SOLANA BEACH, Calif., August 13 — AEVEX Corp. (NYSE: AVEX), a leading U.S. defense technology company specializing in autonomous systems, AI‑enabled mission software, and advanced ISR and electronic warfare solutions, announced today that it has signed a definitive agreement to acquire BlackSea Technologies (BlackSea), one of the largest providers of unmanned surface and subsea vessels in the U.S. defense market.
Under the terms of the agreement, AEVEX will acquire BlackSea for up to $650 million on a cash‑free, debt‑free basis, consisting of approximately $250 million in cash and approximately $350 million in shares of Class A common stock of AEVEX priced at $27.50/share (approximately 12.7M shares). The transaction also includes $50 million in performance‑based earnout consideration. The acquisition is expected to close in September 2026, subject to the expiration of the waiting period under the Hart-Scott Rodino Antitrust Improvements Act of 1976 and the satisfaction of other customary closing conditions.
Strategic Rationale: Delivering Defense Technology at Scale
This acquisition is expected to expand AEVEX’s leadership in multi‑domain autonomous systems.
- Scaled Product and Technology Lineup. AEVEX and BlackSea together will deliver a leading portfolio spanning air, surface, and subsea domains.
- Combat‑Proven Autonomy. Both companies’ systems have validated performance in contested, real‑world missions spanning ISR, precision strike, and hybrid fleet operations.
- Scalable Manufacturing Advantage. AEVEX’s high volume UxS production capabilities will combine with BlackSea’s state of the art facilities with deepwater access, robotic welding, and capacity for approximately 40 USVs per month.
- Trusted National Security Partner. The companies will strengthen each other’s support of DoW, SOCOM, IC, and allied program needs via existing customer relationships and past performance.
This transaction is expected to directly advance AEVEX’s strategic priorities by:
- Expanding AEVEX’s maritime autonomy footprint.
- Integrating complementary technology and capability across air, surface, and subsea platforms.
- Broadening customer access across the Navy, SOCOM, IC, and international partners.
- Diversifying revenue streams and program exposure with multi‑year visibility.
- Strengthening relevance to DoW priorities and potential future procurement pathways.
Transaction Highlights
Creates One of the Largest Multi‑Domain Autonomous Systems Providers
AEVEX and BlackSea together will form one of the industry’s most comprehensive autonomous systems portfolio, spanning Groups I-V UAS, USVs, UUVs, contested logistics vessels, long‑range ISR platforms, mission autonomy software, and deployable additive manufacturing.
Adds Market‑Leading Maritime Scale in Unmanned Surface and Subsea Vessels
BlackSea’s Navy customer base opens a major portion of the U.S. maritime autonomy market to which AEVEX previously did not have access, expanding the company’s addressable market across the USV and UAS categories.
Leverages AEVEX’s Integrated Autonomy Stack
AEVEX intends to integrate the CompassX autonomy ecosystem with certain BlackSea maritime platforms, enabling multi‑domain coordination, assured navigation in GPS‑denied environments, and rapid payload integration across air and maritime systems.
Expands and Diversifies Domestic Production Capacity
AEVEX’s U.S. manufacturing scale will combine with BlackSea’s 57,000‑sq‑ft Baltimore production facility featuring deepwater access and advanced robotics. This combined manufacturing depth is expected to enable rapid delivery at an operationally relevant tempo for the DoW and allied customers.
Enhances Revenue Visibility and Growth Profile
BlackSea is expected to generate $150 million in FY 2026 revenue, with margins in line with AEVEX’s. In addition, BlackSea is expected to bring multi‑year contract visibility, supporting an expectation of above-market growth in FY 2027 and beyond.
Strengthens Customer and Program Exposure
The AEVEX and BlackSea combination will unite complementary customer sets, accelerating BlackSea’s growth through AEVEX’s established access while diversifying AEVEX’s multi‑domain program mix.
Mission continuity to remain uninterrupted for customers, vendors, and contracted programs throughout integration.