US-based private equity firm AE Industrial (AEI) Partners has acquired Adcole Maryland Aerospace (AMA) from Adcole Corporation, a portfolio company of Artemis Capital Partners.

The terms of the transaction have not been disclosed.

Founded in 1957, AMA designs, develops, tests, and integrates critical spacecraft components and small satellites.

The firm manufactures optical sensors for satellites that allows guidance, navigation, situational awareness, and control capabilities. Sun sensors, star trackers, and star cameras are the other key AMA products.

AEI partner Kirk Konert said: “We have been impressed by AMA’s tenure, reputation, and respected flight heritage in the space industry, and we are excited to partner with a truly premier supplier of mission-critical technologies.

“AMA represents the first company of AEI’s space technology platform, which will serve the growing demand from both the US Government and the commercial market for space and satellite vehicles.”

AMA is part of various space missions, including expeditions to Mercury, Mars, Jupiter, Saturn and Pluto.

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The company’s customer base includes various government agencies and private aerospace and defence companies.

Commenting on the latest development, AMA components division general manager Don Wesson Jr said: “AMA has remained at the forefront of a constantly evolving industry because we are continually investing in state-of-the-art equipment and processes while drawing on our deep heritage and industry expertise.

“We are excited to build upon our successful heritage and team with a dedicated specialist investor like AEI, who will partner with us through our next chapter of growth.”

AMA marks the eighth platform investment closed by AEI in the last 12 months.