Thursday, December 8, 2022
HomeUS NewsSpacecraft builder York sells stake to private equity company AEI at over...

Spacecraft builder York sells stake to private equity company AEI at over $1 billion valuation – IHNS

Certainly one of many agency’s spacecraft in orbit.

York Space

Spacecraft producer York Space Applications is selling a majority stake throughout the agency to private equity company AE Industrial Companions at an enterprise valuation of $1.125 billion, IHNShas found.

The deal, launched on Tuesday, makes York the latest space unicorn — a corporation valued at over $1 billion on the private markets. AEI took a 51% equity stake in York at that valuation, people conscious of the deal knowledgeable .C.

AEI has made a variety of throughout the space sector over the past two years, taking positions in corporations like Sierra Space, Firefly Aerospace, Redwire, Terran Orbital, and Virgin Orbit. BlackRock’s private equity arm joined AEI throughout the York funding.

Enroll proper right here to acquire weekly editions of .C’s Investing in Space publication.

AEI declined to the touch upon the deal, the phrases of which weren’t disclosed. York didn’t immediately reply to .C’s request for comment.

The S-CLASS platform, designed for missions for every kind of presidency and enterprise purchasers.

York Space Applications

Based in Denver, Colorado, and based mostly in 2012 by CEO Dirk Wallinger, York has steadily expanded its product line of spacecraft that it builds for purchasers wanting to operate satellites in orbit. York manufactures what is known throughout the enterprise as a spacecraft “bus,” the precept building and physique of a satellite tv for pc television for computer, and focuses on low-cost merchandise that fluctuate in measurement from a household oven to a fridge.

York has better than $1 billion backlog of contracts to date – most notably an award to assemble spacecraft for the Pentagon’s in-development satellite tv for pc television for computer internet system.

The company maintains quite a few facilities with about 165,000 full sq. ft of manufacturing room, with functionality to supply upwards of 750 satellites per yr.

In a press launch, AEI talked about that Wallinger will proceed as CEO, whereas chairman Charles Beames will proceed serving on the York board of directors.



Please enter your comment!
Please enter your name here

- Advertisment -

Most Popular