Crown Capital Partners Inc. announced last week it has entered into a share purchase agreement to sell its Mississauga, Ont.-based subsidiary Galaxy Broadband Communications Inc. to Ottawa-based Calian Group Ltd.
Under the terms of the agreement, Calian will acquire Galaxy for $24 million in upfront consideration payable in cash at closing and up to an additional $27.5 million in consideration payable over the three years following closing conditional on the financial performance of Galaxy.
The transaction is expected to close in August 2026, subject to customary closing conditions, applicable regulatory approvals and the approval of Crown’s debenture holders.
“The sale of Galaxy Broadband to Calian represents an important step in our previously announced strategy to realize value from Crown’s assets and strengthen the Corporation’s financial position,” Chris Johnson, president and CEO of Crown Capital Partners, said in a Crown press release last Thursday.
“Calian is a strong, well-capitalized acquirer whose space and defence focus is an excellent fit for Galaxy’s team, customers and capabilities,” Johnson added. “We believe this transaction delivers a compelling outcome for our stakeholders, and we look forward to seeking the support of our Debentureholders as we move toward completion.”
Founded by Rick Hodgkinson, Galaxy Broadband is known for providing low Earth orbit (LEO) satellite communications, private wireless and multi-orbit connectivity solutions, supporting organizations operating in some of Canada’s most remote and challenging environments, including northern Canada.
“Galaxy Broadband is a highly strategic addition to Calian’s communications and connectivity portfolio,” Calian CEO Patrick Houston said in a Calian press release announcing the acquisition agreement last week. “Galaxy has built a strong reputation delivering reliable connectivity solutions to government, defence, critical infrastructure and remote community customers across Canada. Its satellite communications and multi-orbit expertise complement Calian’s existing capabilities and expand our ability to support customers operating in complex and remote environments. Upon closing, we look forward to welcoming the Galaxy team to Calian and building on their strong customer relationships.”
Calian said the Galaxy acquisition is expected to enhance its ability to deliver integrated communications and connectivity solutions by combining Galaxy’s connectivity expertise with Calian’s capabilities across communications infrastructure, cybersecurity, defence technologies and remote service delivery.
“From our first day in business, Galaxy has been committed to serving customers in some of Canada’s most remote regions with reliable, resilient communications,” Hodgkinson, founder and CEO of Galaxy Broadband, said in Calian’s press release. “In Calian, we have found a partner that shares our values, our commitment to people and our dedication to customer success. The alignment between our teams, our culture and our mission-critical focus is strong. Together, we will be well positioned to continue supporting customers and communities that depend on secure and reliable communications every day.”
