Northgate Capital Takes Majority Stake in Elara Comunicaciones
[Via Satellite 08-04-2015] Global private equity fund manager Northgate Capital has acquired a majority stake in Elara Comunicaciones through a transaction in which Northgate will invest up to $38 million in both primary and secondary transactions. According to Elara, the investment will help further develop the company’s product portfolio and execute its expansion plan.
The teleport communications company provides satellite services for voice, data, Wi-Fi, and cellular connectivity to customers in verticals such as fixed line and mobile carriers, government and diverse industries such as energy. Elara has several initiatives underway to grow its operations in Mexico and across Latin America.
“Mexico and Latin America are in the need of increased connectivity solutions both on the public and private sectors. The increased need for connectivity services, coupled with innovative cost-effective satellite technologies, makes the current market conditions very attractive to continue expanding Elara’s business offering,” said Gabriel Mizrahi, principal at Northgate Capital Mexico.