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Tuesday, Feb 20, 2024

LinQuest Acquired by Madison Dearborn, CoVant Management

LinQuest Corp., a Ladera Heights-based space technology solutions provider, has been purchased for an undisclosed amount by private equity firms Madison Dearborn Partners of Chicago and CoVant Management of McLean, Va.

Leon Biederman, LinQuest’s chief executive officer, and other LinQuest management will retain a significant minority ownership position in the company, which they will continue to lead, according to a Madison Dearborn Partners statement.

LinQuest is a space technology provider to the federal government. Its core competencies include military satellite communications engineering and development, battlespace awareness, cyber operations and space flight and ground software.

“We believe LinQuest’s differentiated technology capabilities in desirable space end-markets will benefit from our focus on growing businesses through both organic and strategic acquisition initiatives,” said Joseph Kampf, CoVant chairman and CEO, in a statement.

Baird served as LinQuest’s financial advisor in the deal while Alston & Bird, Squire Patton Boggs, and Drinker Biddle & Reath provided the company legal advice. Kirkland & Ellis and Crowell & Moring provided legal counsel to MDP and CoVant. Bank of America Merrill Lynch is providing a credit facility to support the company.

Real estate reporter Ciaran McEvoy can be reached at cmcevoy@labusinessjournal.com or (323) 556-8337.

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