Yellowstone Midco Holdings II, LLC Business Summary

Yellowstone Midco Holdings II, LLC, which transitioned to York Space Systems, Inc. (NYSE: YSS) following its January 2026 initial public offering, operates as a high-growth aerospace and defense prime contractor specializing in the mass production of small satellite infrastructure. The company generates revenue through a combination of fixed-price government contracts, commercial satellite program fees, and recurring software-enabled services tied to its proprietary flight software and mission operations centers. Its primary business segments include the design and manufacturing of standardized spacecraft platforms—specifically the S-CLASS, LX-CLASS, and M-CLASS series—and the provision of turnkey mission solutions, including ground station autonomy and end-to-end data collection. York Space Systems currently serves as a lead provider for the U.S. Department of Defense’s Proliferated Warfighter Space Architecture (PWSA), positioning itself as a low-cost, high-speed alternative to legacy aerospace firms. Its primary direct competitors include Rocket Lab (RKLB), Redwire Corp. (RDW), and Kratos Defense & Security Solutions (KTOS), against whom it maintains a competitive edge by delivering mission-ready systems at approximately half the cost and significantly faster deployment timelines than traditional industry incumbents. The company was founded in 2012 by Dirk Wallinger, who continues to lead as Chief Executive Officer and President, bringing a pedigree in spacecraft design and strategic deployment from his prior tenure at major aerospace firms. The current executive leadership team includes Michael Lajczok as Chief Technology Officer, Kevin Messerle as Chief Financial Officer, and Melanie Preisser as Executive Vice President and General Manager. Other key officers include Monica J. Palko (Chief Legal and Administrative Officer), Devjyoti Rudra (Chief Supply Chain Officer), and Brian D. Frantz (Chief Accounting Officer). York Space Systems is a controlled company backed by majority shareholder AE Industrial Partners, with additional institutional support from BlackRock. Its board of directors is chaired by Kirk Konert and features notable members such as former Verizon executive Tamra Erwin, retired General James McConville, and Andrew Boyd, reflecting a strategic blend of private equity expertise and high-level military and telecommunications experience.