CSG enters the space sector through investment in MDA Space
CSG (‘the Group’), a global industrial and defence group, today announces its entry into the space sector through the acquisition of shares resulting in a 9.5% equity position in MDA Space Ltd. (‘MDA Space’), making CSG MDA Space’s largest shareholder at this time. 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.
Defence and space are tightly interconnected. Developing capabilities in space is a natural extension of the Group’s existing activities in defence and aerospace. The global space economy is projected to triple and reach $1.8 trillion[1] by 2035, with commitments signalling a clear, multi-year acceleration in in-space investment, including approximately $74 billion[2] in global government space-defence spending in 2025. Against this backdrop, the Group intends to develop its presence progressively through careful capital allocation, leveraging internal expertise alongside partnerships and selective strategic investments.
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.
This investment forms part of Group’s broader long-term strategy in the space sector. Group 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 also announces the creation of a dedicated space team to develop its long-term activities in the sector. The team 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.”
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 leading 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’’
Stanislav Kuba, Investment Director of CSG, said:
“We are approaching space in the same way we approach all our expansion and investment decisions: with a long-term industrial perspective and strict financial discipline. Building the team and taking a strategic investment in an established space company gives us two complementary foundations – expertise within CSG and direct exposure to one of the world’s most sophisticated space ecosystems.”
CSG creates dedicated space team
Alongside its investment in MDA Space, CSG has assembled a dedicated team to develop its activities and expertise in the space sector.
Ladislav Stahl – Head of Space Strategy and Technology
Ladislav Stahl is a defence and space-security specialist with extensive experience in space intelligence, space operations and the development of national space capabilities. He has served as Space Intelligence and Space Security Advisor within NATO Headquarters’ Intelligence Division and previously led the Czech Republic’s Satellite Centre. His expertise includes Earth observation, space-domain awareness, space security and threats, orbital operations and the development of emerging space technologies.
Filip Kocián – Space Director, Corporate Development
Filip Kocián is an investment and corporate development professional specialising in the global space industry. He has advised on M&A, financing, markets and strategy across the space value chain and previously held an investment role at Expansion Ventures, a European early-stage space, aerospace and defence investment fund. He also co-founded Golem Ventures Space.
Cameron McKenzie – Senior Advisor, Canada
Cameron McKenzie is a senior Canadian aerospace and defence executive with more than three decades of international industry experience. He previously served as Vice President of Global Sales, Business Development and Customer Support at L3Harris Technologies’ WESCAM business and held senior leadership positions at CAE and the Canadian Commercial Corporation. He will advise CSG on the Canadian market and the development of its relationships across the aerospace, defence and space ecosystem.
[1] World Economic Forum
[2] Government Space Programs
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