AE Industrial Partners (AEIP), a private equity firm specializing in aerospace, defense and government services, power generation and specialty industrial markets, has acquired Adcole Maryland Aerospace (AMA), of Crofton, which designs, manufacture, test, and integration of critical spacecraft components and small satellites, from Adcole Corp., a portfolio company of Artemis Capital Partners.

Terms of the transaction were not disclosed. AMA represents the eighth platform investment closed by AEIP in the last 12 months.

Based in Marlborough, Massachusetts, AMA has served the space exploration sector since its beginning in 1957, providing satellite components for hundreds of low-earth orbit (LEO), geosynchronous (GEO) and interplanetary spacecraft. The company’s core capabilities include the design and manufacture of mission-critical, high reliability optical sensors for satellites providing guidance, navigation, situational awareness and control capabilities. Key products include sun sensors, star trackers, and star cameras.

“AMA has remained at the forefront of a constantly evolving industry because we are continually investing in state-of-the-art equipment and processes, while drawing on our deep heritage and industry expertise,” said Don Wesson, Jr., general manager of AMA’s Components Division. “We are excited to build upon our successful heritage and team with a dedicated specialist investor like AEI who will partner with us through our next chapter of growth.”