AEI to acquire satellites provider York Space Systems

BlackRock Private Equity Partners also agreed to invest alongside AE Industrial in the transaction.

  • CEO Dirk Wallinger, who founded York in 2012, will continue to lead the company while Chairman Charles Beames will continue to serve on the board of directors
  • Both Wallinger and Beames will maintain significant ownership stakes in York
  • Ernst & Young was financial advisor to AEI on the deal while Jefferies LLC was financial advisor to York

AE Industrial Partners have agreed to acquire a majority stake in Denver-based York Space Systems, a provider of small satellites, satellite components and turnkey mission operations. BlackRock Private Equity Partners also agreed to invest alongside AE Industrial in the transaction. No financial terms were disclosed.

CEO Dirk Wallinger, who founded York in 2012, will continue to lead the company, and Chairman Charles Beames will continue to serve on the Board of Directors. Both will maintain significant ownership positions in York.

“With its innovative spacecraft designs and manufacturing processes, York has revolutionized the small satellite market, which is poised for significant growth in both the government and commercial markets over the next 20 years,” said Kirk Konert, a partner at AEI, in a statement. “Backing the largest independent small satellite manufacturer represents a unique opportunity to serve the fast-growing LEO commercialization and national security markets, and we look forward to partnering with Dirk, Chuck and the entire York team during this exciting time in the space industry and at the Company.”

Kirkland & Ellis LLP served as legal advisor and Ernst & Young as financial advisor to AEI. Gibson, Dunn & Crutcher LLP acted as legal advisor and Jefferies LLC as exclusive financial advisor to York.

AE Industrial Partners invests in aerospace, defense & government services, space, power & utility services, and specialty industrial markets.