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Direct Investment  + M&As  |  May 5, 2023
Advent, BCI Close $6.4B Take-Private Deal for Space Company Maxar Technologies
Joe Palmisano
By: Joe Palmisano

Advent, BCI Close $6.4B Take-Private Deal for Space Company Maxar Technologies

Boston-based private equity firm Advent International and Canada-based British Columbia Investment Management Corp. (BCI) have finalized their take-private buyout of Maxar Technologies in an all-cash transaction valued at approximately $6.4 billion, or $53 per share.

With the transaction’s completion, Maxar will continue to operate as a US-controlled and owned company and will stop trading on both the New York and Toronto stock exchanges.

In December, Advent, along with minority investor BCI, agreed to buy the Westminster, CO-based space imagery and infrastructure company.

Advent took a $3.1 billion stake in Maxar, while BCI made a $1 billion equity contribution.

Maxar CEO Dan Jablonsky has led a multi-year turnaround effort at Maxar since he was appointed the top spot in January 2019, with the stock trading near $5 a share. The deal price with Advent is near the highs Maxar shares hit in early 2021, before dropping alongside other space stocks in recent months.

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About Joe Palmisano

Joe Palmisano is editorial director of Connect Money, where he oversees daily coverage of alternative assets, direct investments, financial advisory and the economy. He brings three decades of experience as a financial journalist, analyst and portfolio manager. Before joining Connect Money, Palmisano wrote for The Wall Street Journal, covering foreign exchange, global fixed-income and equity markets. He later served as a senior research analyst and portfolio manager, producing market analysis and managing foreign exchange and U.S. equity portfolios for FX Concepts. His work has also appeared in SFO Magazine and CMT Association publications. Palmisano earned a bachelor’s degree in finance from The American University and holds the Chartered Market Technician (CMT) designation and is a member of the CFA Institute.
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