Redwire Acquires Made In Space, the Leader in On-orbit Space Manufacturing Technologies
JACKSONVILLE, Florida, June 23, 2020 /PRNewswire/ -- Redwire, a new leader in mission critical space solutions and high reliability components for the next generation space economy, announced today that it has acquired Made In Space, Inc. ("MIS"), an innovative provider of industry-leading on-orbit space manufacturing technologies. The acquisition also includes Made In Space Europe, based in Luxembourg and a sister company to the U.S. organization, which provides space-capable robotic systems to the global space industry. Terms of the transaction were not disclosed.
Founded in 2010, MIS was the first company to perform additive manufacturing in space and specializes in on-orbit manufacturing and assembly, zero gravity materials development, and human space exploration manufacturing solutions. Over the last 10 years, MIS has teamed with NASA on several space manufacturing projects including the Archinaut program, an in-space robotic manufacturing and assembly capability that builds large scale space assets on-orbit. Headquartered in Jacksonville, Florida, MIS has additional offices in California, Alabama, and Ohio.
The acquisition demonstrates Redwire's continued investment in differentiated space technology that enables next generation space infrastructure and exploration solutions. MIS products and technologies will enhance Redwire's existing technology portfolio which includes space sensors and payloads, flight hardware, and exploration spacecraft.
AE Industrial Partners, LP ("AEI"), a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets, launched Redwire in June 2020 through the combination of portfolio companies Adcole Space and Deep Space Systems. Both companies were acquired by AEI earlier this year.
"To truly realize the full potential for space exploration, innovation must change the economics," said Peter Cannito, CEO of Redwire. "Made In Space has been driving these innovations and is now positioned to revolutionize the industry."
"Joining Redwire is an exciting opportunity to be part of a new company taking an innovative approach to address the needs of today's space industry," said Andrew Rush, President and CEO of MIS. "Redwire provides us with the scale and space heritage we need to take our technology to the next level."
"We share Redwire's vision to push the boundaries of technological innovation in space to enable greater opportunities for positive economic impact on Earth and advance exploration," said Michael Snyder, MIS Chief Engineer. "With strong support from Redwire and AEI, we look forward to accelerating our efforts and delivering new capabilities to the market."
"Combining the game-changing innovations of Made In Space with the unmatched flight heritage of Adcole Space and Deep Space Systems creates a truly unique space platform," said Kirk Konert, Partner at AEI. "Additionally, gaining a European presence through Made In Space Europe will allow us to better serve the global space community. We look forward to working with Andrew, Mike and the MIS team."
PricewaterhouseCoopers LLP served as the financial advisor and Kirkland & Ellis LLP served as the legal advisor to Redwire. Gibson, Dunn & Crutcher LLP was the legal advisor to MIS.
About Redwire
Redwire is a new leader in mission critical space solutions and high reliability components for the next generation space economy. With decades of flight heritage combined with the agile and innovative culture of a commercial space platform, Redwire is uniquely positioned to assist its customers in solving the complex challenges of future space missions. For more information, please visit www.redwire.space.
About Made In Space, Inc. ("MIS")
MIS is the industry leader for space manufacturing technologies, delivering next-generation capabilities on-orbit to support exploration objectives and national security priorities. As the first commercial company to additively manufacture in space, MIS is advancing the commercial space economy through its expansive technology portfolio. With a focus on industrializing the space environment, MIS specializes in on-orbit manufacturing, space-enabled materials development and exploration manufacturing technology. With offices in Florida, California, Alabama, and Ohio in the United States and Luxembourg, Europe, MIS is empowering a highly talented workforce to realize the Company vision of sustainably building off-Earth manufacturing capabilities to enable the future of space exploration. For more information, visit www.madeinspace.us.
About AE Industrial Partners
AE Industrial Partners is a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from its deep industry knowledge, operating experience, and relationships throughout its target markets. Learn more at www.aeroequity.com.
CONTACT:
For Redwire/AE Industrial Partners:
Lambert & Co.
Jennifer Hurson
(845) 507-0571
jhurson@lambert.com
or
Kristin Celauro
(732) 433-5200
kcelauro@lambert.com
For Made in Space:
Austin Jordan
321-536-8632
austin.jordan@madeinspace.us
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