AE Industrial Partners, LP, a private investment firm focused on technologies and services critical to national and economic security, has finalized the acquisition of the space propulsion, power, and electronics units from L3Harris Technologies, and is launching the entity as Rocketdyne. L3Harris will retain a minority stake in the business and continue to be a strategic partner.
"The transaction re-establishes Rocketdyne as an independent company with more than 60 years of spaceflight heritage and a track record across civil, commercial, and national security space," said a company spokesperson. "With demand across the company's markets accelerating, driven by geopolitical competition and record government investment in space, Rocketdyne is meeting this moment with world-class talent, proven technology, and trusted customer relationships already in place. AE Industrial's focused investment and active partnership will support Rocketdyne in deepening its role as an indispensable supplier to the space and defense industrial base."
The new company will be led by Kristin Houston as CEO. Houston previously served as president of the Space Propulsion & Power Systems sector within the Missile Solutions segment of L3Harris, and as president of the Electro Optical Sector within Integrated Mission Systems. Prior to her role at L3Harris, she spent more than 16 years at Boeing with senior roles in engineering and program management.
"From developing some of the first U.S. rocket engines to propelling the fastest human-made object ever built, Rocketdyne has always been at the forefront," said Houston. "As a standalone company, we now have the agility and focus to better serve our customers, invest in our people and capabilities and pursue new opportunities in the rapidly expanding space industry. This milestone would not have been possible without the steadfast support of AE Industrial and the partnership of L3Harris, and we are grateful for the role they are playing in helping launch Rocketdyne's next chapter."
In a statement, Jon Lusczakoski, Partner at AE Industrial, said, "Rocketdyne has always been a special name in the space industry, and we are honored to help steward its return as a standalone company. Rocketdyne will now have the agility to invest in and scale its core businesses, driving the next generation of space mobility, power, and electronics. Kristin is a proven leader who knows how to grow technology businesses by strengthening customer relationships, innovating new solutions and building high-performing teams. We are excited to have her stepping into this role as she guides this iconic brand into its most exciting era yet."
AE Industrial will provide investment in Rocketdyne's core capabilities, including upgrading the technology and manufacturing of the RL10 rocket engine, ramping up production of in-space propulsion thrusters, and advancing nuclear power and energy solutions for space applications.
For more information contact:
AE Industrial Partners
6700 Broken Sound Pkwy. NW
Boca Raton, FL 33487
561-372-7820
info@aeroequity.com
www.aeroequity.com
Rocketdyne
17900 Bee Line Hwy.
Jupiter, FL 33478
561-882-5150
www.rocketdyne.com