AE Industrial Partners has acquired Jennings Aeronautics, a California-based company developing small unmanned aerial systems designed to take off vertically and run using oxide fuel.
AEI said Tuesday it will merge the acquired business with UAV Factory, which the private equity firm purchased in January.
John Purvis, CEO of JAI, will hold a similar role at the combined company while JAI founder Gordon Jennings will serve in a senior leadership position.
JAI, which will be the first business AEI is integrating into its unmanned and autonomous platform, produces flight and ground control software, avionics and imaging payloads.
Kirkland & Ellis acted as legal adviser to AEI and UAV Factory, while William Blair and PwC served as financial advisers on the acquisition deal.
