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Covington Advises Advent International in $800M Sale of Lanteris to Intuitive Machines

Press Release November 5, 2025

WASHINGTON–Covington is advising global private equity investor Advent International and its portfolio company Lanteris Space Systems on government contracts, national security, and other regulatory matters in connection with Lanteris’s definitive agreement to be acquired by Intuitive Machines. The transaction is priced at $800 million.

Formerly Maxar Space Systems, Lanteris Space Systems is a satellite manufacturer and provider for space exploration.

Intuitive Machines is a space technology, infrastructure, and services company focused on fundamentally disrupting lunar access economics.

The Covington team advising Advent International and Lanteris is led by Scott Freling (government contracts), Heather Finstuen (national security), and David Fagan (national security). Other team members include: Darby Rourick and Victoria Skiera (government contracts); Madeline Sanderford (national security); Seth Atkisson (trade controls); and Yaron Dori and Jorge Ortiz (communications).

The transaction is expected to close in the first quarter of 2026, subject to customary regulatory approvals and closing conditions.

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