AEVEX to Scale Air & Maritime Autonomy with New Acquisition

AEVEX Corp. has entered into a definitive agreement to acquire unmanned vessel provider BlackSea Technologies for up to $650 million on a cash-free, debt-free basis.

The purchase price comprises approximately $250 million in cash, roughly $350 million in AEVEX Class A common stock priced at $27.50 per share (representing approximately 12.7 million shares), and $50 million in performance-based earnout consideration. Subject to customary closing conditions and the expiration of the waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, the transaction is expected to close in September 2026.

As a defense technology enterprise specializing in autonomous systems, AI-enabled mission software, and advanced ISR and electronic warfare solutions, AEVEX aims to expand its domain footprint across air, surface, and subsea operations. BlackSea Technologies brings a 57,000-square-foot production facility in Baltimore featuring deepwater access and automated robotic welding capable of outputting approximately 40 unmanned surface vessels per month.

The combined platform will form a broad autonomous systems portfolio spanning Groups I-V unmanned aerial systems, unmanned surface vessels, unmanned underwater vessels, contested logistics platforms, long-range ISR assets, and deployable additive manufacturing. AEVEX plans to integrate its CompassX autonomy ecosystem with select BlackSea maritime craft to provide multi-domain coordination, assured navigation in GPS-denied environments, and rapid payload integration.

BlackSea is projected to generate $150 million in revenue for fiscal year 2026, with profit margins aligned with AEVEX. The combined customer footprint spans the Department of Warfare, Naval programs, SOCOM, the Intelligence Community, and international defense allies. Mission continuity for all active contracts and procurement programs will remain uninterrupted throughout the transition.

“BlackSea brings exceptional and strategically aligned maritime capability, but just as importantly, it brings a culture of mission focus and ingenuity that reflect the very roots of AEVEX,” said Brian Raduenz, Founder and Executive Chairman of AEVEX. “Collectively, we are defined by our people, our values, and our impact on national security. Welcoming BlackSea will be a natural fit, and I am proud of what our teams have built together to make it possible.”

“This is exactly the kind of acquisition that aligns with our strategic priorities,” said Roger Wells, Chief Executive Officer of AEVEX. “BlackSea adds meaningful maritime scale to our mission with operationally proven platforms, deep customer relationships, and real production capacity that matches customer requirements. Together, we intend to create one of the largest pure‑play multi‑domain autonomous systems providers, delivering effects to the battlefield across air, surface, and subsea domains.”

“Joining AEVEX is a natural next step for BlackSea,” said Bob Pudney, Chief Executive Officer of BlackSea. “We’ve spent years building and deploying autonomous maritime systems in real‑world environments, from hybrid fleet operations to contested logistics, and AEVEX brings the scale, manufacturing depth, and autonomy ecosystem needed to accelerate everything we’ve built. Our mission stays the same; our ability to deliver it grows.”

Advising on the transaction, Jefferies LLC serves as financial advisor to AEVEX, with Kirkland & Ellis LLP and Crowell & Moring LLP acting as legal counsel. Raymond James serves as exclusive financial advisor to BlackSea Technologies, with Cooley LLP acting as legal counsel.