Astrion, a Brightstar Capital Partners portfolio company, has signed a definitive agreement to acquire Axient.
Astrion provides services to boost preparedness, optimize performance and ensure mission success for defense and federal agencies. Axient is a systems integrator advancing defense and civil missions from aerospace to cyberspace with multidomain test and analysis, mission engineering and operations, and advanced technologies.
“At Astrion, our mission extends beyond today,” said Dave Zolet, CEO of Astrion. “We are committed to the extraordinary and making our nation more resilient for future generations. Axient’s specialized capabilities, talented employees and robust customer base make it a highly complementary fit with Astrion. Together, we will deliver elevated solutions for military and civilian agencies, delivering Results with Impact to critical global challenges.”
The acquisition will enhance Astrion’s capabilities, increase opportunities for the combined employee base, expand its market presence and deliver greater value to its customers, the company said.
“We 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’ mission-critical challenges,” said Randy Cash, president and CEO of Axient.
The transaction is expected to close in the third quarter of 2024.
“We believe this combination strengthens and expands the collective capabilities and services portfolio, and at a scale that creates advantages for our customers and stakeholders,” said Michael Singer, partner at Brightstar. “We look forward to welcoming the expert Axient team and supporting Astrion’s continued investment in customer innovation and mission delivery.”
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.