ThayerMahan Closes on $10 Million in Financing from AE Industrial Partners
GROTON, Conn. and BOCA RATON, Fla., May 4, 2020 /PRNewswire/ -- ThayerMahan Inc. ("ThayerMahan"), a leading maritime technology company providing autonomous marine sensing solutions, announced that it closed on $10 million of new financing from AE Industrial Partners Structured Solutions I, LP ("AEI Structured Solutions"), an affiliate of AE Industrial Partners, LP ("AEI"), a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets.
This represents the first investment out of the new AEI Structured Solutions fund and the 45th announced transaction by AEI since 2015. ThayerMahan will use the capital to accelerate growth through acquisitions and expand operations and research and development. Terms of the transaction were not disclosed.
ThayerMahan provides government and commercial clients with turn-key autonomous marine solutions using state-of-the-art acoustic and electronic sensors integrated on a variety of host platforms tailored to specific mission criteria. ThayerMahan is at the forefront of the paradigm shift in maritime security, leveraging the rapid acceleration of advancements in robotic miniaturization, globally accessible digital communications, and artificial intelligence to drive down costs and supplement the capabilities of traditional maritime operations. In addition, the Company's 'Search as a Service' offering allows its customers in government, industry, and academia to quickly access the latest technology and get the information they need.
Kirk Konert, Partner at AEI stated:
"ThayerMahan's technology and strong value proposition in maritime domain awareness impressed our firm. We are excited to partner with a world-class team that is uniquely positioned to address an important market need and challenge," said Kirk Konert, Partner at AEI. "The growing demands for cost-effective autonomous solutions, as well as trends in distributed operations, will only accelerate ThayerMahan's growth."