Advent International, a Boston-based global private equity investor, has acquired Maxar Technologies, a space services and geospatial intelligence company, in an all-cash transaction valued at $6.4 billion.
Maxar works to benefit from the resources, experience and capacity for investment provided by Advent. As a private company, Maxar aims to drive investments in satellite technologies and data insights as well as pursue strategic mergers and acquisitions to expand the company’s portfolio of services. British Columbia Investment Management Corp. has also provided a minority equity investment through a committed aggregate equity contribution equal to $1 billion.
“We will prioritize Maxar’s commitment as a core provider to the U.S. defense and intelligence communities, and allies, while providing Maxar with the financial and operational support necessary to apply its technology and team members even more fully to the missions and programs of its government and commercial customers,” says David Mussafer, chairman and managing partner of Advent.
J.P. Morgan Securities LLC is serving as financial advisor to Maxar and Wachtell, Lipton, Rosen & Katz is serving to counsel to Maxar. Milbank LLP is serving as Maxar’s legal advisor. Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are serving as financial advisors to Advent and Weil, Gotshal & Manges LLP is serving as counsel to Advent. Covington & Burling LLP is serving as Advent’s legal advisor. Skadden, Arps, Slate, Meagher & Flom LLP is serving as counsel to BCI. Freshfields Bruckhaus Deringer LLP is serving as BCI’s legal advisor.