AEVEX Corp., Solana Beach, Calif., has closed its acquisition of BlackSea Technologies, completing the up to $650 million deal announced last month to expand AEVEX’s presence in maritime autonomous systems.
BlackSea, Baltimore, will operate as AEVEX’s Maritime Systems division, with former BlackSea CEO Bob Pudney continuing to lead the business, AEVEX said Sept. 8.
The initial agreement, disclosed in August, called for AEVEX to pay approximately $250 million in cash and $350 million in shares of Class A common stock, with another $50 million tied to performance-based earnout consideration.
BlackSea develops unmanned surface and subsea vessels for U.S. defense customers. AEVEX said the company has delivered more than 350 unmanned surface vessels and accumulated more than 25,000 operational hours, including support for U.S. Navy 5th Fleet operations.
BlackSea operates a 57,000-sq.-ft. manufacturing complex in Baltimore with deepwater access, two 30-ton bridge cranes, robotic welding capabilities, and production capacity of approximately 40 USVs per month.
The acquisition adds BlackSea’s maritime systems and production operation to an AEVEX portfolio that already includes unmanned aircraft, long-range precision strike systems, contested logistics capabilities, intelligence, surveillance and reconnaissance platforms, and mission autonomy software.
AEVEX plans to combine its CompassX autonomy technology with BlackSea’s maritime platforms as it develops systems capable of operating across the air, surface, and subsea domains.
“With demand for autonomous systems accelerating globally, customers are prioritizing providers who can deliver field-proven capability at scale,” said Roger Wells, CEO of AEVEX. “BlackSea brings one of the Navy’s most operationally deployed unmanned surface systems, significant production capacity, and trusted customer relationships.”
AEVEX said BlackSea will maintain its current operating structure as the companies begin integrating their technologies. Existing work supporting U.S. Navy, U.S. Special Operations Command, intelligence community, and allied programs is expected to continue without interruption.
“Becoming part of AEVEX allows BlackSea to scale our impact across maritime missions while preserving the engineering depth, operational rigor, and customer intimacy that define our culture,” Pudney said. “Our teams are energized to begin the next chapter together, one that strengthens our support for warfighters and brings even greater capability to our customers.”
