Joyce, the Former President & CEO of GE Aviation and Former Vice Chairman of General Electric, Will Also Serve as a Strategic Advisor to the Firm
BOCA RATON, Fla., Jan. 18, 2023 /PRNewswire/ — AE Industrial Partners, LP (“AEI”), a U.S-based private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets, announced today that David L. Joyce, the former President & CEO of GE Aviation and former Vice Chairman of the General Electric Company, will join AEI as Chairman of AE Industrial Partners HorizonX (“AEI HorizonX”), the firm’s venture capital investment platform. Mr. Joyce will also act as a Strategic Advisor to AEI across its entire portfolio of investments and strategies. AEI HorizonX focuses on early-stage equity investments in transformative technologies and businesses that will define the future of aerospace, defense, enterprise and industrial markets.
“David’s career at GE Aviation has been defined by engineering excellence, new product and technology development, and global market leadership – experience that will be instrumental as we look to identify the future of sustainable technology and its integration into industrial markets,” said David Rowe, Managing Partner of AEI. “I look forward to David’s partnership as we continue to build the AEI HorizonX platform, and more broadly with AEI’s specialized market reach. His understanding of the potential for engineering and technology innovation across the industrial landscape is a critical skill that will benefit AEI’s mission.”
Brian Schettler, Partner and Head of AEI HorizonX added, “David’s global reputation as a leader with a strong technical understanding of our key target markets makes him a perfect fit to help us achieve market leadership with our early-stage AEI HorizonX investment platform.”
Mr. Joyce’s 40-year career at GE Aviation, including 12 years leading the business as President and CEO, has spanned a golden era of aviation that included the development of new, fuel-efficient engine technologies, transformative manufacturing materials and processes, and the formation of global alliances solidifying GE Aviation’s world leading position for jet engines, components and integrated systems for commercial aviation and military aircraft. His tenure at GE Aviation will continue to be defined decades into the future by programs developed under his leadership, including initiatives in engine design and innovation, sustainable and hybrid fuel systems, additive manufacturing, and digital tools, among others.
“I have followed the success of AEI since its founding in 1998 by David and Brian Rowe and am excited to join such a strong team of industry experts,” said Mr. Joyce. “I look forward to working with the leadership of AEI HorizonX to build out its venture platform, together with the entire AEI team across its investment portfolio.”
Mr. Joyce earned both BS and MS degrees in mechanical engineering from Michigan State University, and an MBA in business finance from Xavier University. Mr. Joyce is also a member of the National Academy of Engineering and is a Director of The Boeing Company.
About AE HorizonX
AEI HorizonX was formed as Boeing’s corporate venture capital arm in 2017 and is now managed by AE Industrial Partners, a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets, with $5 billion of assets under management.
AEI HorizonX is an active participant in venture capital within its core strategic areas of focus, investing in more than 50 startups globally and building numerous relationships and partnerships across the aerospace, technology, and investing ecosystem. Learn more at www.aeroequity.com/horizon-x/.
About AE Industrial Partners
AE Industrial Partners is a private equity firm specializing in aerospace, defense & government services, space, power & utility services, and specialty industrial markets. AE Industrial Partners invests in market-leading companies that can benefit from our deep industry knowledge, operating experience, and relationships throughout our target markets. AE Industrial Partners is a signatory to the United Nations Principles for Responsible Investment and the ILPA Diversity in Action initiative. Learn more at www.aeroequity.com.
SOURCE AE Industrial Partners