AE Industrial Partners Acquires Adcole Maryland Aerospace, a Specialist in Small Satellites and Spacecraft Components

Boca Raton, FL – March 3, 2020 – AE Industrial Partners, LP (“AEI”), a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets, announced today that it has acquired Adcole Maryland Aerospace (“AMA” or the “Company”), a long-standing leader in the design, manufacture, test and integration of critical spacecraft components and small satellites, from Adcole Corporation, a portfolio company of Artemis Capital Partners. Terms of the transaction were not disclosed. AMA represents the seventh new platform investment closed by AEI in the last 12 months.

Established in 1957, and based in Marlborough, Massachusetts, AMA has been at the forefront of space exploration since the very beginning, providing satellite components that have been integral to the mission success of hundreds of LEO, GEO and interplanetary spacecraft. By combining new space technologies with a proven heritage in space flight, AMA is uniquely qualified to meet the complexity and demands of today’s evolving space industry. AMA has been an integral part of many space missions including voyages to Mercury, Mars, Jupiter, Saturn, and Pluto, and its customers include the Department of Defense as well as other government agencies and leading private companies in aerospace and defense.

“We have been impressed by AMA’s tenure, reputation and respected flight heritage in the space industry, and we are excited to partner with a truly premier supplier to the space industry,” said Kirk Konert, a partner at AEI. “AMA and its talented team will represent the first company of AEI’s space platform which will serve the growing demand of space and satellite vehicles from the Department of Defense and new commercial players.”

“AMA has remained at the forefront of a constantly evolving industry because we are continually investing in state-of-the-art equipment and processes, while drawing on our deep heritage and industry expertise,” said Don Wesson Jr., General Manager of AMA’s Components Division. “We are excited to build upon our successful heritage and team with a dedicated specialist firm like AEI who will partner with us through our next chapter of growth.”

“AMA is uniquely positioned to lead developments in the space industry, and AEI looks forward to bringing our passion and resources to better position the Company to take advantage of today’s opportunities in the space and satellite industry,” said Pete Cannito, an Operating Partner at AEI.

PwC served as the financial advisor and Akerman LLP served as the legal advisor to AEI. Mesirow Financial was the financial advisor and Morgan Lewis was the legal advisor for Artemis Capital Partners.

About Adcole Maryland Aerospace

Based in Crofton, MD, and Marlborough, MA, Adcole Maryland Aerospace specializes in the design, manufacture, integration, test, and operation of small satellites and spacecraft components. The Company combines new space technologies with a rich heritage in space flight and proven traditional space hardware to meet the emerging needs of the aerospace industry. Adcole’s team of engineers have a diverse range of skill sets and decades of mission experience, and combined with its state-of-the-art cleanroom facility, enable the Company to deliver end-to-end space systems that meet exacting quality standards. To learn more, please visit https://www.adcolemai.com.

About AE Industrial Partners

AE Industrial Partners is a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from our deep industry knowledge, operating experience, and relationships throughout our target markets. Learn more at www.aeroequity.com.

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