With about 600 employees across over a dozen locations globally, AEVEX provides airborne intelligence, surveillance and reconnaissance technology solutions to Defense Department, Special Operations and intelligence community customers worldwide.
AEVEX CEO Brian Raduenz said MDP and CoVant are the right partners to help bolster and grow the company’s AISR solutions.
“Our new partnership with MDP and CoVant will enable us to accelerate our investment in innovation, attract and retain the very best talent, and provide our customers with the decision advantage they need in dynamic mission environments,” he added.
CoVant Chairman and CEO Joseph Kampf said AEVEX “is perfectly aligned with our collective expertise” and AEVEX employees and customers will benefit from “our experience, resources, and extensive relationships in the sector.”
“We are proud to join forces with AEVEX and pursue a growth plan that is built around the Company’s focus on advancing our nation’s intelligence technology infrastructure and safeguarding our country’s security,” he added. “AEVEX’s capabilities address an enduring threat which is core to the investment and operational strategy across all of our companies.”
The transaction, which is slated to close by the end of the first quarter of 2020, is subject to the satisfactory completion of customary closing conditions.
William Blair is AEVEX’s financial adviser with Haynes and Boone serving as legal adviser. Kirkland & Ellis and Crowell & Moring are legal advisers to MDP and CoVant. CSP Associates and The Chertoff Group provided transaction advisory services to MDP and CoVant.