The Serbian Economist reports that Michal Strnad’s Czech defence-industrial holding Czechoslovak Group (CSG) has acquired a controlling stake in Belgrade-based Mechatronics Unmanned Systems & Technology Solutions (MUST Solutions), which produces propulsion systems and components for drones.
According to sources, the purchase was formalised through a new subsidiary, AviaNera Technologies: CSG took a 51% stake from company founder Vladimir Jazarevic; the amount was not disclosed. MUST specialises in the design and manufacture of compact turbojet and other propulsion solutions for UAS (propulsion systems), which expands CSG’s portfolio in the unmanned systems segment.
CSG says the asset will deepen the holding’s competences in high-tech UAV subsystems and integrate the Serbian development base into the European supply chain.
CSG is one of the largest private defence-industrial holdings in Central Europe (Tatra Trucks, Fiocchi Munizioni, etc.), actively expanding through M&A; the owner is Michal Strnad, who was named the richest Czech in 2025 by a number of rankings. According to Forbes/Bloomberg, growth has occurred on the back of increased demand for arms and ammunition; the group is increasing its presence in Europe and the US.
MUST Solutions (Belgrade) – engineering company in the field of propulsion systems and components for UAVs; after the deal, control (51%) went to CSG (via AviaNera), founder Vladimir Jazarevic retained a stake. The company is known for developing small jet and other engines for UAS.