Veritas Capital to acquire CAES Space Systems
Technology and government investment firm, Veritas Capital, has entered into a definitive agreement to acquire CAES Space Systems from CAES.
Headquartered in Colorado Springs, CAES Space Systems provides radiation-hardened components, mission processing, cabling, waveguides, antennas and power management solutions. Mike Elias, Senior Vice President & Division General Manager, will continue to lead CAES Space Systems, alongside the rest of the leadership team.
“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,” says Ramzi Musallam, Chief Executive Officer and Managing Partner of Veritas, in a press release. “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.”
The transaction is expected to close in Q1 2023, subject to customary closing conditions and regulatory approvals. The financial terms of the transaction were not disclosed.
“Through our focus on innovation and differentiated technology, CAES Space Systems has become the preeminent provider of space-qualified, mission-critical components and solutions,” says Mike Elias. “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.”