Acorn Growth Companies Completes Exit of Black Sage Technologies

OKLAHOMA CITY, Feb. 14, 2023 /PRNewswire/ -- Acorn Growth Companies ("Acorn"), a private equity firm exclusively investing in aerospace, defense, intelligence, and space, today announced the sale of Black Sage Technologies, a leading provider of counter-unmanned aerial systems (C-UAS) and technologies, to Highlander Partners.

Black Sage Technologies has established itself as a leader in the C-UAS market, providing cutting-edge solutions to defend against unmanned aerial system threats in both military and commercial environments. The company has experienced significant growth and success during Acorn's investment period, and the sale to Highlander Partners represents a strategic opportunity for continued growth and expansion.

Notably, Acorn's investment in Black Sage allowed the company to expand its presence within the U.S. defense sector. This was achieved through strategic capital investments and the establishment of key relationships within the industry. Additionally, Acorn led key management and operational improvements, designed to unleash the company's capacity to innovate, expand its product line, and increase its production capabilities to satisfy growing demand. Simultaneous investments in critical business systems enabled the company to achieve and maintain the level of cost and process visibility, and the discipline necessary to succeed in the highly competitive U.S. defense sector.

"We are thrilled to have had the opportunity to support the growth and success of Black Sage Technologies," said Acorn partner & COO, Darryl Wilkerson. "This sale to Highlander Partners is a testament to the hard work and dedication of the Black Sage team, and we are confident that they will continue to drive innovation and success in the C-UAS market."

Financial terms of the transaction were not disclosed.

About Acorn Growth Companies
Acorn Growth Companies is a middle market private equity firm focused exclusively on Aerospace, Defense, and Intelligence. Acorn invests solely in operating companies that strive to enhance global mobility and protect national interests. Acorn has a formidable reputation in the industry and is recognized for its deep understanding of the Aerospace, Defense, and Intelligence markets, with proprietary access to the best companies within these sectors. With operational expertise and its ability to lead and manage investments through variable economic and industry cycles, Acorn works in tandem with management to build its portfolio companies into significant market leaders. More information can be found at AcornGrowthCompanies.com 

About Highlander Partners
Highlander Partners, L.P. is a Dallas-based private investment firm with approximately $3 billion of assets under management. The firm focuses on making investments in businesses in targeted industries in which the principals of the firm have significant operating and investing experience. Highlander Partners uses a buy and build investment approach, creating value by helping companies grow both organically and through acquisitions. For more information, visit www.highlander-partners.com.

About Black Sage Technologies
Black Sage Technologies is a leading technology manufacturer and integrator of multi-mission C-UAS and security solutions that are designed to protect lives and critical infrastructure from threats around the world. The Company's platforms are powered by an industry-leading, proprietary operating system, DefenseOS. This AI-driven, open architecture command and control software suite fuses layered sensor data and automates the C-UAS kill chain. Along with the integration of over 40 sensor and effector systems, Black Sage continues to deliver leading technologies and solutions to its customers. For more information, visit www.blacksagetech.com.

For more information, please contact:

Acorn Growth Companies
Greg Agnew, Partner 
(202) 257-6744
Gagnew@acorngc.com

Highlander Partners
Ben Slater, Partner and COO
(646) 512-3339
bslater@highlander-partners.com

Black Sage Technologies
Al White, President
(512) 289-0216
al.white@blacksagetech.com

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