TGS Baltic advised founders of the space company NanoAvionics in the sale of a controlling  stake to Norwegian company Kongsberg Defense & Aerospace

05.07.2022 TGS Baltic advised founders of the space company NanoAvionics in the sale of a controlling stake to Norwegian company Kongsberg Defense & Aerospace

Advised the founders of a space technology start-up NanoAvionics, together with AST & Science, on signing transaction documents regarding the sale of a controlling stake of NanoAvionics to Kongsberg Defense & Aerospace AS, a company controlled by the Kingdom of Norway, operating in the field of defense and space.

The Parties have agreed upon an enterprise value of the company amounting to EUR 65 million.

NanoAvionics is a leading smallsat mission integrator and bus manufacturer with significant global growth in recent years, including expansions into the United Kingdom and the United States. The planned acquisition expands KONGSBERG’s space offering to also have products and technology for manufacturing small satellites.

TGS Baltic advised its clients on all stages of the transaction, ranging from the engagement of the investment bankers, due diligence advise, negotiations, transaction structuring, dealing with option holders as well as works relating to closing preparation. Given the geopolitical environment and the specific industry of the target company, the transaction structure was complex and a significant amount of alignment, including with the respective security/FDI authorities in several jurisdictions, was required.

The experts working on the deal included Partner Marius Matonis, Associates Paulius Dabulskis, and Kotryna Visockytė.

Read more: KONGSBERG enters into an agreement to acquire smallsat manufacturer NanoAvionics