This month’s top deals from around Southern California
Motorola Announces $5-Billion Acquisition of Los Angeles-Based Silvus Technologies
Los Angeles-based Silvus Technologies, a developer and manufacturer of mobile communications datalinks that facilitate data transmission without the need for fixed infrastructure, will be sold by investment firm TJC LP to Motorola Solutions Inc. for $5 billion. The purchase price is comprised of $4.4 billion in cash and up to $600 million in earnout payments. It is expected to close in the third quarter of 2025.
“Silvus’ commitment to mission-critical communication infrastructure is crucial in an increasingly complex global landscape,” said Erik Fagan, partner and head of industrial technology at TJC, in a statement. He noted that TJC acquired the company in 2019, and it grew from 70 employees to more than 350 employees since then.
Silvus was founded in 2004. Its technology is primarily used in government, unmanned systems (air, sea and ground), robotics, law enforcement, and other critical commercial and industrial applications.
Mayer Brown LLP served as legal counsel to TJC on the transaction, and Morgan Stanley & Co. LLC served as financial advisor.
Sourced from TJC LP.
Rocket Lab Acquired Optical Systems Firm Geost for $330 Million
Long Beach-based Rocket Lab Corp. agreed to acquire Geost LLC from LightRidge Solutions for $330 million. The deal includes a cash consideration of $125 million and common equity of Rocket Lab valued at $150 million along with an earnout payment of $50 million tied to revenue targets.
Geost is a Tucson, Arizona-based electro-optical and infrared payload development and manufacturing company that works with high-priority national security satellites. The acquisition adds optical systems as a new category within Rocket Lab’s portfolio of capabilities. Following the transaction, the addition of Geost’s 115 professionals will bring Rocket Lab’s total headcount to more than 2,600 employees.
“With the acquisition of Geost, we’re bringing advanced electro-optical and infrared payloads in-house to support secure, responsive and cost-effective systems at scale. These technologies enable spacecraft that can detect, interpret and respond to threats in real-time, enhancing our role as a trusted provider of end-to-end space capabilities for the United States and its allies – with greater speed, intelligence and operational control,” said Sir Peter Beck, chief executive of Rocket Lab, in a statement.
The transaction is subject to regulatory approval and is expected to close in the second half of 2025. Baird acted as financial advisor for LightRidge Solutions. Gibson, Dunn & Crutcher LLP acted as legal advisor for LightRidge Solutions.
Sourced from Rocket Lab Corp.
Irvine Homebuilder New Home Company Acquires Texas Firm
The New Home Company Inc., an Irvine-based home developer, agreed to acquire Dallas-based Landsea Homes Corp. for approximately $430 million. The agreement calls for New Home to acquire all outstanding shares of Landsea Homes for $11.30 per share in cash, which represented a 61% premium to the share price prior to the announcement on May 12.
“Our acquisition of Landsea Homes is an important next step in New Home’s long-term growth strategy,” said Matthew Zaist, president and chief executive of New Home, in a statement.
The transaction was supported by Apollo Funds, the majority shareholder of New Home, which committed $650 million of new cash equity to facilitate the transaction.
The merger is expected to close in the third quarter of 2025. Upon completion, Landsea Homes will become a privately held company, and its common stock will no longer be listed on Nasdaq. The combined company will be led by Zaist.
“This transaction underscores our high conviction in the housing market opportunity and the teams at New Home and Landsea Homes,” said Peter Sinensky, partner at Apollo and a member of New Home’s board of directors, in a statement.
J.P. Morgan Securities LLC, RBC Capital Markets, Vestra Advisors, and Wells Fargo served as financial advisors to New Home. Paul, Weiss, Rifkind, Wharton & Garrison LLP acted as legal counsel to New Home. Moelis & Company LLC acted as exclusive financial advisor to Landsea Homes, while Latham & Watkins LLP acted as its legal counsel.
Sourced from Landsea Homes.
-David Nusbaum
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