(Bloomberg) — Closely held satellite developer York Space Systems is considering options including a sale, according to people with knowledge of the matter.
The company is working with an adviser to examine strategic options, with a sale expected to value York at about $1.5 billion, said the people, who asked not to be identified because they weren’t authorized to speak publicly. The Denver-based company is expected to attract interest from other aerospace and defense groups, the people said.
A representative for York didn’t immediately respond to requests for comment.
A sale would continue a string of aerospace and defense deals in the past year, including Viasat Inc. agreeing to buy Inmarsat Group Holdings for $4 billion and Carlyle Group Inc.’s agreement to take ManTech International Corp. private in a deal valued at $3.9 billion, according to data compiled by Bloomberg. Most recently, Eutelsat Communications SA on Monday confirmed an earlier Bloomberg News report that it’s in talks to combine with UK satellite rival OneWeb Ltd.
York, founded in 2015, makes satellites for a range of uses, including communications and weather monitoring, for civilian and government agencies, including the US Defense Department, according to its website.
The company said in a statement in April that it anticipates hiring as many as 450 employees in the Denver area over the next two years to meet increasing demand. York projects revenue growth of 250% revenue in 2022, the third consecutive year-over-year gain of more than 230%.
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