AEVEX Corp. has signed a definitive agreement that gives it the right to buy BlackSea Technologies (BlackSea), which is one of the leading providers of unmanned surface and subsea vessels in the United States’ defense industry.
As per the provisions of the agreement, AEVEX will acquire BlackSea for up to $650 million in a debt- and cash-free transaction. In consideration of the payments, there will be a payment of $250 million in cash, payment of $350 million in AEVEX Class A common stock ($27.50 per share, or approximately 12.7 million shares), and an earnout payment of up to $50 million.
The closing of the agreement is conditional upon the expiration of the waiting period as per the Hart-Scott-Rodino Antitrust Improvements Act of 1976 and other regulatory closing conditions. The agreement is expected to close by September 2026.
Strategic Rationale: Delivering Defense Technology at Scale
The combination cements AEVEX’s presence in multi-domain autonomous systems by uniting air, surface, and subsea operational capabilities. Key strategic advantages of the unified entity include:
Scaled Multi-Domain Portfolio: Integrates AEVEX‘s aerial capabilities with BlackSea’s naval platforms to deliver end-to-end hardware and software offerings across air, surface, and undersea operational environments.
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Combat-Proven Autonomy: Leverages operational field experience from both companies across Intelligence, Surveillance, and Reconnaissance (ISR), precision strike, and hybrid fleet logistics in contested operational environments.
Manufacturing and Industrial Scale: Combines AEVEX’s high-volume uncrewed systems (UxS) production infrastructure with BlackSea’s advanced maritime production facilities, equipped with deepwater access and robotic welding capacity capable of manufacturing approximately 40 Unmanned Surface Vessels (USVs) per month.
Expanded Defense Customer Footprint: Broadens existing prime-contract relationships across the Department of Defense (DoD), U.S. Special Operations Command (SOCOM), the Intelligence Community (IC), and international allied defense partners.
“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.”
“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.”
“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.”
Accelerating Growth Across Naval and Unmanned Systems Markets
The acquisition addresses critical operational priorities for AEVEX by directly expanding its maritime autonomy market share. Integrating BlackSea’s specialized unmanned subsea and surface systems allows AEVEX to unlock addressable naval procurement programs that were previously inaccessible, establishing a pure-play defense contractor with multi-year program visibility.
Together, the unified product catalog will cover Groups I through V Unmanned Aerial Systems (UAS), Unmanned Surface Vessels (USVs), Unmanned Undersea Vessels (UUVs), long-range ISR platforms, mission autonomy software suites, and deployable additive manufacturing systems.