Crux CFO Advisors (“Crux”) served as the exclusive financial advisor to Planetary Systems Corporation (“PSC”) in its recently completed sale to Rocket Lab.
PSC was founded in 1998 to provide high-quality, affordable mechanical systems to the aerospace industry and brings to Rocket Lab unparalleled leadership in separation systems and satellite dispensers. This, combined with their flight-proven, cost-effective, and lightweight hardware, has streamlined the process of attaching satellites to rockets and releasing them in space while ensuring they’re protected during the journey to orbit.
PSC’s expertise is complementary to Rocket Lab’s vertically-integrated Space Systems division and its own in-house manufactured and operated Photon spacecraft line, Maxwell satellite dispensers, satellite components, and mission flight software by Advanced Solutions, Inc.
Both organizations have combined for more than 200 missions. Rocket Lab’s acquisition of PSC brings together two experienced space organizations that further strengthens Rocket Lab’s end-to-end space offering across the full launch and satellite spectrum.
As reported at the time of acquisition, the deal enables PSC to make use of Rocket Lab’s resources and manufacturing capability to grow their already-strong commercial hardware trade and continue serving their existing satellite customers launching spacecraft on other launch vehicles. PSC’s team of 25 people will continue to be led by the company’s President and CEO Mike Whalen in Maryland, with founder Walter Holemans also remaining in his role of Chief Engineer.
This is Crux’s second space industry sell-side M&A deal in less than a year. Crux was previously the CFO advisor to Blue Canyon Technologies, which was sold to Raytheon in December 2020 for $432 million.
“We’re thrilled to be bringing our complementary strengths together to move the industry forward,” said Whalen. “Crux was instrumental in helping us find the right partner to ensure strategic and technological growth during a time of increased industry competition. Crux’s CFO leadership and insights were invaluable in preparing our company for this transaction and leading the transaction process to a successful outcome for our shareholders.”
Sam Francis, CEO and founder of Crux CFO Advisors, said, “The Planetary Systems team has spent over 20 years building the leading separation systems technology to capitalize on the rapid growth in the space industry. It has been an incredible opportunity to partner with the team to facilitate the merger process with Rocket Lab.”
Crux CFO Advisors are space industry transaction experts. Headquartered in Denver, Colorado, the Crux team has deep expertise in preparing companies for sale and facilitating the sale process. For more information, visit cruxcfo.com.