Redwire Acquires LoadPath

Redwire, a portfolio company of AE Industrial Partners (AEI), has acquired aerospace company LoadPath.

LoadPath specializes in the development of engineered products and services used in launch vehicle and satellite manufacturing by both companies and governments including NASA and the United States Department of Defense. The company’s capabilities include multi-payload launch adapters, structural testing, deployable space structures, thermal management components, and thermal analysis.

LoadPath was founded in 2009 by Adam Biskner and Greg Sanford and is headquartered in Albuquerque, New Mexico. Both Mr. Biskner and Mr. Sanford will continue to be active as part of the team at Redwire.

“LoadPath brings market-leading capabilities to augment Redwire’s space infrastructure portfolio and broaden our range of technology products and services to support our customers’ missions,” said Peter Cannito, the CEO of Redwire. “We are excited to work with Adam and Greg and the LoadPath team to leverage their impressive technology flight heritage and advance their capabilities as a part of Redwire.”

AEI formed Redwire in June 2020 to combine Maryland-based Adcole Space with Colorado-based Deep Space Systems, a maker of advanced space components. AEI acquired Adcole Space in March 2020 (then Adcole Maryland Aerospace) from Artemis Capital Partners.

Adcole is a manufacturer of guidance, navigation, and control components used in low-earth orbit and geosynchronous satellites, and interplanetary spacecraft. The company’s key products include sun sensors (a navigational instrument used by satellites and spacecraft to detect the position of the sun); and star trackers and cameras (used to determine the orientation of a satellite and spacecraft with respect to the stars).

In addition to Adcole Space and Deep Space, Redwire’s other 2020 add-ons are the June buy of Florida-based Made In Space, a pioneer of in-space manufacturing and assembly technologies including 3-D printers that have flown on the International Space Station; and the October buy of Colorado-based Roccor, a supplier of deployable booms, structures, antennas, and solar arrays for spacecraft.

“We’re thrilled to support the ongoing growth of Redwire, as it continues on its course to become the leader in mission-critical solutions for the space industry,” said Kirk Konert, a partner at AEI. “LoadPath brings new technologies to the organization, allowing Redwire to better serve its customers.”

Boca Raton-based AEI invests in the aerospace and defense, power generation, and specialty industrial sectors with a specific focus on technical manufacturing; distribution and supply chain management; maintenance, repair, and overhaul; and industrial service-based businesses. Typical company targets will have from $50 million to $500 million of revenue. In July 2018, the firm held a final hard-cap closing of its second private equity fund, AE Industrial Partners Fund II LP, with $1.36 billion in commitments.

Private Equity Professional | December 16, 2020

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