AEVEX Corp. is moving deeper into maritime autonomy with an agreement to acquire BlackSea Technologies, a Baltimore manufacturer of unmanned surface and subsea vessels, in a deal valued at up to $650 million.
Solana Beach, Calif.-headquartered AEVEX will pay approximately $250 million in cash and $350 million in shares of its Class A common stock, with another $50 million tied to performance-based earnout consideration. The transaction is expected to close in September, subject to antitrust review and other customary closing conditions.
The acquisition would add BlackSea’s unmanned maritime portfolio and Baltimore production operation to AEVEX’s existing autonomous systems business, which spans unmanned aircraft and vessels, mission software, intelligence, surveillance and reconnaissance, and electronic warfare systems.
BlackSea operates a 57,000-sq.-ft. manufacturing facility in Baltimore with deepwater access, robotic welding capabilities, and production capacity of approximately 40 unmanned surface vessels per month, according to AEVEX.
The company develops surface and subsea vessels for U.S. defense customers, with systems used in missions including ISR, contested logistics, and hybrid fleet operations. AEVEX said the acquisition will also expand its access to U.S. Navy, U.S. Special Operations Command, intelligence community, and international defense programs.
“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.”
AEVEX plans to integrate its CompassX autonomy technology with certain BlackSea maritime platforms. The company said the combination is intended to support coordination between air and maritime systems, navigation in GPS-denied environments, and rapid payload integration.
“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.”
BlackSea is expected to generate approximately $150 million in fiscal 2026 revenue. AEVEX said the company also brings multi-year contract visibility and will diversify its exposure across maritime and other autonomous defense programs.
The companies said customer, vendor, and contracted program work will continue without interruption during the integration.
“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.”
