Excelitas Technologies

Enabling Innovation Across Industries

In 2017, AEA’s Middle Market Private Equity (“MMPE”) fund invested in Excelitas Technologies (“Excelitas”), a leading industrial technology platform providing critical sensing, detection and imaging solutions that enable customers’ product offerings across the life sciences, consumer, industrial, semiconductor and defense industries. Excelitas’ solutions are based on core technology capabilities in photonoics, the emission, manipulation and detection of light.

AEA MMPE identified Excelitas as a differentiated market leader in photonics driving digital conversion across a number of industries through long term embedded relationships with customers. The AEA MMPE team has worked closely with management to invest in new technical capabilities both organically and via M&A, drive operational improvement across the footprint, add critical talent and optimize organizational design. Through these collaborative efforts, Excelitas has been able to integrate additional content for its customers, accelerate new product introductions, and build its imaging platform.

Created Value


Strategic acquisitions completed to-date


Increase in capacity to support strategic growth


Increase in R&D


New product introduction vitality index of ~30%

Photo of Davis Nislick

“AEA has supported and encouraged investing for future growth, from key talent additions and expansion of R&D resources to strategic add-on M&A. This support has helped us drive new product introductions and expansion into adjacent technologies. AEA has been a genuine partner helping us build a best-in-class industrial technology company positioned for long term success.”

David Nislick
Chief Executive Officer, Excelitas Technologies