized off-road vehicles. Following the acquisition, the company underwent a successful transformation and returned to profitability within its first year under new ownership. Today, Tatra Trucks is one of CSG’s key companies and a globally respected brand.

Under Michal Strnad’s leadership, the Group expanded into new technological fields. Through the acquisitions of Eldis and Retia, CSG entered the radar and defense technologies sector. In 2016, it established Tatra Defence Vehicle (TDV), which within a few years became a significant manufacturer of armored vehicles. The Group’s development also included the creation of Slovak Training Academy, a specialized training center for helicopter pilots and ground personnel. At the time of its establishment, it was the only private operator of UH-60 Black Hawk helicopters in Europe.

These projects also illustrate CSG’s long-term focus on cooperation with Western partners, particularly in Europe and the United States. A significant step was obtaining a license to manufacture Pandur wheeled armored vehicles from GDELS, the European division of the American corporation General Dynamics. In 2020, CSG acquired its first manufacturing facility in Western Europe from GDELS – the FMG ammunition plant in Granada, Spain. The Group also gradually expanded its activities in the United States. Products supplied to the U.S. market include the POLR-1 radar, designed for tactical intervention units. The system can detect movement and human presence behind walls and other non-metallic barriers.

CSG's international expansion

After 2020, Michal Strnad and his team made a strategic decision to expand CSG into the small-caliber ammunition segment and establish a new pillar of the Group’s business. As part of this strategy, CSG actively sought opportunities in the sector and, in 2022, successfully completed the acquisition of Fiocchi Munizioni, one of the world’s leading manufacturers of small-caliber ammunition, with production facilities in Italy, the United Kingdom, and the United States. The acquisition of Fiocchi not only significantly expanded the Group’s manufacturing footprint and geographic reach, but also opened access to a new customer segment. In addition to military and security customers, CSG expanded its focus to hunters and sport shooters, for whom Fiocchi produces premium ammunition.

This was followed by the acquisition of an 80% stake in the Italian family-owned company Perazzi at the end of 2023. The iconic brand is among the world leaders in shotguns for sport shooting and hunting. Perazzi firearms have won more than 60 Olympic medals throughout the company’s history. As in the case of Fiocchi, members of the founding family remained minority shareholders after the transaction.

Michal Strnad completed the largest transaction of his career to date in November 2024 with the acquisition of The Kinetic Group, which includes leading American ammunition manufacturers such as Federal and Remington. The transaction exceeded USD 2 billion in value, making it one of the most significant Czech investments ever made in the United States. As a result of the acquisition, CSG became the largest producer of small-caliber ammunition in the Western world.

Another important milestone came in January 2026, when CSG’s shares were admitted to trading on the regulated market of Euronext Amsterdam. This positioned CSG among publicly listed European industrial companies and created new opportunities for long-term growth. In the same year, the Group also became a member of the Aerospace, Security and Defence Industries Association of Europe (ASD), representing leading companies in these strategic sectors.

Development of large-caliber ammunition production

Large-caliber ammunition production has gradually become one of the key pillars of CSG’s business. The Group has been active in this segment for many years, initially acquiring production capabilities through long-term leases of defense industry facilities in Slovakia. Another major milestone was the acquisition of Spain’s FMG in 2020.

Following Russia’s invasion of Ukraine in 2022, CSG significantly accelerated the expansion of its production capacity. The Group invested in increasing output at its existing facilities while also pursuing opportunities for further geographic expansion. At the same time, it implemented a vertical integration strategy aimed at building a production chain covering key stages of manufacturing – from raw materials and components to finished products.

As a result, CSG strengthened its position within the European defense industry. In 2024, the Group became one of the principal industrial partners of the Czech Ammunition Initiative, aimed at increasing artillery ammunition supplies to Ukraine. Companies within the Group played a major role in the project and have collectively delivered more than 2.7 million artillery rounds.

