Investors want to sell an aerospace company with Ukrainian roots for $1.5B.
Friday, May 24, 2024
Investors in the Ukrainian-American manufacturer of rockets and lunar landing modules, Firefly Aerospace, are considering selling it for about $1.5B. Investors including the American private investment company AE Industrial Partners are working on strategic options for Firefly.
However, the company, which is expected to attract interest from private equity firms and peers in the space industry, may yet abandon the sale. AE invested $75M in Texas-based Firefly in a Series B funding round in 2022. In November 2023, the company made the next investment and backed the company in deals, including the 2023 acquisition of Spaceflight Inc., a satellite developer and launch services broker.
It should be noted that the single-use Firefly Alpha rocket has contracts to launch satellites for the US Department of Defense and NASA and commercial satellite operators.
Firefly also plans to launch its Blue Ghost lunar lander on a flight to the moon this year in conjunction with NASA.
Investors Contemplate Selling Firefly Aerospace for $1.5 Billion
Investors in Firefly Aerospace Inc. are reportedly considering selling the company for a value of around $1.5 billion, according to anonymous sources. This news comes as Firefly continues to make significant advancements in the aerospace industry.
Firefly Aerospace is an American privately held aerospace company that manufactures vehicles for commercial launches to orbit. The company has garnered attention from investors, including the US private investment company AE Industrial Partners, who have been exploring strategic alternatives for Firefly with the assistance of a financial advisor.
While a sale may not proceed, it is expected that both private equity investors and counterparts in the space industry will show interest in Firefly.
Firefly Aerospace is an American privately held aerospace company that manufactures vehicles for commercial launches to orbit. The company has garnered attention from investors, including the US private investment company AE Industrial Partners, who have been exploring strategic alternatives for Firefly with the assistance of a financial advisor.
While a sale may not proceed, it is expected that both private equity investors and counterparts in the space industry will show interest in Firefly.
The company’s value has been steadily increasing since Ukrainian businessman Max Polyakov rescued it from bankruptcy in 2017 and made substantial investments.
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- In 2022, AE Industrial Partners invested $75 million in Firefly as part of its Series B fundraising efforts.
- This was followed by an additional investment in the Series C financing round, establishing the company’s valuation at $1.5 billion.
Firefly has made strategic acquisitions in recent years, including the 2023 purchase of Spaceflight Inc., a company specializing in satellite development and coordinating launch services. This acquisition has expanded Firefly’s capabilities and positioned the company as a key player in the aerospace industry.
The company’s Alpha rocket, designed for single use, has secured contracts to deploy satellites for the Department of Defense, NASA, and various commercial satellite providers. This demonstrates Firefly’s credibility and reliability in delivering payloads to orbit.
In addition to its commercial contracts, Firefly has ambitious plans for space exploration. The company intends to launch its Blue Ghost spacecraft to the Moon later this year, equipped with scientific tools for an upcoming NASA mission. This mission showcases Firefly’s commitment to advancing space exploration and contributing to scientific discovery.
Firefly’s progress and success have not gone unnoticed, attracting the attention of potential investors and partners. The current contemplation of a sale highlights the confidence in Firefly’s future prospects and the potential for significant returns on investment.
While spokespeople for AE Industrial Partners and Firefly have chosen not to comment on the matter, it is clear that Firefly Aerospace has positioned itself as a frontrunner in the aerospace industry. The company’s strategic investments, successful operations, and ambitious plans for space exploration make it an attractive prospect for investors looking to capitalize on the growing commercial space sector.
As the space industry continues to expand and evolve, companies like Firefly Aerospace are at the forefront of innovation and exploration. With potential investors contemplating a sale, Firefly’s value and influence are set to soar even higher, solidifying its position as a key player in the new frontier of space.
While spokespeople for AE Industrial Partners and Firefly have chosen not to comment on the matter, it is clear that Firefly Aerospace has positioned itself as a frontrunner in the aerospace industry. The company’s strategic investments, successful operations, and ambitious plans for space exploration make it an attractive prospect for investors looking to capitalize on the growing commercial space sector.
As the space industry continues to expand and evolve, companies like Firefly Aerospace are at the forefront of innovation and exploration. With potential investors contemplating a sale, Firefly’s value and influence are set to soar even higher, solidifying its position as a key player in the new frontier of space.
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Aerospace company of former Ukrainian owner listed for sale for $1.5 billion
Investors of the Firefly Aerospace company, once owned by Ukrainian businessman Max Polyakov from 2017 to 2022, are contemplating selling the company
Sources indicate that the value of the satellite and lunar lander manufacturer could be around $1.5 billion.
The company, expected to attract interest from private equity firms and industry peers, might ultimately decide against the sale, Bloomberg sources claim.
REFERENCE
Firefly Aerospace is a private aerospace company headquartered in Austin, Texas. It was established based on Firefly Space Systems, which was acquired and relaunched by Ukrainian entrepreneur and Noosphere Ventures founder Max Polyakov in 2017. The company had an office in Dnipro, Ukraine.In February 2022, Polyakov exited the Firefly Aerospace project at the request of the US government, transferring his 58% stake to his partner Thomas Markusic for $1
Representatives from AE and Firefly Aerospace declined to comment.
AE invested $75 million in Firefly during a Series B funding round in 2022. In November 2023, the firm made a subsequent investment during a Series C round, valuing the company at $1.5 billion.
Firefly's Alpha rocket has contracts to launch satellites for the Department of Defense and NASA, as well as for commercial satellite operators.
Additionally, Firefly plans to launch the Blue Ghost lunar lander later this year, carrying scientific instruments as part of a NASA program.
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Firefly Aerospace Backers Explore $1.5 Billion Sale
- Space company’s investors include AE Industrial Partners
- Firefly has contracts to launch satellites, moon lander
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