AE Industrial Partners, LP ("AE Industrial"), a private investment firm focused on technologies and services considered critical to aerospace and national and economic security, today announced that it has acquired a controlling interest in the Space Propulsion and Power Systems business of L3Harris Technologies (NYSE:LHX). The transaction encompasses business units across five locations in the U.S., which have developed the upper-stage rocket engines used in national security, civil and commercial missions for more than 60 years, as well as in-space propulsion, nuclear power and avionics assets.

"Rocketdyne is more than just a company, it is the birthplace of U.S. rocket propulsion," said Kirk Konert, Managing Partner at AE Industrial. "This transaction will not only modernize and give new life to a pioneer of space and national defense technology, but it will also create a new hybrid model of agile collaboration, combining the stability and power of a national defense prime with the innovation of a specialized investor. By taking the historic engine – the RL10 – and applying modern manufacturing discipline, we will honor its design while revolutionizing the production line."

"Our strategy is to identify critical technologies and build them into world-class companies," said Jon Lusczakoski, Principal at AE Industrial. "Rocketdyne's unparalleled heritage offers the perfect foundation for this mission. We see a unique opportunity to apply our deep experience in scaling space systems to this iconic business—ensuring Rocketdyne remains a critical pillar of national security while aggressively evolving to meet the demands of the future."

"The acquisition of Rocketdyne demonstrates AE Industrial's continued commitment to investing in the national security space and space exploration markets," said David Rowe, Co-CEO and Managing Partner at AE Industrial. "Current and previous space investments of AE Industrial include American Pacific Corporation, Calca Solutions, Firefly Aerospace, Redwire Space and York Space Systems. All of these companies are critical market leaders, and the addition of Rocketdyne is a perfect fit to AE Industrial's strategy and portfolio construction."

AE Industrial Partners is a private investment firm with $7.5 billion of assets under management as of September 30, 2025, focused on investing in technologies and services considered critical to national & economic security. Since 2015, AE Industrial has completed more than 140 investments in market-leading companies that benefit from its deep industry knowledge, operating experience and network of relationships across the sectors where the Firm invests (national security, aerospace and industrial services). With a commitment to driving value creation in partnership with the management teams of its portfolio companies, AE Industrial invests across private equity, venture capital and aerospace leasing. AE Industrial is headquartered in Boca Raton, FL, and has an office in Washington, D.C. Learn more at www.aeroequity.com.