Aeronix

Status: Current
Initial Investment: June 2021
Location: Melbourne, FL
Investment Type: Recapitalization
Investment Industry: Aerospace & Defense

Aeronix (Melbourne, FL) is a defense contractor that focuses on systems engineering, electronics, and software development for control, communication, data acquisition, and information processing systems. Aeronix’s proprietary technologies include ruggedized ethernet switches and routers, tactical data links, software defined radios, mission logistics systems, and signal processors.

Harvey & Company initially met Aeronix’s management team in 2018. At the end of 2020, we introduced Aeronix’s team to a leading private equity sponsor who consummated a majority recapitalization in June 2021. The private equity sponsor assisted Aeronix’s team in purchasing the remaining ESOP, building an in-house business development team, initiating a strategic add-on acquisition campaign, and providing support to drive long-term value creation.

Within 6 months from the initial investment, Harvey & Company initiated the add-on acquisition of ITI Engineering, LLC (Orlando, FL). ITI is a provider of ground-based data transfer devices for mil-aero applications. The overall business became Aeronix Technologies Group, a holding company with a collective strategic vision of “becoming a dynamic mid-tier DoD centric company providing excellence to our customers in the form of services and products to support the greatest asset of the United States of America – its warfighters.”

Harvey & Company co-invested alongside the lead private equity sponsor and continues to work with proactively with Aeronix’s management team to identify add-on acquisition targets.

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