Seaport Closes Sale of MCB Broadband

Seaport Capital said Wednesday it completed the sale of MCV Broadband to NTT DOCOMO for an enterprise value of about $130 million. MCV is a cable and internet provider on Guam.

PRESS RELEASE

NEW YORK, NY–(Marketwired – May 22, 2013) – Seaport Capital, a private equity firm focused on investments in the communications, information technology, and business services sectors, announced today that it has completed the sale of MCV Broadband, the leading triple-play cable television, internet, and telephone provider on Guam, to NTT DOCOMO, INC., a Japan-based global operator of wireless communications networks, for an enterprise value of approximately $130 million USD.
Since the company’s acquisition by Seaport Capital in 2005, MCV has upgraded its network and programming distribution capabilities, and expanded its product offering from analog video to a fully-digitized triple-play solution. Over the last two years, MCV has further expanded its telephone, Internet, and video services to the commercial market on Guam.
The combined company will have the capability to offer a fully-integrated quadruple-play video, internet, home telephone, and mobile telephone solution leveraging the combined network infrastructure of MCV and NTT DOCOMO’s wholly-owned Guam subsidiary, DOCOMO Pacific.
“We are very excited about the combination of MCV with DOCOMO,” said MCV’s Craig Thompson. “We are proud of all that we’ve accomplished over the last 8 years with Seaport Capital, and very much appreciate their support and investment.”
“We appreciate the efforts of Craig Thompson and his team at MCV over the past 8 years,” said Bill Luby, partner at Seaport Capital. “We are proud of MCV’s reputation as the premier communications provider on Guam and consider it a testament to the team’s commitment to customer service. The DOCOMO-MCV combination will create a dynamic company that will deliver even greater customer satisfaction in the years ahead, and we wish the company continued success.”
Waller Capital Partners served as exclusive advisor to Seaport Capital and MCV on the transaction. Kramer Levin Naftalis & Frankel LLP served as legal counsel to Seaport Capital and MCV.
About Seaport Capital
Founded in 1997, Seaport Capital provides capital to middle market companies in the communications, information and business services sectors. Seaport works with talented management teams to create valuable companies that are leaders in their market segments. Seaport’s extensive investing experience enables it to develop winning strategies; its relationship and resources help achieve them. The firm seeks to invest $5 to $25 million of equity capital in each portfolio company. For additional information, visit www.seaportcapital.com.
About MCV Broadband
MCV Broadband is the leading cable and internet provider on Guam, offering cable television, internet and home telephone to residential and commercial customers. MCV was the first to bring “real-time” digital cable to Guam along with being the first ISP registered in the Marianas. The company provides service to over 30,000 subscribers and employs over 200 island residents. For additional information, visit http://www.mcvguam.com/.

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