MTN Recapitalizes Amid Strong Growth
Miramar, Fla.-based Maritime Telecommunications Network (MTN) has recapitalized barely more than a year after it was acquired for $30 million by New York-based investment firm Falconhead Capital during February last year. The successful refinancing included the retirement of all remaining acquisition-related debt, the return to Falconhead investors of approximately 80 percent of the equity capital they committed to the deal and a new bank facility.
MTN is the largest provider of satellite-based communications and networking services to the cruise and offshore oil and gas industries, while Falconhead specializes in leisure-, lifestyle-, media- and sports-related businesses. For in-depth coverage of this story, see the April 5 issue of Satellite News. For more information about subscribing to PBI Media’s satellite newsletters, check out our Web site at www.satellitetoday.com.