AE Industrial acquires small satellite technology provider Adcole Maryland Aerospace

Aerospace-focused private equity firm AE Industrial Partners, LP (AEI) has announced the acquisition of Adcole Maryland Aerospace, a long-standing leader in the design, manufacture, test and integration of critical spacecraft components and small satellites, from Adcole Corp., the company said.

Adcole Corp. is a portfolio company of Artemis Capital Partners.

Terms of the transaction were not disclosed.

AMA represents the eighth platform investment closed by AEI in the last 12 months.

By combining new space technologies with a proven heritage in space flight, AMA is qualified to meet the complexity and demands of the growing and evolving space industry.

The company´s core capabilities include the design and manufacture of mission-critical, high reliability optical sensors for satellites providing guidance, navigation, situational awareness, and control capabilities. Key products include sun sensors, star trackers, and star cameras. AMA has been an essential 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.

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.

Adcole Maryland Aerospace specializes in the design, manufacture, integration, test, and operation of spacecraft components and small satellites. 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.

AE Industrial Partners is a private equity firm specializing in Aerospace, Defense and government Services, Power Generation, and Specialty Industrial markets.