Tech and government investment specialist Veritas Capital has followed its weighty $10.65bn Fund VIII close from earlier this week with the buyout of electronics maker CAES Space Systems.
The company provides radiation hardened components, mission processing, cabling, wave guides, antennas and power management solutions.
Over 60 years of space flight heritage, CAES’ products have had a presence on all historical major US space platforms, with a 100% mission success rate.
Veritas CEO Ramzi Musallam said, “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.
“Operating in space and defense markets supporting national security, CAES Space Systems is well-positioned to thrive as a standalone business under Veritas ownership.”
The deal is expected to close in Q1 2023.
Veritas stormed past its $8.5bn goal for Fund VIII for the $10.65bn final close earlier this week, and easily outdid the $6.5bn of commitments the firm collected for Fund VII in 2019.
Recent Veritas investments have included Houghton Mifflin Harcourt Company, Coronis Health, Grant Thornton Public Sector and Chromalloy.
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