- According to terms of the deal, Advent will acquire Maxar for $53 per share in cash
- JP Morgan Securities is serving as financial advisor to Maxar, while Goldman Sachs and Morgan Stanley are serving as financial advisors to Advent
- As of September 30, 2022, Advent had $89 billion in assets under management
Advent International has acquired Maxar Technologies, a geospatial intelligence company, in a take-private $6.4 billion deal. When the deal closes, Maxar will no longer trade on the New York Stock Exchange and the Toronto Stock Exchange.
According to terms of the deal, Advent will acquire Maxar for $53 per share in cash.
Advent is taking a $3.1 billion stake in Maxar, with British Columbia Investment Management Corp also making a $1 billion equity contribution.
“We have tremendous respect and admiration for Maxar, its industry-leading technology and the vital role it serves in supporting the national security of the United States and its allies around the world,” said David Mussafer, chairman and managing partner of Advent in a statement. “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.”
Maxar will continue to operate under the same brand and maintain its current headquarters in Westminster, Colorado.
JP Morgan Securities is serving as financial advisor to Maxar, while Goldman Sachs and Morgan Stanley are serving as financial advisors to Advent.
Advent was founded in 1984 and is based in Boston. As of September 30, 2022, the firm had $89 billion in assets under management. The firm focuses on investments in five core sectors, including business and financial services; health care; industrial; retail, consumer and leisure; and technology.
British Columbia Investment Management Corp is among the largest institutional investors in Canada with C$211.1 billion under management, as of March 31, 2022. Based in Victoria, British Columbia, BCI is invested in fixed income and private debt; public and private equity; infrastructure and renewable resources; as well as real estate equity and real estate debt.