OpenGate Capital Sells Global Star Solutions

OpenGate Capital has sold Global Star Solutions to company management, for an undisclosed amount. Global Star Solutions is a Canadian provider of supplier of network infrastructure products, which OpenGate originally bought from UTStarcom.

PRESS RELEASE
OpenGate Capital, a global private equity firm, today announced that is has sold its portfolio company, Global Star Solutions, to a management-led buyout team. OpenGate acquired the Richmond, British Columbia based supplier of network infrastructure products from UTStarcom.

OpenGate’s Founder and Managing Partner Andrew Nikou commented, “We are very proud of what we have accomplished with Star Solutions to date. This transaction marks yet another successful exit for OpenGate, as well as a bright new chapter in the future of Star Solutions.”

Terms of the transaction were not disclosed.

About Global Star Solutions

Global Star Solutions (“Star Solutions”) is a leading supplier of network infrastructure products that enable CDMA/GSM wireless operators to reach their customers using Internet Protocol technology. These products deliver voice and broadband data services to CDMA2000 and GSM/GPRS mobile users including solutions that address rural mobile, enterprise, in-building, cruise ship, portable and military applications. Based on distributed network architecture, Star Solutions technology allows operators to deploy an end-to-end solution with scalable and modular platforms and lowers the total cost of ownership.

For more information on Star Solutions, please visit our website at www.starsolutions.com.

About OpenGate Capital

OpenGate Capital is an opportunistic private equity firm that acquires controlling interests in businesses with solid fundamentals which exhibit opportunities for operational improvements and growth. Established in 2005, OpenGate Capital has a global footprint with headquarters in Los Angeles, California and a principal office in Paris, France. OpenGate is served by a seasoned team of M&A and operating professionals that bring the skills needed to acquire, operate and build successful companies. The partners of OpenGate have executed over 50 transactions worldwide ranging from corporate divestitures, turnaround acquisitions, industry consolidations and other special situations investments across a wide array of industries and geographical markets.

For more information on OpenGate Capital, please visit our website at www.opengatecapital.com.