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SolAero Technologies Corp., a leading provider of satellite solar power and structural solutions, has acquired San Diego, Calif.-based Vanguard Space Technologies, Inc., also a provider of aerospace structural products and assemblies. SolAero is owned by an affiliate of Veritas Capital, a private equity firm based in New York. Vanguard is a portfolio company of Enlightenment Capital, a private investment firm based in the Washington, DC area. In connection with this transaction, Enlightenment acquired a minority equity stake in SolAero. In April 2015, SolAero acquired Alliance Spacesystems LLC, a California-based maker of high performance composite structures for space applications, expanding SolAero’s employee base from 280 to 400. In December 2014, SolAero bought Emcore Corp.’s solar space division for $150 million. Vanguard has a proven history of delivering satellite structural components and assemblies for commercial, defense, and civil satellites to customers around the world. The company was founded in 1994 and has successfully delivered over 200 products for over 50 spacecraft with 100% mission success. Vanguard was acquired as a wholly-owned subsidiary of SolAero, but will be operated under the Alliance Spacesystems brand name. While the acquisition of Vanguard offers key synergy opportunities for the company, no near-term changes to any of the companies’ operations are planned as a result of the transaction. “We are delighted to add Vanguard to the SolAero family. This acquisition combines highly complementary core businesses to create a stronger company that will drive value for our worldwide customer base,” said Brad Clevenger, CEO of SolAero. “We look forward to continuing to bring innovative and cost-effective solutions to all of our customers across all lines of business.” “Vanguard is pleased to be joining the SolAero team. We have established a great working relationship over the years working on joint projects. This acquisition will consolidate the capabilities and resources of Alliance and Vanguard, and Vanguard’s extensive engineering heritage will enhance SolAero’s portfolio of products and services to the space structures industry,” said Frank Belknap, CEO of Vanguard. SolAero Technologies is the leading provider of solar cells and solar panels to satellite and spacecraft OEMs. The business was founded in 1998 and is the world’s leading provider of space solar power solutions. Since 2001, SolAero products have powered 160 successful space missions with zero on-orbit failures. The Company’s proven manufacturing capability, technology leadership and unsurpassed reliability make SolAero the supplier of choice for demanding space programs. SolAero is headquartered in Albuquerque, N.M. and employs approximately 250 people. Alliance Spacesystems LLC is a wholly owned subsidiary of SolAero Technologies Corp and the premier manufacturer of composite structures for spacecraft and other high-tech applications where strength-to-weight ratio, superior stiffness and dimensional stability are key requirements. Alliance is headquartered in Los Alamitos, Calif. Veritas Capital is a leading private equity firm that invests in companies that provide critical products and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide, including those operating in the aerospace & defense, healthcare, technology, national security, communications, energy, and education industries. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means. The firm was founded in 1992 and is based in New York, N.Y., with an additional office in Washington, DC. Enlightenment Capital is a private investment firm that provides flexible capital solutions to middle market businesses in the Aerospace, Defense & Government (ADG) sector. The firm partners with management teams, equity sponsors, and those businesses that provide vital services, protect critical infrastructure, innovate cyber and data solutions, engineer aerospace systems, safeguard national security, and endeavor to meet the challenges of today and tomorrow.]]>