AEVEX Aerospace to Get New Owner

American private equity firms CoVant Management and Madison Dearborn Partners (MDP) have agreed to acquire a majority stake in AEVEX Aerospace, a US-based provider of airborne intelligence. CoVant and MDP are buying AEVEX from Trive Capital, another US private equity firm. AEVEX’s founder-management team members will retain a “significant”...

American private equity firms CoVant Management and Madison Dearborn Partners (MDP) have agreed to acquire a majority stake in AEVEX Aerospace, a US-based provider of airborne intelligence.

CoVant and MDP are buying AEVEX from Trive Capital, another US private equity firm. AEVEX’s founder-management team members will retain a “significant” ownership position in their company following the acquisition, which is expected to close by the end of March, CoVant and MDP said in a 9 March news release.

Matt Norton, head of MDP’s Business & Government Software & Services team, said that CoVant and MDP plan to help AEVEX continue growing by investing in its “business development and pipeline expansion, technology research and development, and pursuit of strategic acquisition opportunities.”

Source: www.janes.com