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[December 06, 2012]
Australia,Hong Kong,United States : TA Associates Partners With SpeedCast Ltd to Complete Buyout of Australian Satellite Communications [TendersInfo (India)]
(TendersInfo (India) Via Acquire Media NewsEdge) TA Associates, a leading global growth private equity firm, has partnered with SpeedCast Ltd, a Hong Kong-based global network and satellite communications service provider, to complete the acquisition of Australian Satellite Communications Pty Ltd (ASC), a leading satellite communications service provider in Australia. TA completed a buyout of SpeedCast in September 2012.
ASC provides satellite-based communications solutions throughout Australia and surrounding regions. The company focuses on customers in the mining and oil & gas industries, as well as the construction, government and maritime sectors. Founded in 1985, ASC is headquartered in Adelaide, Australia, where it owns and operates its primary teleport and runs sales and support centers.
ASC has established itself as the leading privately-owned satellite service provider in Australia, with a diverse group of customers ranging from oil & gas majors, to key federal and state government customers, to large multinational miners. ASC is renowned for its engineering expertise, quality of services and field engineering support.
ASC is an ideal, highly complementary partner for SpeedCast, said Edward F. Sippel, Managing Principal Asia Pacific, TA Associates Asia Pacific Ltd. ASC s founders, Chris and Kathy Joseland, have done a superb job growing the company by providing customers with high quality, mission-critical services, often in very remote and challenging locations. We are thrilled to join with ASC and its outstanding management team in this transaction. Ed Sippel and Michael S. Berk, a Managing Director at TA Associates, represent TA Associates on the Board of Directors of SpeedCast.
As a profitable and rapidly growing company, ASC is an ideal fit with SpeedCast s global growth strategy, said Pierre-Jean Beylier, CEO, SpeedCast Ltd. SpeedCast is executing on its strategy of organic and acquisitive growth. With the acquisition of ASC, SpeedCast consolidates its leadership position in Asia and extends its penetration into the important Australian market, particularly for the oil & gas and mining verticals.
TA s buyout of SpeedCast was the firm s eighth investment in Asia. It followed five investments in India and two recent investments in companies operating in China Forgame Tech Co., Ltd and Aicent, Inc. These investments have spanned industries from telecommunications and technology to healthcare to mining services, and have been both minority investments and buyouts in growth companies.
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