Status: Clearance
Acquirer: Advent International Corporation (U.S.); British Columbia Investment Management Corporation (British Columbia)
Acquired: Maxar Technologies Inc. (U.S.)
Value: approximately $6.4 billion
Industry Tags: Space; Satellites
UPDATE: On February 14, 2023, Maxar Technologies, Advent International, and British Columbia Investment Management Corporation “submitted a joint voluntary notice to CFIUS . . . and CFIUS commenced its review of the joint voluntary notice on February 22, 2023.” (Maxar Technologies, Form DEFM 14a, Mar. 16, 2023, SEC Filing.)
On May 3, 2023, Maxar Technologies announced that “U.S. private equity firm Advent International (“Advent”), alongside minority investor British Columbia Investment Management Corporation (“BCI”), completed their acquisition of Maxar. With the closing of the transaction, Maxar will remain a U.S.-controlled, owned and operated company.” (Press Release, Maxar Technologies, Form 8-K, Ex-99.1, May 3, 2023, SEC Filing.)
Posted on December 23, 2022
Status: Upcoming/New CFIUS Filing
On December 16, 2022, Maxar Technologies (NYSE:MAXR) (TSX:MAXR), “provider of comprehensive space solutions and secure, precise, geospatial intelligence,” announced that it had entered into a definitive merger agreement to be acquired by Advent International, “one of the largest and most experienced global private equity investors, in an all-cash transaction that values Maxar at an enterprise value of approximately $6.4 billion.” (Press Release, Maxar Technologies, Form 8K, Ex. 99.1, Dec. 16, 2022, SEC Filing). The “British Columbia Investment Management Corporation (“BCI”) is providing a minority equity investment.” Id. Pursuant to the merger agreement, “CFIUS Approval” is a condition of closing. (Maxar Technologies, Form 8K, Ex. 2.1, Sec 5.1., Dec. 16, 2022, SEC Filing). The transaction is expected to close mid-2023. (Press Release, Maxar Technologies, Form 8K, Ex. 99.1, Dec. 16, 2022, SEC Filing)
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