M&A Deal Summary

NJFX Acquires SubCom

On February 27, 2024, NJFX acquired communications company SubCom from Cerberus Capital Management

Acquisition Highlights
  • This is NJFX’s 1st transaction in the Communications sector.
  • This is NJFX’s 1st transaction in the United States.
  • This is NJFX’s 1st transaction in New Jersey.

M&A Deal Summary
Date 2024-02-27
Target SubCom
Sector Communications
Buyer(s) NJFX
Sellers(s) Cerberus Capital Management
Deal Type Add-on Acquisition

Target

SubCom

Eatontown, New Jersey, United States
SubCom is delivers and maintains the fiber optic cable systems that transmit nearly all of the world’s data and communications. SubCom designs, manufactures, deploys, maintains, and operates modern networks with an industry-leading track record for delivery and performance, providing the most comprehensive technical and marine expertise, with the highest quality, and most reliable solutions.

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Buyer(S) 1

Buyer

NJFX

Wall Township, New Jersey, United States
Category Company
Founded 2015
Sector Communications
DESCRIPTION

NJFX is involved in carrier-neutral colocation and subsea infrastructure, connecting carrier-grade networks. NJFX hosts over 35 global and U.S. operators, including multinational banks that rely on it for their "never down" network strategies. NJFX is based in Wall Township, New Jersey.

DEAL STATS #
Overall 1 of 1
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (New Jersey) 1 of 1
Country (United States) 1 of 1
Year (2024) 1 of 1

Seller(S) 1

SELLER

Cerberus Capital Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1992
PE ASSETS 55.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Cerberus Capital Management is a private investment firm that targets a wide range of global investments. Cerberus primarily looks for undervalued or distressed situations. Industry sectors of interest include aerospace and defense, apparel, automotive and industrial, building products, commercial services, consumer and retail, financial services, healthcare, manufacturing and distribution, paper, packaging, and printing, real estate, technology, telecommunications, transportation, and travel. In addition to private equity investing, Cerberus also provides corporate credit and acquires real estate. Cerberus was formed in 1992 by Steve Feinberg and is based in New York City.

DEAL STATS #
Overall 54 of 54
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 27 of 27
State (New Jersey) 1 of 1
Country (United States) 36 of 36
Year (2024) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2023-08-31 Spring EQ

Conshohocken, Pennsylvania, United States

Spring EQ is a national home equity lender providing flexible and tailored financing solutions directly to consumers with a national network of experienced brokers and partners. It offers a broad range of home equity products and delivers a simple and streamlined process that results in faster funding, trustworthy loans, and less frustration for consumers today. Spring EQ was formed in 2016 and is based in Conshohocken, Pennsylvania.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-05-28 M1 Support Services

Denton, Texas, United States

M1 Support Services provides aircraft Maintenance, Repair, and Overhaul (MRO), modification, flight training, logistics support, and supply chain management services. M1 Support Services was founded in 2003 and is based in Denton, Texas.

Buy -
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