UAV Factory Portfolio Company Acquires Jennings Aeronautics
- AE Industrial Partners, LP, a US-based private equity firm specializing in aerospace, defense & government services, space, power generation, and specialty industrial markets, announced that it has expanded its Unmanned and Autonomous platform through the acquisition of Jennings Aeronautics, Inc., a provider of innovative Small Unmanned Aerial Systems.
- JAI will be combined with UAV Factory, which was acquired by AEI in January of 2021.
- As part of the transaction, JAI CEO John Purvis will assume the role of CEO of the combined company. Terms of the transaction were not disclosed.
- “Joining the UAV Factory team and the AEI family at this exciting time in the industry’s development is a game-changer for JAI and I’m honored to take the helm of the combined company during this pivotal moment,” said John Purvis. “We will now have more capital, operational expertise and an international footprint allowing us to grow our business and support our customers better than we could alone. I look forward to working with the team as we continue to build a truly disruptive and differentiated player in the unmanned and autonomous market.”
- JAI marks the first acquisition into the UAV Factory platform since AEI acquired UAV Factory in January 2021.
- “AEI is committed to building a unique and differentiated platform with proprietary technology in the unmanned and autonomous market, and with the addition of JAI and its innovative SUAS offerings, we have taken a huge step forward in reaching this goal,” said Jeffrey Hart, Principal at AEI. “JAI also affords us tremendous manufacturing and engineering capabilities and a footprint that will allow us to quickly scale and meet the growing demands of our customers”
- “The powerful combination of JAI and UAV Factory will provide tremendous synergies and create an instant force in the tactical UAV market,” said Josh Brungardt, who will assume the role of Chief Operating Officer of the combined company.
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