CHICAGO, March 23, 2020 – Mesirow Financial acted as the exclusive financial advisor to Artemis Capital Partners (“Artemis”) on the sale of its portfolio company Adcole Maryland Aerospace (“AMA” or “the Company”) to AE Industrial Partners (“AEI”).
Established in 1957 and based in Marlborough, Massachusetts, AMA has been at the forefront of space exploration since its beginning, providing satellite components that are integral to the mission success of hundreds of low-earth orbit (LEO), geosynchronous (GEO) and interplanetary spacecraft. The Company's core capabilities include the design and manufacture of mission-critical, high reliability optical sensors for satellites providing guidance, navigation, situational awareness, and control capabilities. Key products include sun sensors, star trackers, and star cameras. AMA has been an essential part of many space missions including voyages to Mercury, Mars, Jupiter, Saturn, and Pluto, and its customers include the Department of Defense as well as other government agencies and leading private companies in aerospace and defense.
Jae Kim, managing director of Mesirow Financial’s Investment Banking group, commented on the transaction, “We appreciated the opportunity to represent Artemis Capital Partners and AMA in this important transaction. We believe AEI is the ideal partner for AMA and will help to build upon the Company’s longstanding heritage and continue its leadership position within the space and satellite industry.”
This transaction represents another successful assignment completed by Mesirow Financial’s Investment Banking group, highlighting the firm’s transaction experience within both the Aerospace & Defense and Industrial Technology sectors. Committed to leveraging extensive sector-specific expertise and nurturing deep long-standing relationships, Mesirow Financial’s team has a proven track record of completing successful deals on behalf of their clients.
About Mesirow Financial Investment Banking
Mesirow Financial Investment Banking focuses exclusively on middle-market transactions and serves both public and private companies in merger & acquisition advisory, debt advisory, restructuring and special situations, fairness and solvency opinions, board of directors advisory and special committee representation. Our practice combines rich industry knowledge and long-standing relationships with an entrepreneurial desire to develop tailored solutions designed to deliver measurable results. For more information, please visit mesirow.com
About Adcole Maryland Aerospace
Based in Marlborough, Massachusetts, Adcole Maryland Aerospace (AMA) specializes in the design, manufacture, integration, test, and operation of spacecraft components and small satellites. The Company combines new space technologies with a rich heritage in space flight and proven traditional space hardware to meet the emerging needs of the aerospace industry. AMA’s team of engineers have a diverse range of skill sets and decades of mission experience, and combined with its state-of-the-art cleanroom facility, enable the Company to deliver end-to-end space systems that meet exacting quality standards. To learn more, please visit adcolemai.com.
About Artemis Capital Partners
Founded in 2010, Artemis Capital Partners is a Boston-based private equity firm focused on acquiring and growing manufacturers of differentiated industrial technologies. Artemis seeks to partner with companies that have strong established management teams, outstanding engineering capabilities, unique products, and expanding niche markets. For more information on Artemis, please visit: www.artemislp.com.
About AE Industrial Partners
AE Industrial Partners is a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from its’ deep industry knowledge, operating experience, and relationships throughout our target markets. Learn more at aeroequity.com.