AE Industrial Partners, a private equity firm focused on the aerospace and government markets, has wrapped up its acquisition of a majority stake in small satellite builder York Space Systems.
Financial terms of the transaction were not disclosed and AEI said Monday that York founder Dick Wallinger will stay as CEO while Chairman Charles Beames will be part of the board of directors.
Both executives will retain significant ownership positions at the Denver-headquartered space company.
The deal was closed more than one month after AEI first announced the investment.
York develops small satellites and satellite components for applications in commercial and government projects, including the Space Development Agency’s Transport Layer program.
In September, York secured a $200 million contract to build and operate 12 prototype satellites to test tactical satellite communication and integrated broadcast service capabilities from LEO.
The award follows a $94M contract to provide space vehicles and optical intersatellite link paths for the transport layer.
