Private equity firm TA Associates invests in Australian satellite communications firm
TA Associates, a private equity firm with offices in Boston, said Thursday that it has completed the acquisition of Australian Satellite Communications Pty Ltd., a company that provides satellite communications services to Australia’s oil-and-gas and mining industries, among others.
Terms of the transaction were not disclosed.
TA Associates said it partnered on the acquisition with SpeedCast Ltd., a Hong Kong-based company that provides similar services in more than 30 countries in Asia, the Middle East, and Africa. TA completed a buyout of SpeedCast earlier this year, TA’s eighth investment in Asia.
In a statement, Edward F. Sippel, TA Associates Asia Pacific Ltd.’s managing principal for the Asia Pacific region, referred to Australian Satellite Communications as ASC.
“ASC is an ideal, highly complementary partner for SpeedCast,” he said.
In a separate statement, SpeedCast chief executive Pierre-Jean Beylier added: “With the acquisition of ASC, SpeedCast consolidates its leadership position in Asia and extends its penetration into the important Australian market, particularly for the oil and gas and mining verticals.”
TA Associates has invested in more than 400 companies globally and has raised $18 billion in capital. Besides Boston, TA has offices in Menlo Park, Calif.; London; Mumbai; and Hong Kong.Chris Reidy can be reached at email@example.com.