TAMUNING, Guam, Feb. 1, 2017 /PRNewswire/ -- Huntsman Family Investments and its affiliates ("HFI") announced today that they have entered into a definitive agreement to acquire GTA TeleGuam ("GTA"), a leading provider of telecommunications services in Guam, from funds serviced by Advantage Partners, a Japanese private equity firm. The transaction is subject to federal and Guam regulatory approvals and is expected to close later this year.
GTA is a leading quadruple-play telecommunications operator providing wireless, high-speed internet, IPTV and fixed voice services in Guam. GTA is also a part of a consortium of U.S. and Asian telecommunications companies that are constructing SEA-US, a new submarine cable system to connect Southeast Asia and the United States via Guam.
"This transaction represents our first investment in Guam and we are excited to be associated with the premier provider of telecommunications services on the island. We are committed to ensuring our customers have the highest-quality experience," commented Paul Huntsman, President and CEO of Huntsman Family Investments. "In keeping with our family's commitment to the communities in which we operate, we hope this investment leads to more opportunities to invest back into the Guam community."
Under US-based HFI ownership, GTA will continue to be locally managed, operated and dedicated to improving connectivity across the island and internationally.
"Advantage Partners has been an exceptional partner over the last five years, by providing GTA with the necessary resources to transform into a full communications service provider and greatly enhancing our high-speed wireless and in home internet and TV experience for our customers," said Robert Haulbrook, GTA President and CEO. "I am pleased that Advantage Partners has identified Huntsman Family Investments as the right new investor for GTA. HFI will enable our company to continue the development of the business to better serve the needs of our growing consumer, enterprise, and government customer base. "
Huntsman Family Investments recently acquired American Pacific Corporation, which supplies rocket-grade ammonium perchlorate used in rockets and missiles utilized by the Department of Defense and NASA. Paul Huntsman also recently acquired the Salt Lake Tribune Newspaper.
"Guam plays a critical role in representing our country's interests in the Pacific and maintaining the integrity of our nation's security initiatives in the region. Following our investment in American Pacific Corporation, our investment in GTA allows us to continue our broader mission in supporting our military," said Benjamin Wu, Partner at Huntsman Family Investments. "Furthermore, Guam is a gateway between Asia and the US and it is crucial that we continue building GTA's network infrastructure to meet our customers' growing demand for secure international connectivity."
Latham & Watkins LLP acted as legal counsel to Huntsman Family Investments. Kirkland & Ellis LLP acted as legal counsel and Citigroup acted as financial advisor to GTA and Advantage Partners.
About Huntsman Family Investments
Huntsman Family Investments is the private investment platform for the Jon M. Huntsman, Sr. family. Headquartered in Salt Lake City, Utah, Huntsman Family Investments seeks to make direct, long-term investments in diversified industries around the globe.
For more information, please visit www.hfinvestments.com.
Contact
Benjamin Wu
ben@hfinvestments.com
P: (801) 584-5921
About GTA
GTA provides a broad array of communications services in Guam. These include internet, wireless, advanced digital TV, local and long-distance telephone service and carrier-class data circuits. The company also operates a data center in Guam for business data storage and managed wide-area networking. Based in Tamuning, Guam, GTA is privately owned and locally managed.
For more information, please visit www.gta.net.
Contact
Michele Catahay
mcatahay@gta.net
P: (671) 487-2316