BOSTON, MA / ST. PETERSBURG, FL — Riverside Partners' portfolio company, ITC Global, Inc. (“ITC Global” or the “Company”), a leading global provider of satellite communication services to the mining, energy and maritime sectors, announced today that it has completed its previously announced acquisition of NewSat Communications SA (“NewSat”), a privately-held Swiss-based leading provider of satellite communications solutions to the Europe, Middle East and Africa (“EMEA”) energy markets. This transaction creates one of the leading global companies in the energy satellite telecommunications market. The combined company has been working together since the announcement of the transaction in March 2013 and is already positioned to provide the most seamless coverage, service, and local support available for mining, energy and energy-related customers in the Americas, Africa, Europe, Australia and the Middle East. “I am proud to be working alongside the NewSat team,” said Joseph Spytek, co-founder and Chief Executive Officer of ITC Global. “With ITC Global's historical focus on the Gulf of Mexico, Africa and the Australian markets and NewSat's focus on Europe, Africa the Middle East and Asia, this business combination gives our clients a truly global network to rely upon, including coverage, service and local presence. With NewSat and ITC Global working as a single company in the global energy market for VSAT communications, I believe there is significant opportunity for us to change the way customers have historically thought about service and challenge the existing players with a customized, end to end solution for service anywhere, anytime.”
“We have been anxiously awaiting this day,” said Alexandre De Luca and Roland Loos, Managing Members of NewSat. “We have been working with ITC Global closely over the past few months and have seen firsthand how powerful this combination can be. We are even more convinced that this transaction will be a significant advancement for all of our current and prospective clients in the energy market and beginning today we will provide even more comprehensive products, services, and support around the globe."
ITC Global continues to demonstrate the Company’s unique and proven expertise in its three key verticals of mining, energy and maritime, and is growing its position as the leading satellite communications provider with unparalleled local presence to serve the mining, energy, and maritime markets across the globe. Joseph Spytek Co-founder and Chief Executive Officer, ITC Global
Mr. Spytek added, “ITC Global has been aggressively building out its global satellite communications footprint and customer support resources since receiving investment capital from Riverside Partners in January 2012. In addition to the acquisition of NewSat, the Company acquired Spidersat Communications Limited, an African-based provider of satellite communications services to mining customers in Africa in 2012. ITC Global continues to demonstrate the Company’s unique and proven expertise in its three key verticals of mining, energy and maritime, and is growing its position as the leading satellite communications provider with unparalleled local presence to serve the mining, energy, and maritime markets across the globe.”
“This is a great step forward for ITC Global,” added Steven F. Kaplan, General Partner at Riverside Partners. “Alex and Roland are joining a great team at ITC Global, and we are excited to broaden the Company's global reach and expertise in the energy markets.”
About Riverside Partners Founded in 1989, Riverside Partners is a middle market private equity firm currently investing Riverside Fund V, L.P. The fund focuses on growth-oriented companies primarily in the healthcare and technology industries. Riverside Partners is particularly experienced at partnering with founders, owners and management teams and it brings substantial domain expertise and operating experience to its portfolio companies. Today, Riverside Partners manages $1 billion of equity capital and seeks to make investments in companies with revenues between $20 and $200 million and with $5-$25 million of EBITDA. For more information, please visit: www.riversidepartners.com
About ITC Global ITC Global is a leading satellite telecommunications service provider, operating an enterprise grade satellite network with complete global coverage. Delivering a complete set of satellite communications solutions worldwide, ITC Global's services include custom network design, site engineering, hardware, communications support and high speed reliable bandwidth. With facilities and engineering and technical support staff across the Americas, Europe, Asia, Africa and Australia, ITC Global provides satellite communications systems to some of the world's largest and most successful mining, energy, and maritime companies in some of the most difficult and remote locations. NewSat Communications SA and Spidersat Communications Limited operate within the family of ITC Global. For more information, please visit www.itcglobal.com.