PE Firm Takes 100 Percent Stake in SpeedCast
[Satellite TODAY Insider 09-24-12] AsiaSat has sold its entire interest in SpeedCast to private equity firm, TA Associates, the company announced Sept. 24. SpeedCast has been a strong performer recently, and has grown significantly in recent times. Last year in an interview with Satellite News, Pierre-Jean Beyler, CEO, SpeedCast said the operator had doubled its revenues between 2007 and 2010. Also, when Satellite News spoke to Beylier this year, he said once again that the company expects to have double-digit revenue growth this year.
Since its inception in 1999, SpeedCast has used AsiaSat’s satellite capacity for the provision of satellite-based broadband services and is currently offering managed network services in more than 30 countries throughout Asia, the Middle East and Africa. Following the conclusion of the transaction, AsiaSat will continue to be a significant supplier of satellite capacity and technical services for SpeedCast.
Sippel was appointed to lead TA’s Asia operation in May of this year, and has wasted little time in investing in SpeedCast. SpeedCast represents TA’s eighth investment in the region.