Cerberus Acquires TE SubCom

Photo: pixabay

Cerberus Capital Management has entered into an agreement with TE Connectivity to acquire TE’s Subsea Communications business (SubCom).

Headquartered in Eatontown, New Jersey, SubCom designs, manufactures, deploys, and maintains the subsea fiber optic cable systems that are vital for global communications.

To date, SubCom has completed more than 100 cable systems and deployed over 610,000 kilometers of cable through its eight cable ships.

SubCom is a recognized pioneer in the subsea fiber optic cable industry with a long track record of technology innovation and excellent project management and customer service,” said Michael Sanford, co-head of North American Private Equity and senior managing director of Cerberus. “The industry-leading solutions and services that SubCom delivers will become even more critical for global companies as demand for data and connectivity continues to grow rapidly. Through this investment, SubCom will become an independent, standalone business that is well-positioned to capitalize on the significant growth opportunities ahead.”

Sanford added, “We look forward to partnering with the talented SubCom employees and leveraging our operational expertise and resources to deliver innovative, integrated, and reliable solutions to meet the needs of SubCom’s global customers.”

The transaction is subject to customary closing conditions and is expected to close in the fourth quarter of 2018.

Kirkland & Ellis LLP is acting as legal advisor to Cerberus. Goldman Sachs, Barclays, Credit Suisse, and Jefferies are acting as financial advisors to Cerberus and providing committed financing for the transaction.

Share this article

Follow Subsea World News

Events>

<< Jun 2019 >>
MTWTFSS
27 28 29 30 31 1 2
3 4 5 6 7 8 9
10 11 12 13 14 15 16
17 18 19 20 21 22 23
24 25 26 27 28 29 30

9th International Conference Offshore Foundations

Offshore Foundations is a technical event for experts in the wind industry. The goal is to push forward technical development for future foundation concepts.

read more >

OCEANS 2019

OCEANS is the bi-annual event for global marine technologists, engineers, students…

read more >

OGA 2019

Malaysia’s Oil, Gas and Energy (OGE) industry has been contributing about one-fifth to the national GDP…

read more >

Brasil Offshore 2019

The commemorative 20th anniversary edition of Brasil Offshore will be held under the auspices…

read more >