Another step in building an integrated production chain was the Group’s expansion into Germany. In October 2024, CSG acquired a nitrocellulose production plant and adjacent industrial site in Lower Saxony from International Flavors & Fragrances (IFF). The acquisition enabled CSG to expand production of energetic nitrocellulose, a key input for both small-caliber and large-caliber ammunition.

The strategy of strengthening self-sufficiency was further advanced through a joint venture with the Greek state-owned company HDS, announced in 2025. As part of the project, TNT production will be resumed in Lavrio, Greece.

Through investments in nitrocellulose, propellants, propellant charges, and other critical inputs in Germany, Slovakia, Spain, and Greece, CSG is building a manufacturing base that covers key parts of the large-caliber ammunition value chain. This significantly strengthens the Group’s production independence and its ability to ensure long-term supplies of strategic products.

Ambitions in high-tech industry

A key component of Michal Strnad’s long-term strategy is the development of CSG’s technological capabilities in areas that will shape the future of industry and defense in the decades ahead. These include artificial intelligence, robotics, autonomous systems, and augmented and virtual reality technologies.

To support the creation and growth of innovative technologies, CSG became an investor and partner in the Tech Horizons venture capital fund in 2024. The fund focuses on identifying and supporting promising technology companies developing dual-use solutions with both civilian and defense applications.

CSG’s ability to translate new technologies into practical products is also demonstrated by the unveiling of the next-generation Pandur 8×8 EVO wheeled armored vehicle in 2025. Building on the Group’s extensive experience in defense technologies, the vehicle represents another step forward in the modernization of its product portfolio.

Another milestone came in autumn 2025 with the establishment of AviaNera Technologies. Through this company, CSG entered the unmanned aerial systems (UAS) segment. AviaNera focuses on the development and production of a broad range of unmanned systems and related technologies, including loitering munitions, counter-drone systems, long-range strike UAVs, and key components, particularly propulsion systems.

Business philosophy and strategy

Michal Strnad is developing CSG into an international industrial group with manufacturing capabilities, technological expertise, and commercial activities across the European Union and NATO countries. Following its initial growth phase in Central Europe, the Group expanded through acquisitions in Italy, Spain, Germany, the United Kingdom, and the United States. Alongside the development of manufacturing operations, CSG places strong emphasis on building long-term commercial relationships worldwide, supported by specialized companies such as Excalibur International and Czechoslovak Export.

The core principle of Michal Strnad’s strategy is sustainable growth in key industrial sectors through a combination of organic development, investment in existing companies, and targeted acquisitions. Equally important is the development of strong management teams and the recruitment of top talent throughout the Group. Michal Strnad has long regarded the quality of people as one of the primary drivers of CSG’s success.

Sustainability, innovation, and corporate responsibility also play an important role in the Group’s development. Tatra Trucks, for example, is developing a heavy-duty vehicle powered by an electric drivetrain using hydrogen fuel cells. In cooperation with the Czech Technical University in Prague, CSG helped develop the EWA and SAWER technologies, which produce water directly from the atmosphere and can be deployed in regions with limited access to water resources.

CSG is also actively engaged in supporting sport, education, healthcare, and other public-benefit initiatives. The Group’s corporate culture emphasizes fairness, equal opportunities, and high ethical standards. In 2025, the CSG Foundation was established to support projects in education, community development, assistance to those in need, and other activities reflecting the Group’s values. Another major milestone that year was the partnership agreement with the Czech Olympic Team.

Although Michal Strnad remains closely involved in the strategic management of the Group, he views teamwork as one of the key factors behind its success. The Strnad family has played a central role in the history and development of CSG, and today Michal’s younger brother, Jaroslav Strnad Jr., is already involved in the management of several holding companies, continuing the family’s entrepreneurial tradition.

Under Michal Strnad’s leadership, CSG has become a major industrial group with a global reach. The technologies and products of its companies are used on every continent, ranging from radar systems and defense technologies to specialized vehicles, ammunition, and other industrial products serving both public and private-sector customers.