Chimney Rock Buys United Electronics from Albion River

Chimney Rock Equity Partners has acquired United Electronics Company from Albion River.

United Electronics Company (UEC) manufactures electronics components used by military contractors, aerospace and satellite communications manufacturers, and other industrial customers. UEC operates through four segments: UEC Advanced Electronics (South Carolina), UEC Advanced Circuit Technologies (New York), UEC Signal Technologies (New Jersey), and UEC RF Microwave (California).

The company’s products include radio frequency, circuit card assembly, and power and connectivity products that generate, amplify, transmit, and receive power and signals within larger systems such as military aircraft, ground vehicles, naval systems, and space satellites. UEC, led by CEO Matt Bakker, is headquartered in Charleston, South Carolina.

“UEC’s products play a vital role in the performance and reliability of some of the most important communications and power systems in the world. Our new partnership with Chimney Rock is an important endorsement of our team’s deep technical expertise and our exciting future as a standalone business. We are excited to partner with the Chimney Rock team to invest further in our capabilities, our people, and our customer relationships,” said Mr. Bakker.

“UEC is a highly strategic platform in the aerospace and defense sector offering differentiated capabilities across the RF, circuit cards, and power storage and connectivity spectrum. The company’s products sit at the core of many mission-critical defense and communications systems, and its technical depth positions it to benefit from long-term demand tailwinds,” said Rob Aikman, a partner at Chimney Rock. “We are excited to partner with Matt Bakker and the UEC team to scale the business through expanded customer relationships and strategic acquisitions that enhance the company’s value.”

“UEC has been developed over decades through the combination of strong legacy businesses, creating the powerful foundation that exists today. Our investment in UEC capitalizes on Chimney Rock’s past experience in relevant sectors and is an attractive opportunity to build a mission-critical, engineering-driven platform that can provide considerable value for its customers. We look forward to supporting the organization with the resources, investment, and strategic focus needed to unlock its full potential,” said William Bishop, a partner at Chimney Rock.

Austin-headquartered Chimney Rock was founded in 2022 by Messrs. Aikman and Bishop, both former investment professionals at Odyssey Investment Partners, and invests in North America-based lower middle-market industrial businesses across aerospace and defense, industrial products and services, and niche products sectors. The acquisition of UEC follows Chimney Rock’s acquisition last month of Gas Clip Technologies, a Dallas-based supplier of portable gas detection equipment used across industrial and infrastructure markets.

Albion River is a control investor in lower middle-market industrial and manufacturing businesses with a specific interest in the defense products and services sector. The firm is led by founder and managing partner Darren Farber and is based near Washington DC in Rockville, Maryland.

In February 2026, Albion River announced the formation of Ignium as a holding company for several portfolio investments, including FAAC, Inter-Coastal Electronics, Epsilor, Maytag Aircraft, and Wescom Group. These businesses were acquired over multiple years prior to the formation of Ignium. Products of Ignium include targeting and simulation systems used in military aircraft, lithium batteries for missile applications, and explosive and signaling devices used in defense applications.

Lincoln International was the financial advisor to UEC on its sale to Chimney Rock Equity Partners.