Veritas Capital has entered into a definitive agreement to acquire CAES Space Systems — Mike Elias, Senior Vice President & Division General Manager, will continue to lead CAES Space Systems, alongside the rest of the leadership team — financial terms of the transaction were not disclosed.
CAES Space Systems provides radiation hardened components, mission processing, cabling, wave guides, antennas and power management solutions. With more than 60 years of space flight heritage, CAES Space Systems and the company’s products have had a presence on all historical major U.S. space platforms, with a 100% mission success rate.
The transaction is expected to close in Q1 2023, subject to customary closing conditions and regulatory approvals.
“CAES Space Systems is uniquely differentiated by the breadth of its technical capabilities and segment expertise, as well as its long history of delivering critical solutions to customers,” said Ramzi Musallam, Chief Executive Officer and Managing Partner of Veritas. “Operating in space and defense markets supporting national security, CAES Space Systems is well-positioned to thrive as a standalone business under Veritas ownership. We will deploy our significant government technology experience working with Mike Elias and rest of the CAES Space Systems team to accelerate growth and value proposition to customers. Through our focus on innovation and differentiated technology, CAES Space Systems has become the preeminent provider of space-qualified, mission-critical components and solutions. We are excited to partner with Veritas, a premier government technology investor that brings deep domain expertise and knowledge of our end markets. I am confident that Veritas is the perfect partner for CAES Space Systems as we enter our next stage of growth.”
CAES Space Systems is a provider of high-reliability (hi-rel), radiation-hardened (rad-hard) solutions for space applications. The Company has a complementary and integrated suite of mission-critical space electronics. Key products include rad-hard components, mission processing solutions, custom ASICs, motion control systems, waveguides, antennas, power management solutions, as well as cabling.
Veritas is a longstanding technology investor with over $45 billion of assets under management and a focus on companies operating at the intersection of technology and government. The firm invests in companies that provide critical products, software, and services, primarily technology and technology-enabled solutions, to government and commercial customers worldwide. Veritas seeks to create value by strategically transforming the companies in which it invests through organic and inorganic means.
