Kirkland Advises AEVEX on Acquisition of BlackSea Technologies
Kirkland & Ellis represented AEVEX Corp., a leading U.S. defense technology company specializing in autonomous systems, AI‑enabled mission software and advanced ISR and electronic warfare solutions, on its definitive agreement to acquire BlackSea Technologies, one of the largest providers of unmanned surface and subsea vessels in the U.S. defense market. Under the terms of the agreement, AEVEX will acquire BlackSea for up to $650 million on a cash‑free, debt‑free basis, consisting of approximately $250 million in cash, approximately $350 million in shares of Class A common stock of AEVEX priced at $27.50/share (approximately 12.7M shares). The transaction also includes $50 million in performance‑based earnout consideration. The acquisition is expected to close in September 2026, subject to the expiration of the waiting period under the Hart-Scott Rodino Antitrust Improvements Act of 1976 and the satisfaction of other customary closing conditions.
Read the transaction press release
The Kirkland team included corporate lawyers Kevin Stocks and Jon-Micheal Wheat; capital markets lawyer Bob Hayward; and tax lawyer Christine Lehman.
