Maxar acquired by Private Equity
May 4, 2023
Advent International has wrapped the purchase of satellite builder Maxar Technologies for $6.4 billion (€5.7bn).
Maxar Technologies was created in 2017 from the combination of MacDonald, Dettwiler and Associates (MDA) and DigitalGlobe, with the resulting company renamed Maxar. Maxar was also the parent of Space Systems Loral (SSL) based in Palo Alto, California. The company’s original Canadian assets were hived off in 2020.
The planned purchase by Advent was announced back in December 2022. The company’s shares have now been de-listed from the NYSE and Toronto stock exchange. Shareholders have received $53 per share.
“With the closing of the transaction, Maxar will remain a US-controlled, owned and operated company,” the company said.
Maxar ended 2022 with revenues of some $2 billion.
Advent International and minority investor British Columbia Investment Management Corporation is expected to help expand Maxar Technologies with additional resources. The company’s expertise in satellite imaging and manufacturing is highly valued in the industry, particularly in the defence sector where it now has a strong presence.