Aetos Group, the unmanned vehicle startup launched by Northwestern Michigan College aviation colleagues, has been acquired by The Mistras Group, a New Jersey-based, publicly-traded company.
The Mistras Group is a global leader in technology-enabled asset protection solutions used to evaluate the structural integrity of critical energy, industrial and public infrastructure. The acquisition is expected to allow Aetos, which will be a wholly owned subsidiary, the resources to accelerate the company’s growth in serving those industries.
Aetos had just recently received its FAA Section 333 exemption, allowing it to use unmanned vehicles — or drones — to conduct inspections of facilities like oil rigs or pipelines.
Aetos Co-founders Aaron Cook, Tony Sauerbrey, and Nick Harwood signed employment contracts with Mistras and have relocated to Houston. CEO Bill Donberg will consult with Mistras.
“Aetos is excited about growing that relationship which will lead to job opportunities for NMC students, a source of highly trained talent for Aetos and an industry/academic conduit for both organizations,” Donberg tells The Ticker.
Source: The Ticker
Original Article: Local Aviation Startup Sold To Public Company