OceanSound Partners and Apollo S3 Close $1.15B Continuation Fund to Recapitalize SMX
April 4, 2024
OceanSound Partners closed a $1.15 billion single-asset continuation fund transaction to extend its ownership and recapitalize SMX, with Apollo S3 as the lead investor in the new fund. OceanSound and SMX management rolled most of their equity and will remain significant investors; the continuation fund will provide incremental capital to support SMX's acquisition-driven growth and digital/military mission-support expansion.
- Buyers
- OceanSound Partners, Apollo S3
- Targets
- SMX
- Sellers
- OceanSound Partners Fund, LP
- Industry
- IT Services
- Location
- Maryland, United States
- Transaction Type
- Recapitalization
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