NewSpace, take note of a successful equity exit: Ardian gets a 4X return on CLS after 6 years

PARIS — While the NewSpace sector anxiously waits for successful investor exits, private-equity investor Ardian’s sale of its 30% share of not-NewSpace satellite tracking hardware and service provider CLS after six years has to be considered a success.

Ardian did not earn the returns it expected when invested 30 million euros ($33.15 million at current exchange rates) in satellite tracking company CLS in November 2013.

At the time, Toulouse, France-based CLS had 90 million euros in annual revenue and 500 employees . . .

To view the entire article, become a subscriber!