Roccor, a Longmont, Colorado firm which deals with deployable spacecraft erections, has been acquired by Redwire. During the merger, Redwire indicated its intent to expand its portfolio to be recognized as one of the leading g space infrastructure companies. The terms of the contract were not disclosed during the announcement.
According to Peter Cannito, the Chairman and CEO of Redwire, Roccor is the kind of entity that Redwire needed to increase its portfolio. He termed Roccor as a company that was proven and growing and consisting of top-tier customers. According to Cannito, Redwire is set on an expansion mode and set to carry out its strategic development by acquiring diversified aptitudes that assist in its space infrastructure strategy. Roccor is a company that was started in 2012, and its operations include the supply of deployable booms, structures, probes, thermal products, and solar ranges for spacecraft. The company’s technology is used in the 75 spaceflight NASA, the United States Defense Department, and commercial space operations.
Chris Pearson, who is the president of Roccor, highlighted Redwire as a company that is exciting and is a front runner in space revolution and progress projects. Pearson, who is expected to retain his current position after the takeover is finalized, further stated that the satellite industry was rapidly evolving, and with the monetary and operational input expected from Redwire and AE Industrial, Roccor will possess the capabilities to be able to keep up with the hassles of the industry which is changing daily. AE Industrial Partners, a private equity company, was responsible for the starting of Redwire in June of this year with the initial acquisition of Deep Space Systems and Adcole Space and then the acquisition of Made In Space.
With the acquisition of Roccor, Redwire has been able to broaden its technological collection to comprise deployable constructions for both commercial and military satellites. The products that Roccor adds to the portfolio include stand-alone booms, axes, solar arrays, and probes, which will play an essential role in driving Redwire to be able to offer more advanced abilities and offer better performance at a relatively lower cost to the clients.
According to AEI Partner Kirk Konert, the build Redwire assembles the best innovators with firms that boost broad aeronautical legacy. According to him, Roccor will bring to the table mare capabilities, a great client list, and a talented workforce necessary to Redwire.