Maxar’s headquarters. Photo: Maxar Technologies

Private equity firm Advent International has closed its acquisition of Maxar, including a minority investment from British Columbia Investment Management Corporation. Maxar will no longer be a publicly traded company and its stock is no longer trading. 

The deal, announced in December, acquired Maxar for $53 per share, a premium over Maxar’s trading value. The enterprise value of the deal is $6.4 billion, and $2.4 billion in debt. Maxar’s shareholders recently approved the transaction. 

Advent International is headquartered in the U.S. and Maxar remains a U.S.-controlled, owned and operated company.

Maxar is gearing up for the launch of its long-delayed WorldView Legion satellites, its new Earth observation fleet. When the Advent deal was announced, Maxar CEO Dan Jablonsky said it would accelerate the launch of the Worldview Legion 7 and 8 satellites, which were planned for later this decade.

Maxar offers Earth observation capabilities and builds satellites. The company recently rebranded its spacecraft portfolio to commercialize two new spacecraft buses other than its classic 1300 GEO spacecraft. 

The rebrand includes the Maxar 300 series — its smallest and most modular bus, optimized for high rate and rapid production. It is the same bus that Maxar is building for L3Harris to support its Space Development Agency (SDA) contract. It also includes the Maxar 500 series, the mid-size platform used for the WorldView Legion satellites.