GTA TeleGuam is now a wholly-owned company of Advantage Partners, having completed the transfer of ownership to the new private equity firm from Shamrock Capital Advisors.
From all accounts, it will be business as usual at GTA TeleGuam.
Similar to other deals like competitive fiber provider Fibertech, which was sold by Ridgemont Equity Partners to Court Square last year, GTA's new owners plans to retain all GTA TeleGuam employees and its executive team. Because the deal is a change of investors versus an integration of existing operations, the deal will be transparent to GTA's employees.
Dan Moffat, President and CEO of TeleGuam said that Advantage Partners will provide it with the "corporate and financial resources needed to successfully lead the company through its next growth phase."
Although neither GTA TeleGuam nor Advantage would disclose financial terms of the private transaction, GTA TeleGuam closed its deal with AP Funds after it secured necessary government and regulatory approvals from both the Guam Public Utilities Commission and the FCC.
For more:
- see the release
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