Astrion, a leading provider of mission support and advanced engineering services, announced today that it has signed a definitive agreement to acquire Axient, a highly regarded provider of specialized engineering solutions. Astrion is a portfolio company of Brightstar Capital Partners (Brightstar), a middle market private equity firm.<\/p>\n
Astrion is a partner for progress, providing cutting-edge services that boost preparedness, optimize performance, and ensure mission success for defense and federal agencies, including the Army, Air Force, Civilian Agencies, Navy and Space. Axient is a systems integrator advancing defense and civil missions from aerospace to cyberspace with multi-domain test and analysis, mission engineering and operations, and advanced technologies.<\/p>\n
This strategic acquisition positions Astrion to significantly enhance its capabilities, increase opportunities for the combined employee base, expand its market presence, and deliver greater value to its customers.<\/p>\n
\u201cAt Astrion, our mission extends beyond today. We are committed to the extraordinary and making our nation more resilient for future generations. Axient\u2019s specialized capabilities, talented employees and robust customer base make it a highly complementary fit with Astrion,\u201d said Dave Zolet, CEO of Astrion. \u201cTogether, we will deliver elevated solutions for military and civilian agencies, delivering Results with Impact to critical global challenges.\u201d<\/p>\n
\u201cWe believe this combination strengthens and expands the collective capabilities and services portfolio, and at a scale that creates advantages for our customers and stakeholders,\u201d commented Michael Singer, Partner at Brightstar.\u00a0 \u201cWe look forward to welcoming the expert Axient team and supporting Astrion\u2019s continued investment in customer innovation and mission delivery.\u201d<\/p>\n
\u201cWe are excited to join the Astrion team. Our shared commitment to customer success and innovation will allow us to deliver more comprehensive, innovative solutions for our customers\u2019 mission-critical challenges,\u201d said Randy Cash, President & CEO of Axient.<\/p>\n
The transaction is expected to close in the third quarter of 2024, subject to customary closing conditions, regulatory and government approvals.<\/p>\n
JPMorgan Securities LLC and Jefferies LLC are serving as financial advisors, and Kirkland & Ellis LLP is serving as legal counsel to Astrion. KippsDeSanto & Co. and Stone Key Partners LLC are serving as financial advisors and Paul, Weiss, Rifkind, Wharton & Garrison LLP and Morrison & Foerster LLP are serving as legal counsel to Axient.<\/p>\n