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AEA Acquires API Technologies
New York – May 9, 2019 – AEA Investors (“AEA” or the “Firm”) Middle Market Private Equity team announced today that its fund has closed the acquisition of API Technologies Corp. (“API” or the “Company”). API is a leading manufacturer of high-performance components and subsystems for radio frequency, microwave and electromagnetic spectrum management primarily for aerospace, defense, space and government applications.
As the core building blocks of embedded electronics, API’s products are essential to the overall function of end customer platforms, allowing for secure and reliable connectivity in highly demanding applications including radar, signals intelligence, guided precision and satellite security. Within API’s sectors, high-performance and quality products are customer requirements and API differentiates itself from competitors based on its scale, breadth of highly trusted brands and ability to innovate and customize. API represents a unique opportunity to invest in the highly attractive radio frequency / microwave components space and the Company will continue to benefit from modernization and retrofitting of communication across existing U.S. defense platforms, as well as increased penetration of electronic content on new platforms.
AEA Investors LP was founded in 1968 by the Rockefeller, Mellon and Harriman family interests and S.G. Warburg & Co. as a private investment vehicle for a select group of industrial family offices with substantial assets. AEA has an extraordinary global network built over many years which includes leading industrial families, business executives and leaders; many of whom invest with AEA as active individual investors (“Participants”) and/or join its portfolio company boards or act in other advisory roles. Today, AEA’s approximately 70 investment professionals operate globally with offices in New York, Connecticut, London, Munich and Shanghai. The firm manages funds that have approximately $11 billion of invested and committed capital including the leveraged buyouts of middle market companies and small business companies and mezzanine and senior debt investments. AEA Private Equity invests across three sectors: value added industrials, consumer, and services.
About API Technologies
API Technologies is an innovative designer and manufacturer of high performance systems, subsystems, modules, and components for technically demanding RF, microwave, millimeter wave, electromagnetic, power and security applications. A high-reliability technology pioneer with over 70 years of heritage, API Technologies products are used by global defense, industrial and commercial customers in the areas of commercial aerospace, wireless communications, medical, oil & gas, electronic warfare, unmanned systems, C4ISR, missile defense, harsh environments, satellites and space.
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