Acorn Growth Companies, a middle-market defense and aerospace investor, has finalized its sale of Black Sage Technologies to private equity firm Highlander Partners .
The transaction, which comes nearly four years after Acorn bought Black Sage, is part of the latter’s expansion strategy, Acorn Growth said Tuesday.
Oklahoma-headquartered Acorn Growth bought Black Sage in 2019 and helped the counter-drone technology maker to gain a footing in the defense market through capital investment and industry partnership initiatives.
Earlier this month, Highlander Partners said it made the acquisition to capture a bigger share of the market for counter-unmanned aerial vehicles.
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Everforth ECS secured the original SUNet contract in 2019, followed by a modification two years later.
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