On November 14, Boca Raton, FL-based AE Industrial Partners, LP (AEI) announced that it has completed its majority stake investment in York Space Systems, an independent provider of small satellites, satellite components and turnkey mission operations.
Dirk Wallinger, who founded York in 2012, will remain in his current role as CEO and board director, and Charles “Chuck” Beames will continue to serve on the board of directors. They will also maintain significant ownership positions in York. Terms of the transaction were not disclosed.
Headquartered in Denver, CO, York manufactures and architects low Earth orbit (“LEO”), geosynchronous equatorial orbit (“GEO”), and cislunar spacecraft solutions for the proliferated satellite market. Its products are purposefully designed to balance scalability, manufacturability, and efficiency to meet the schedule-driven, high-volume demand for customers’ small satellite constellations. York’s spacecraft solutions are designed for all mission types, including communications, EO/IR, radiofrequency, hyperspectral, weather, remote proximity ops, and more.
“York has transformed the small satellite market with its complete mission solutions and mass manufacturing capabilities. The company has become a critical partner to the Space Development Agency (“SDA”), Space Force, and other national security customers given its ability to deliver new satellite technology solutions faster and more cost efficiently than any other player in the market,” said Kirk Konert, partner at AEI. “With significant momentum from multiple marquee national security LEO constellation wins, York now has the ability to manufacture satellites at mass production level scale, which is transformative to the commercial space industry. We are excited to collaborate with Dirk, Chuck and the entire York team as the company enters into this next stage of growth and development.”
York currently serves a variety of leading government and commercial customers. The SDA recently awarded York an additional contract with a total potential value of approximately $200 million. Known as the T1DES program, York will build and operate 12 prototype satellites that will test satellite communications from LEO to augment the Tranche 1 Transport Layer constellation. As previously announced, York is also providing spacecraft solutions as part of both Tranche 0 and Tranche 1 of the SDA’s Transport Layer and has a contract with the U.S. Department of Defense’s new proliferated LEO constellation.
“AEI’s experience building other space companies in their portfolio coupled with their strategic investment in York empowers us to continue to compete with the world’s biggest aerospace companies while still maintaining the highest level of efficiency and affordability for our government and commercial customers,” said Wallinger. “With rote production now well underway at both our Denver Tech Center and downtown facilities, York is well-positioned to meet today’s surging commercial and DoD market demand. We are optimistic about the opportunities ahead.”
Source: AEI
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By Loren Blinde
November 15, 2022
