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>

<< Mar 2019 >>
MTWTFSS
25 26 27 28 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 31

Subsea Valley

This yearly gathering has grown from 200 to 2000 delegates in only 5 years and is now one of the leading energy conferences in Europe…

read more >

Shallow and Deepwater Mexico Oil and Gas Conference

Shallow and Deepwater Mexico is a community gathering for the offshore sector focusing on the future of offshore in Mexico…

read more >

OMC 2019

OMC is the largest exhibition and conference dedicated to the Offshore, and Oil & Gas Industry…

read more >

SubOptic 2019

SubOptic is the longest running and most comprehensive conference series in the world for the submarine fiber industry…

read more >