ThayerMahan to use new financing to accelerate growth, expand operations and R&D

May 7, 2020

Maritime technology company ThayerMahan Inc. has closed on $10 million of new financing from AE Industrial Partners Structured Solutions I, LP (AEI Structured Solutions), which is an affiliate of private equity firm AE Industrial Partners, LP (AEI).
ThayerMahan will use the capital to accelerate growth through acquisitions and expand operations and research and development.
“AEI is the right partner for ThayerMahan at this stage in our development.” says Mike Connor, ThayerMahan’s co-founder and CEO, and retired Vice Admiral of the US Navy.
“As we built this company, we assembled a talented group of Sailors, Marines, Soldiers, and Coastguardsmen and combined them with top-flight engineers with experience in shipbuilding, autonomy, and data science to create something unique. Our success to date has also been enabled by forward-leaning customers and venture investors. Now, AEI’s financial backing and experienced management team will help us scale effectively to provide even more value for our customers.”
ThayerMahan uses state-of-the-art acoustic and electronic sensors integrated on various host platforms tailored to specific mission criteria to provide turn-key autonomous marine technologies for government and commercial clients. To drive down costs and supplement the capabilities of traditional maritime operations, the company leverages advancements in robotic miniaturization, globally accessible digital communications, and artificial intelligence.
ThayerMahan also has a ‘Search as a Service’ offering, through which it offers its customers in government, industry, and academia the ability to quickly access the latest technology and get the information they need.
“ThayerMahan’s technology and strong value proposition in maritime domain awareness impressed our firm. We are excited to partner with a world-class team that is uniquely positioned to address an important market need and challenge,” says Kirk Konert, Partner at AEI.
“The growing demands for cost-effective autonomous solutions, as well as trends in distributed operations, will only accelerate ThayerMahan’s growth.”