On November 2, AE Industrial Partners, LP, a private investment firm focused on technologies and services considered critical to national and economic security, announced the closing of AE Industrial Partners BR Fund, LP, a new single asset continuation vehicle of approximately $850 million in connection with the recapitalization of its portfolio company Blue Raven.
The continuation vehicle is led by Lexington Partners, with additional investment from several leading institutional investors. Blue Raven management and certain existing shareholders rolled significant proceeds in connection with the transaction.
“Blue Raven has delivered impressive scale, diversification and organic growth,” said Jon Nemo, managing partner at AE Industrial Partners. “This continuation vehicle will provide additional capital to accelerate growth through a broad range of organic initiatives and potential strategic acquisitions, while strengthening our value proposition to customers and OEM partners.”
Since AE Industrial’s initial investment in 2019, Blue Raven has developed into the leading technology-enabled distribution platform in the global defense marketplace, serving as the authorized and exclusive distributor of highly engineered parts, complex systems and hard-to-source components for a growing list of OEM partners to customers in more than 40 countries. Powered by its proprietary SEDNA analytics platform, the company provides real-time intelligence and forecasting to reduce lead times, mitigate obsolescence, and maintain mission readiness.
“We are proud to continue our partnership with Blue Raven and welcome Lexington as our new lead investor,” said Charlie Compton, managing partner at AE Industrial Partners. “Lexington is a leader in secondary private equity investing and shares our conviction in Blue Raven’s strategy and future growth opportunity.”
Source: AE Industrial Partners
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