Private Equity Giant EQT Acquires SpaceX Key Partner Exolaunch, Said to Buy Intertek for $14 Billion on Same Day

TradingKey - On June 18, Eastern Time, European private equity firm EQT announced the acquisition of Berlin-based satellite launch service provider Exolaunch, with the transaction value currently undisclosed. On the same day, according to the Financial Times, EQT reached an agreement to acquire British testing and certification company Intertek for approximately £10.6 billion.

Exolaunch: An Independent Service Provider in the Small Satellite Launch Sector

Exolaunch was founded by Dmitriy Sternharz, an associate professor in the Department of Space Technology at the Technical University of Berlin, and specializes in providing launch mission management, integration, and in-orbit deployment services for small satellites under 1,000 kg.

Since 2020, Exolaunch has been a rideshare launch partner for SpaceX's Falcon rocket family. The two parties have collaborated to deploy over 400 satellites across more than 20 Falcon 9 and Falcon Heavy missions, executing more than 160 contracts in total. To date, Exolaunch has participated in 47 launches, integrated with 7 types of launch vehicles, and delivered over 790 satellites into their designated orbits.

Since 2026, the company has over 20 launch contracts on hand and is expected to deploy more than 400 satellites throughout the year, with annual revenue growth projected to reach 250% year-over-year. The team plans to expand by 30% within the year, while simultaneously upgrading its design, testing, and manufacturing capabilities.

Following the completion of the EQT acquisition, the existing management team will remain unchanged, and the company will continue to operate independently with its headquarters in Berlin. Exolaunch has signed a long-term rideshare agreement with SpaceX covering 2028 and beyond, securing its launch capacity. The transaction is subject to regulatory approval and is expected to close within 2026.

On the same day, rumors of an acquisition of Intertek emerged.

According to the Financial Times, EQT has reached an agreement to acquire Intertek. Intertek is a 140-year-old testing, inspection, and certification company with more than 1,000 testing offices and laboratories globally and approximately 45,425 employees.

The buyout offer is £60 per share in cash, representing a total value of approximately £10.6 billion (including debt), or about $14.1 billion. Intertek's board of directors plans to recommend the offer. EQT had previously proposed offers of £51.5, £54, and £58 per share, all of which were rejected. In mid-May, Intertek indicated it was 'minded to recommend' the £60 offer, and the two parties formally reached an agreement ahead of the 5 p.m. deadline on June 18.

If the deal is completed, it will be one of the largest private equity buyouts in Europe in 2026.

About Private Equity Giant EQT

Founded in 1994 by Investor AB under Sweden's Wallenberg family, EQT is headquartered in Stockholm and listed on Nasdaq Stockholm. As of the end of 2025, EQT managed approximately EUR 270 billion in assets, with more than 50 active funds and over 300 portfolio companies globally, primarily focusing on the technology, healthcare, and industrial technology sectors.

In the Asian market, EQT invests through EQT Private Capital Asia, which completed a $15.6 billion fundraise in 2026, setting a record for the Asia-Pacific region.