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AE Industrial Partners Invests in Small Satellite Maker York Space Systems
Wednesday 05 October 2022

US-based space investing and a private equity firm AE Industrial Partners, LP, specializing in aerospace, defense and government services, space, power and utility services, and specialty industrial markets, has agreed to acquire a majority stake in US-based small satellites, satellite components and turnkey mission operations provider York Space Systems, the firm said.

Funds and accounts managed by BlackRock Private Equity Partners also agreed to invest alongside AE Industrial in the transaction.

Terms of the transaction were not disclosed.

York manufactures and architects low Earth orbit, geosynchronous equatorial orbit, and cislunar spacecraft solutions for the proliferated satellite market.

The company's products are purposefully designed to balance scalability, manufacturability, and efficiency to meet the schedule-driven, high-volume demand for customers' small satellite constellations.

York's spacecraft solutions are designed for all mission types, including communications, EO/IR, radiofrequency, hyperspectral, weather, remote proximity ops, and more.

The company currently serves a variety of leading government and commercial customers, including the Space Development Agency, for whom York is providing spacecraft solutions as part of both Tranche 0 and Tranche 1 of the agency's Transport Layer.

Headquartered in Denver, Colorado, York has approximately 165,000 square feet of satellite manufacturing space across the Denver area.

With the recent opening of its newest facility in the Denver Tech Center, York boasts the capacity to produce 750+ satellites per year.

Building on its marquee wins on the US Department of Defense's new proliferated LEO constellation, York now has the significant institutional investor backing and capital to continue to make great inroads in both the government and commercial small satellite market.

CEO Dirk Wallinger, who founded York in 2012, will continue to lead the company, and chairman Charles "Chuck" Beames will continue to serve on the board of directors. Both will maintain significant ownership positions in York.

Kirkland and Ellis LLP served as legal advisor and Ernst and Young as financial advisor to AEI. Gibson, Dunn and Crutcher LLP acted as legal advisor and Jefferies LLC as exclusive financial advisor to York.
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Date Published: 05/10/2022

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