M&A Deal Summary

Liberty Global Acquires Puerto Rico Cable

On June 3, 2015, Liberty Global acquired media company Puerto Rico Cable from HM Capital Partners and Patriot Media and Communications for 276M USD

Acquisition Highlights
  • This is Liberty Global’s 5th transaction in the Media sector.
  • This is Liberty Global’s 11th largest (disclosed) transaction.
  • This is Liberty Global’s 3rd transaction in Puerto Rico.

M&A Deal Summary

Date 2015-06-03
Target Puerto Rico Cable
Sector Media
Buyer(s) Liberty Global
Sellers(s) HM Capital Partners
Patriot Media and Communications
Deal Type Add-on Acquisition
Deal Value 276M USD

Target

Puerto Rico Cable

Mercedita, Puerto Rico
website
Choice Cable is the incumbent cable operator serving the northern and western coastal region of Puerto Rico. The companys service area encompasses approximately 330,000 homes and its product offerings include video and high speed data.

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Buyer(S) 1

Buyer

Liberty Global

London, United Kingdom

website


Category Company
Founded 2004
Sector Communications
Employees10,100
Revenue 7.2B USD (2022)
DESCRIPTION
Liberty Global's office in downtown Denver, Colorado.
Liberty Global's office in downtown Denver, Colorado.

Liberty Global is an international telecommunications and television company. It was formed in 2005 by the merger of the international arm of Liberty Media and UGC, and is one of the largest broadband. Liberty Global was founded in 2004 and is based in London, the United Kingdom.


DEAL STATS #
Overall 11 of 17
Sector (Media) 5 of 6
Type (Add-on Acquisition) 10 of 12
Country (Puerto Rico) 3 of 3
Year (2015) 2 of 3
Size (of disclosed) 11 of 12
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-03 Liberty Cablevision of Puerto Rico

Luquillo, Puerto Rico

Liberty Cablevision of Puerto Rico Ltd. is a provider of television, broadband Internet, and telephony services to customers. Liberty Cablevision of Puerto Rico Ltd. was founded in 1986 and is based in Luquillo, Puerto Rico.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-11-16 Cable & Wireless Communications

London, United Kingdom

Cable & Wireless Communications plc is a telecommunications company providing service to the Caribbean and Central America.

Buy $8.0B

Seller(S) 2

SELLER

HM Capital Partners

Dallas, Texas, United States

website


Category Private Equity Firm
Founded 1989
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

HM Capital (formerly Hicks, Muse, Tate & Furst, Inc.) is a private equity firm that seeks investments in middle-market companies valued between $100 million and $1 billion. HM Capital's investments include acquisitions of large corporate divestitures, acquisitions or recapitalizations of privately owned or publicly traded businesses, and acquisitions of distressed businesses either through a restructuring or bankruptcy process. Sectors of interest include media, consumer products, energy, financial services, food/beverage, information services and niche manufacturing. HM Capital Partners was formed in 1989 and is based in Dallas, Texas.


DEAL STATS #
Overall 14 of 15
Sector (Media) 5 of 5
Type (Add-on Acquisition) 5 of 5
Country (Puerto Rico) 1 of 1
Year (2015) 1 of 1
Size (of disclosed) 4 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-09-22 Viasystems Group

St. Louis, Missouri, United States

Viasystems Group, Inc. is a provider of complex multi-layer, rigid printed circuit boards (PCBs) and electro-mechanical solutions (E-M Solutions). Its PCBs serve as the “electronic backbone” of many kinds of electronic equipment, and its E-M Solutions products and services integrate PCBs and other components into electronic equipment, including metal enclosures, cabinets, racks and sub-racks, backplanes, cable assemblies and busbars.

Sell $927M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-06-27 Milk Specialties Global

Eden Prairie, Minnesota, United States

Milk Specialties Global is a human and animal nutrition company. The Human Nutrition Business Unit is a leading manufacturer of whey and milk protein ingredients used primarily in the sports nutrition and functional foods end-markets. Milk Specialties Global was founded in 1949 and is based in Eden Prairie, Minnesota.

Sell -
SELLER

Patriot Media and Communications

Greenwich, Connecticut, United States

website


Category Company
Founded 2002
Sector Communications
DESCRIPTION

Patriot Media and Communications LLC is a cable operator that focused on providing video (basic, premium, digital cable and video on demand), data (broadband Internet) and voice (VOIP) services.


DEAL STATS #
Overall 1 of 1
Sector (Media) 1 of 1
Type (Add-on Acquisition) 1 of 1
Country (Puerto Rico) 1 of 1
Year (2015) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-01 Puerto Rico Cable

Mercedita, Puerto Rico

Choice Cable is the incumbent cable operator serving the northern and western coastal region of Puerto Rico. The companys service area encompasses approximately 330,000 homes and its product offerings include video and high speed data.

Buy -