Astrion takes step toward $1.5B revenue goal

Astrion is making good on its CEO’s promise to grow quickly and add capabilities that can put the company ahead of the tech curve.

Dave Zolet described his strategy and vision for Astrion in a May episode of the WT 360 podcast, where he said the company is pushing to double its annual revenue to $1.5 billion over the next three years.

Astrion has now taken an an important step in that direction with its plan to acquire Axient, a company with specialized engineering capabilities.

Axient brings to Astrion systems integration skills that support defense and civil missions that involve aerospace, cybersecurity, multi-domain test and analysis, mission engineering, and advanced technologies.

In its Wednesday announcement, Astrion said it is also looking to increase opportunities for the combined employee base and expand its market presence.

“Axient’s specialized capabilities, talented employees and robust customer base make it a highly complementary fit with Astrion,” Zolet said in the release. “Together, we will deliver elevated solutions for military and civilian agencies, delivering Results with Impact to critical global challenges.”

The acquisition is expected to close this quarter, pending regulatory approvals. Terms of the transaction were not disclosed.

Axient recorded $142.5 million in prime contract obligations over the last 12 months, according to USASpending.gov. Its major customers include the General Services Administration, NASA and the Air Force.

Private equity firm Brightstar Capital Partners formed Astrion in late 2023 through a combination of two other portfolio businesses.

JPMorgan Securities and Jefferies served as financial advisers to Astrion, whose legal counsel was Kirkland & Ellis LLP. KippsDeSanto & Co. and Stone Key Partners were the financial advisers to Axient. Paul, Weiss, Rifkind, Wharton & Garrison LLP and Morrison & Foerster LLP were the legal counsel for Axient.