SpeedCast Ltd, a Hong Kong-based network and satellite communications service provider, has completed its acquisition of of Australian Satellite Communications Pty Ltd. SpeedCast is backed by private equity money, having been acquired by TA Associates in September 2012. Terms of the SpeedCast acquisition were not released.
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.
About TA Associates
Founded in 1968, TA Associates is one of the largest and most experienced middle-market growth private equity firms. The firm has invested in over 400 companies globally and has raised $18 billion in capital. With offices in Boston, Menlo Park, London, Mumbai and Hong Kong, TA Associates leads buyouts and minority recapitalizations of profitable growth companies in the healthcare, technology, financial services, business services and consumer industries. More information about TA Associates can be found at www.ta.com.
About SpeedCast Ltd
SpeedCast Ltd is a leading global network and satellite communications service provider offering high-quality managed networks services in over 30 countries throughout Asia, the Middle East and Africa. With 8 international sales & support offices and 16 teleport operations, SpeedCast boasts a unique infrastructure to serve corporate and carriers’ requirements globally. SpeedCast has distinguished itself with a strong operational expertise and a highly efficient support organization, which are the foundation of SpeedCast’s success. For more information, visit www.speedcast.com.
About Australian Satellite Communications Pty Ltd
Australian Satellite Communications (ASC) provides a wide range of satellite communications solutions throughout Australia and surrounding regions. Since its establishment in 1985, ASC has steadily grown to become recognized in the industry as a leading satellite communications service provider, system integrator and supplier of satellite communications equipment in Australia. ASC provides total satellite communications solutions, focusing on the mining and oil & gas industries, as well as markets such as construction, government, maritime, education, emergency services, agriculture and entertainment.