MDA acquired by a Canadian-led consortium of equity investors for $1 billion

On Apr. 8, Maxar Technologies (NYSE:MAXR; TSX:MAXR) sold MDA, its Canadian space and defense unit and Canada’s largest space technology developer and manufacturer, to a consortium of financial sponsors led by Toronto-based investment firm Northern Private Capital (NPC), for $1 billion financed with a combination of equity and debt. The equity investors comprised NPC and certain of its limited partners, as well as several leading investors including Bulldog Capital Partners, among other firms.

Stikeman Elliott LLP (Toronto) acted as Canadian counsel for Maxar Technologies with a team led by
Mike Devereux
,
and which included
Daniel Borlack,
Meghan Jones,
Laura von Heynitz,
Rishi Dhir,
Robbie Wang (M&A),
Denise Duifhuis (corporate),
Lawson Hunter,
Mike Kilby,
David Elder,
Jean-Guillaume Shooner (regulatory),
Craig Mitchell,
Scott Perrin,
Bertrand P. Ménard (banking),
Nancy Ramalho (employment),
Natasha vandenHoven,
Alyson Frankie (pension and benefits),
Dean Kraus,
Lindsay Gwyer,
John O’Connor (tax);
Justine Whitehead (IP),
Sabina Delvecchio (securities clerk),
Courtney Cunningham,
Elizibeth Ashton,
and Carly Ferrier (corporate clerks).

Goodmans LLP acted as lead counsel to the purchasers with a team including
Neill May
(corporate/M&A),
Alan Bowman (tax),
Emily Ting (corporate),
Michael Koch (regulatory),
Andrew Schipper (corporate),
and Christina Liao.

Miller Thomson LLP advised Bulldog Capital Partners in the transaction with a team led by 
Ryan Done
(corporate/M&A).

Norton Rose Fulbright Canada LLP acted as regulatory counsel to Northern Private Capital with a team including
Stefan Reisinger (partner, Washington, DC),
Dan Wellington (partner, Washington, DC),
Alexander Blaney (senior associate, London),
Jamie Cooke (senior associate, London),
Charles Bremner (senior associate, London),
Ryan Waggoner (senior associate, New York),
Mark Angland (associate, Washington, DC),
Edward Malcolm (associate, London),
and Stephanie Notice (associate, London).

Other legal counsel involved included Covington & Burling LLP , which acted as regulatory counsel to Northern Private Capital, Wachtell, Lipton, Rosen & Katz LLP, which acted as vendor’s counsel to MDA, and Vinson & Elkins LLP, which acted as regulatory counsel to MDA.


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