BOCA RATON, Fla., June 11, 2020 /PRNewswire/ -- Redwire, a new leader in mission critical space solutions and high reliability components for a next generation space architecture, announced today that Peter Cannito has been named Chairman and CEO, effective immediately. Mr. Cannito brings more than 25 years of experience in the defense, technology, and government services industries to Redwire.
AE Industrial Partners, LP ("AEI"), a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets, launched Redwire earlier this month through the combination of Adcole Space and Deep Space Systems. Mr. Cannito is also an Operating Partner of AEI, and was instrumental in developing the strategy for the Redwire platform. Steve Bailey will remain as President of the Deep Space Systems business unit and Don Wesson will remain as President of the Adcole Space business unit. Both will report to Mr. Cannito.
As an Operating Partner for AEI, Mr. Cannito helps develop investment strategies for high growth acquisitions and assists portfolio companies in achieving their strategic objectives. Prior to joining AEI, he served as the CEO of Polaris Alpha, a high-tech solutions provider that developed systems for the Department of Defense and Intelligence Community. Mr. Cannito has spent the last 12 years working as an executive for private equity-backed companies in the defense, technology and government services markets.
"We are very pleased to welcome Peter as Chairman and CEO of Redwire," said Kirk Konert, Partner at AEI. "Peter not only has a deep background in defense, technology and government services, but he also has a strong track record of successfully building great companies. We are excited about Redwire's potential, and we are confident in Peter's ability to help create an innovative, world-class company."
"The time couldn't be better to launch Redwire, as we're seeing great demand and a renewed interest in the space economy around the globe," said Mr. Cannito. "I look forward to working with the management team, employees, AEI and our customers to build an agile organization that solves critical challenges associated with the next generation of space technology."
Formed by the combination of Adcole Space and Deep Space Systems, Redwire is a new leader in mission critical space solutions and high reliability components for the next generation space architecture. With decades of flight heritage combined with the agile and innovative culture of a new space platform, Redwire is uniquely positioned to assist its customers in solving the complex challenges of future space missions. For more information, please visit www.redwire.space.
About AE Industrial Partners
AE Industrial Partners is a private equity firm specializing in Aerospace, Defense & Government Services, Power Generation, and Specialty Industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from its deep industry knowledge, operating experience, and relationships throughout its target markets. Learn more at www.aeroequity.com.
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