The private equity firm Madison Dearborn Partners (MDP) and strategic advisory firm CoVant Management on Monday said they have acquired a majority stake in AEVEX Aerospace, a provider of airborne intelligence, surveillance, and reconnaissance (ISR) technology solutions to the Defense Department and intelligence community.

Terms of the deal, which is expected to close this month, were not disclosed. AEVEX is owned by the private equity firm Trive Capital. MDP and CoVant said that the founders and management team of AEVEX will retain a “significant ownership position” in the company.

California-based AEVEX said the acquisition will inject more investment into the company.

“We are excited to welcome the MDP and CoVant teams to AEVEX,” Brian Raduenz, the company’s CEO, said in a statement. “They are the right partners to help us deepen and expand our AISR solutions and are fully aligned with our commitment to empowering people to make the world a safer place. Our new partnership with MDP and CoVant will enable us to accelerate our investment in innovation, attract and retain the very best talent, and provide our customers with the decision advantage they need in dynamic mission environments.”

AEVEX has 600 employees and provides solutions to customers in the Defense Department, Special Operations, and intelligence community. The company’s capabilities include customs solutions design and engineering, sensor sustainment and modification, mission operations services, advanced intelligence data processing, exploitation, and dissemination solutions, and tailored hardware and software airborne ISR mission solutions.

Inc. Magazine last year named AEVEX to its annual list of 5,000 fastest growing private companies with a rank of 1,197. AEVEX said that it has achieved over 345 percent revenue growth in the past three years.

AEVEX’s lead financial adviser on the deal is William Blair and KAL Capital is also providing financial advice.