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AE Industrial Partners Buys Space Tech Maker Adcole; Kirk Konert Quoted

Jeff Brody
Kirk Konert

AE Industrial Partners has acquired Adcole Maryland Aerospace, a manufacturer of spacecraft components and small satellite platforms, fromĀ Artemis Capital Partners for an undisclosed sum.

AEI said WednesdayĀ theĀ dealĀ represents the private equity firm’s eight platform investment in the past year.

AMA is headquartered inĀ Marlborough, Mass., andĀ has supported interplanetary, geosynchronous and low-Earth orbit missions for both public and private sector customers.

Other AMA products include star cameras and trackers, sun sensors and satellite platformsĀ suchĀ as microsatellites andĀ cubesats.

Kirk Konert, an AEIĀ partner, saidĀ AMA serves as theĀ investment firm’s space technology-focused portfolio company and seeks toĀ address aĀ demand for commercial space and satellite vehicles among government and commercial organizations.

PwC and AkermanĀ respectively served as financial and legal advisers to AEI. Mesirow FinancialĀ acted as Artemis’ financial adviser whileĀ Morgan Lewis served as its legal adviser.

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