Redwire Finalizes Hera Systems Acquisition; Peter Cannito Quoted

Redwire (NYSE: RDW) has closed its purchase of spacecraft developer Hera Systems in a transaction that expands its portfolio of spacecraft to support national security space missions in geostationary orbit.

In a statement published Tuesday, Redwire Chairman and CEO Peter Cannito said the acquisition marks a key milestone in the space infrastructure company’s growth strategy and enables it to provide customers with mission-critical capabilities in GEO.

“We look forward to bringing together our highly complementary solutions as we continue to deliver for our national security customers and advance our goal of becoming a leading provider for proliferated GEO constellations,” added Cannito.

In mid-August, Redwire agreed to buy Hera Systems for an undisclosed sum to broaden its national security mission capabilities.

With the latest transaction, Redwire increased its 2024 full-year guidance to $310 million in revenue, up from $300 million.

GH Partners and Hogan Lovells, respectively, acted as Redwire’s financial adviser and legal counsel in the acquisition.

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