M&A Deal Summary

HM Capital Partners and Patriot Media and Communications Acquire Puerto Rico Cable

On December 1, 2007, private equity firm HM Capital Partners and Patriot Media and Communications acquired media company Puerto Rico Cable

Acquisition Highlights
  • This is HM Capital Partners’ 5th and Patriot Media and Communications’ 1st transaction in the Media sector.
  • This is HM Capital Partners’ 1st and Patriot Media and Communications’ 1st transaction in Puerto Rico.
Investment Fate
  • Puerto Rico Cable was sold to a publicly-traded strategic buyer in 2015 for 276M USD.

M&A Deal Summary

Date 2007-12-01
Target Puerto Rico Cable
Sector Media
Buyer(s) HM Capital Partners
Patriot Media and Communications
Deal Type Buyout (LBO, MBO, MBI)

Target

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.

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Buyer(S) 2

Buyer

HM Capital Partners

Dallas, Texas, United States

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 12 of 18
Sector: Media M&A 5 of 5
Type: Buyout (LBO, MBO, MBI) M&A Deals 10 of 14
Country: Puerto Rico M&A 1 of 1
Year: 2007 M&A 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-07-12 Swift

Greeley, Colorado, United States

Swift & Company is a processor of fresh beef and pork in the U.S. and a beef processor in Australia. Swift processes, prepares, packages, markets, and delivers fresh, further processed and value-added beef and pork products to customers in the United States and international markets. Swift & Company was formed in 1855 and is based in Greeley, Colorado.

Sell $1.5B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-12-20 Advanced Refreshment

Mercer Island, Washington, United States

Advanced Refreshment is a manufacturer of bottled water products and cold fill value-added beverages such as teas and flavored water. With five production facilities across the United States, Advanced Refreshment is a low cost production platform with the ability to service its customers nationally. Advanced Refreshment was founded in 1998 and is based in Mercer Island, Washington.

Buy -
Buyer

Patriot Media and Communications

Greenwich, Connecticut, United States

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 M&A 1 of 1
Type: Buyout (LBO, MBO, MBI) M&A Deals 1 of 1
Country: Puerto Rico M&A 1 of 1
Year: 2007 M&A 1 of 1
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-03 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.

Sell $276M