M&A Deal Summary

SpeedCast Acquires Globecomm Systems

On August 28, 2018, SpeedCast acquired communications company Globecomm Systems from Tennenbaum Capital Partners for 135M USD

Acquisition Highlights
  • This is SpeedCast’s 7th transaction in the Communications sector.
  • This is SpeedCast’s 2nd largest (disclosed) transaction.
  • This is SpeedCast’s 4th transaction in the United States.
  • This is SpeedCast’s 1st transaction in New York.

M&A Deal Summary
Date 2018-08-28
Target Globecomm Systems
Sector Communications
Buyer(s) SpeedCast
Sellers(s) Tennenbaum Capital Partners
Deal Type Add-on Acquisition
Deal Value 135M USD
Advisor(s) Kirkland & Ellis (Legal)

Target

Globecomm Systems

Hauppauge, New York, United States
Globecomm Systems, Inc. is a developer and managing network complex communications solutions with a strong track record of growth and innovative engineering that leverages its global communications network. Globecomm Systems, Inc. was founded in 1994 and is based in Hauppauge, New York.

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Buyer(S) 1

Buyer

SpeedCast

Houston, Texas, United States
Category Company
Founded 1989
Sector Communications
Revenue 118M AUD (2014)
DESCRIPTION

Speedcast is a provider of remote communications and IT services in the world. Speedcast’s fully managed service is delivered via a leading global, multi-access technology, multi-band and multi-orbit network of 70+ satellites, and an interconnecting global terrestrial network, bolstered by extensive on-the-ground local support from 40+ countries. This global “network of networks” allows customers to fully rely on the most robust, integrated infrastructure available in the market for their mission-critical applications. Speedcast is uniquely positioned as a strategic business partner, tailoring communications, IT, and digital solutions to meet unique customer needs and enable business transformation. With a passionate customer focus and a strong safety culture, Speedcast serves more than 2,000 customers in more than 140 countries in sectors such as Maritime, Energy, Mining, Enterprise, Media, Cruise, NGOs and Government. Speedcast was formed in 1989 and is based in Houston, Texas.

DEAL STATS #
Overall 8 of 8
Sector (Communications) 7 of 7
Type (Add-on Acquisition) 7 of 7
State (New York) 1 of 1
Country (United States) 4 of 4
Year (2018) 1 of 1
Size (of disclosed) 2 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-19 UltiSat

Gaithersburg, Maryland, United States

UltiSat, Inc. is a provider of end-to-end network and satellite communications services, UltiSat designs, implements, maintains, and operates turnkey satellite systems for government, government contractors, nongovernment organizations (NGOs), service providers, and enterprises in more than 130 countries on every continent. UltiSat, Inc. was founded in 2003 and is based in Gaithersburg, Maryland.

Buy $100M

Seller(S) 1

SELLER

Tennenbaum Capital Partners

Santa Monica, California, United States
Category Asset Manager
Founded 1999
PE ASSETS 18.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION
Tennenbaum Capital Partners' headquarters in Santa Monica, California.
Tennenbaum Capital Partners' headquarters in Santa Monica, California.

Tennenbaum Capital Partners is a private investment group focused on providing financing solutions to middle-market companies in a variety of sectors. The Firm separates its activity into two segments - performing and distressed. The performing group looks to invest $10 to $125 million to support recapitalizations, LBOs, acquisitions, and growth capital needs of companies valued between $100 million and $1.5 billion. The special situations group looks to provide $20 to $125 million to support rescue needs, as well as fund complex situations or secondary market purchases. Tennenbaum primarily considers opportunities in North America and Europe, but will consider other geographies. Tennenbaum Capital Partners was formed in 1999 and is based in Santa Monica, California.

DEAL STATS #
Overall 7 of 9
Sector (Communications) 1 of 1
Type (Add-on Acquisition) 4 of 5
State (New York) 1 of 1
Country (United States) 6 of 8
Year (2018) 1 of 2
Size (of disclosed) 4 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-02-20 Cognate BioServices

Memphis, Tennessee, United States

Cognate BioServices, Inc. is a fully-integrated contract bioservices organization that provides a systematic level of scientific and management expertise. Cognate provides full development and cGMP manufacturing services to companies and institutions engaged in the development and manufacture of cell-based products. Cognate BioServices was founded in 2002 and is based in Memphis, Tennessee.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-12 Hanley Wood

Washington, District of Columbia, United States

Hanley Wood is a media and information company serving the housing and commercial design and construction industries. Hanley Wood provides magazines and Web sites, marquee trade shows and events, market intelligence data and custom marketing solutions. Hanley Wood was founded in 1976 and is based in Washington. District of Columbia.

Sell -
Mergr

Product

Company

Legal