MDA Space receives investment from CSG to develop space capabilities

CSG has invested in a 9.5% stake in MDA Space Ltd (MDA Space), as part of its long-term strategy to develop space capabilities, whilst also creating a core team of senior space and defence professionals to lay the foundations for a broader team and the expansion of its activities in the sector.

MDA Space is one of the largest space companies and a leading global provider of advanced space technologies and services listed on the Toronto Stock Exchange and New York Stock Exchange. MDA Space locations in the UK include Didcot, Manchester, Stevenage and Farnborough, focusing on advanced space exploration and satellite communications technologies.

Mike Greenley, Chief Executive Officer of MDA Space, said: “We welcome CSG’s investment in MDA Space and its position as a strategic investor. CSG is a European industrial group with a proven track record in building high-quality defence businesses. As countries around the world look to increase their sovereign defence and space investments, the expansion of MDA Space’s global investor network is a strategic tool for continued expansion of our business. With this addition of CSG to our group of shareholders, MDA Space continues to strengthen its investor and business partner base in Europe. We are looking forward to a long-term strategic partnership with CSG and to continuing to create value for all our shareholders.”

Defence and space are tightly interconnected. Developing capabilities in space is a natural extension of the CSG’s existing activities in defence and aerospace. The global space economy is projected to triple and reach $1.8 trillion by 2035, with commitments signalling a clear, multi-year acceleration in in-space investment, including approximately $74 billion in global government space-defence spending in 2025. Against this backdrop, CSG intends to develop its presence progressively through careful capital allocation, leveraging internal expertise alongside partnerships and selective strategic investments.

How the investment will expand cooperation in manufacturing and business development

CSG views this strategic investment in MDA Space as an opportunity to explore potential cooperation between the two groups over time. Such cooperation could include co-investing in manufacturing or assembly facilities in Europe, partnering on strategic acquisitions and otherwise seeking to introduce CSG’s customer relationships to MDA Space to support MDA Space’s international growth.

This investment follows previously announced smaller-scale venture capital investments, made through Tech Horizons VC fund, in SatVu in the UK and Atmos Space Cargo in Germany. The stake in MDA Space is held by a dedicated subsidiary. CSG believes that MDA Space offers a compelling combination of technological depth, diversified activities, established industrial scale and exposure to both commercial and government markets.

CSG is also creating a dedicated space team to develop its long-term activities in the sector. It brings together senior expertise from space and technology, defence and national security, as well as from the Canadian aerospace and defence market. The team will initially comprise the newly created roles of Head of Space Strategy and Technology (which will be held by Ladislav Stahl, a former NATO space advisor) and Space Director for Corporate Development (which will be held by Filip Kocián, an expert investment and corporate development professional specialising in the global space industry). They will be joined by Cameron McKenzie, a senior Canadian aerospace and defence executive, who will take responsibility for CSG’s activities and expansion in Canada in his role as Senior Adviser.

Michal Strnad, Chairman of the Board of CSG, said: “MDA Space is a highly respected, well led, profitable and growing space company with exceptional technological capabilities and a diversified position across satellite systems, robotics and space operations, geointelligence and defence-related applications.

“MDA Space’s capabilities and experience will be highly relevant as CSG develops its own position in the space sector in cooperation with MDA Space. This is a strategic investment that reflects CSG’s conviction in the growing importance of space and in MDA Space as a key player in the sector. We want to be a long-term strategic shareholder and see significant potential for MDA Space and CSG to grow alongside each other. We expect that CSG’s customers will be able to benefit from a much wider and more complex product offering in an era of rapidly increasing dependency of our security on space applications.”