Moorgate Capital Partners Acquires ITC Service Group, Inc.

CITRUS HEIGHTS, Calif. and NEW YORK, June 6, 2016 /PRNewswire/ -- Moorgate Capital Partners, LLC ("Moorgate"), a middle market merchant bank focused on the technology, media, and communications industries, is pleased to announce that an affiliate has partnered with management to acquire substantially all of the assets of ITC Service Group, Inc. ("ITC") from its founding shareholders.

ITC is a leading provider of planning, design, installation and maintenance services to the telecommunications and IT industries.  Most recently, the company has been focused on designing, installing, maintaining and providing operational management services for fiber–to-the-home networks, an area that is expected to grow dramatically over the next several years as major industry participants deploy significant capital to build and upgrade networks.  ITC currently employs approximately 700 people across the United States.

Tim Sauer, ITC's founder, who will remain an owner and the President of ITC, said "We are excited to partner with Moorgate and leverage their financial and industry expertise in order to accelerate the growth of the company."

"ITC has a strong heritage in the telecommunications industry.  With a reputation for quality and innovation, ITC has become a leading service provider to a number of major fiber-to-the-home and broadband operators," commented Michael Alexander, Partner at Moorgate.  "We are delighted to be partnering with ITC's experienced management team and look forward to working together to strengthen the company's position in this rapidly evolving industry."

Debt financing for the transaction was provided by Credit Suisse Park View BDC, Inc., QS Capital Strategies L.P. (Quilvest), and California Bank & Trust.

Wollmuth Maher & Deutsch LLP and Davis Polk & Wardwell LLP acted as legal advisors to Moorgate in connection with the transaction.  The Independence Group acted as financial advisor and Meissner Joseph & Palley, Inc. acted as legal advisor to ITC.

About ITC Service Group

ITC Service Group provides broadband installation, design, and staffing services to the telecommunications and IT industries.  ITC is headquartered in Citrus Heights, CA. For more information, visit www.callitc.com. 

About Moorgate Capital Partners

Moorgate Capital Partners is an independent merchant bank and advisory firm focused on the technology, media, and communications industries.  Moorgate partners with industry leading executives and management teams to source and invest in middle market growth opportunities. Moorgate has offices in New York, NY and San Francisco, CA.

MOORGATE ADVISES FOUNDING MANAGEMENT TEAM ON ACQUISITION OF SALARY.COM FROM IBM

Wellesley, MA -- Salary.com, the technology leader in employee compensation data, software and services, today announced that it has been acquired from IBM by its founding team. Under the leadership of the returning management team, Salary will deliver next generation analytical tools that further enable companies to manage their compensation expenditures as well as provide the market at large with the most accurate, objective information related to employee compensation.

"Compensation is complex, and for today's employers to be successful, they need the tools and data that enable them to simplify the connections between people and pay," said Kent Plunkett, CEO of Salary.com. "Salary is the most widely recognized and trusted source for employer-reported compensation data to facilitate decision-making around employee compensation. On behalf of the founding team, we are thrilled to provide our customers with the high-touch service and expertise that they expect in the compensation space."

Founded in 1999, Salary.com grew rapidly to become one of the most widely recognized sources for reliable information about employee-reported pay levels and compensation-related best practices, trends and policies. Following its move to IPO in 2007, Salary.com was acquired by Kenexa in 2010, and IBM acquired Kenexa in 2012. The original team, in partnership with co-investors H.I.G. Capital and Prudential Capital Group, have reacquired Salary.com from IBM, along with related compensation offerings. The returning team has the goal of enhancing the company's current product offerings and creating additional solutions that help consumers and customers make well-informed, data-based compensation decisions.

Moorgate Securities LLC acted as financial advisor to the founding management team in connection with the transaction.  For additional information on this transaction, please see the company's press release.

Milestone Communications Inc. Activities 2015

Press Release

November 30, 2015

Castle Pines, CO – Milestone Communications, Inc., a leading brokerage firm serving the cable telecommunications industry, served as advisor to Zito Midwest, LLC, LLC in their purchase from Herr Cable Company Partnership of the cable television system serving portions of Lycoming and Sullivan Counties in Pennsylvania. LLC.  Michael W. Drake of Milestone Communications, Inc. represented Zito Midwest, LLC in the transaction.

Press Release

September 30, 2015

Castle Pines, CO – Milestone Communications, Inc., a leading brokerage firm serving the cable telecommunications industry, served as advisor to Atlantic Broadband (Penn), LLC in the sale of their cable television system serving Moorefield, WV to Hardynet. LLC.  Michael W. Drake of Milestone Communications, Inc. represented Atlantic Broadband (Penn), LLC in the transaction.

Press Release

March 31, 2015

Castle Pines, CO – Milestone Communications, Inc., a leading brokerage firm serving the cable telecommunications industry, served as advisor to Buford Media Group, LLC in the sale of their cable television system serving approximately 1,067 RGU’s in Pryor and portions of Mayes County, Oklahoma to Vyve Broadband A, LLC.  Michael W. Drake of Milestone Communications, Inc. represented Buford Media Group, LLC in the transaction.

Press Release

January 28, 2015

Castle Pines, CO – Milestone Communications, Inc., a leading brokerage firm serving the cable telecommunications industry, served as advisor to Buford Media Group, LLC and Buford Communications I, LP in the sale of their cable television systems serving approximately 4,549 RGU’s in Serving Lonoke, Lewisville, Greenbrier, Plumerville, Marshall and Lee County, Arkansas, Bernice and Kentwood, Louisiana and NAS Meridian, Sumrall and Coahoma, Mississippi to CableSouth Media III, LLC.  Michael W. Drake of Milestone Communications, Inc. represented Buford Media Group, LLC and Buford Communications I, LP in the transaction.

Press Release

January 15, 2015

Castle Pines, CO – Milestone Communications, Inc., a leading brokerage firm serving the cable telecommunications industry, served as advisor to Mid Missouri Broadband and cable, LLC in the sale of its cable television systems serving approximately 740 RGU’s in Linn and Loose Creek, Missouri to Cable America Missouri LLC.  Michael W. Drake of Milestone Communications, Inc. represented Mid Missouri Broadband and Cable, LLC in the transaction.

Bluesky launches as mobile service operator in New Zealand

Bluesky today launched as Spark’s second prepay Mobile Virtual Network Operator (MVNO) in New Zealand, with competitive prepay mobile cellular plans to serve the Samoan community in New Zealand.

Bluesky is a leading Pacific regional telecommunications operator providing mobile, broadband, TV and landline services in American Samoa, Samoa and the Cook Islands.

“This is an exciting time for Bluesky and it’s about connecting our Pacific people. We are a growing Pacific operator, and we want to be the preferred network for Pacific people globally” says Bluesky Pacific Group CEO and President, Aoe’e Adolfo Montenegro.

Bluesky has been looking for some time at how to best service the communication needs of Samoans in New Zealand. Following on from extensive research with the New Zealand Samoan community, Bluesky has developed a range of plans tailored specifically for them that include competitive rates within NZ and to Samoa. All plans are prepay, rather than contract, with customers having the option of Topping-Up online on the Bluesky website for New Zealand (www.blueskynz.co.nz) and at convenience stores.

In line with Bluesky’s deep commitment to serving local communities, it is also partnering with Samoan Churches to support their fundraising initiatives.

Toleafoa Tiafau Douglas Creevey, Director and New Zealand Country Manager for Bluesky, commented that market research confirmed the majority of New Zealand-based Samoans already recognise and relate to the Bluesky brand. And with most Samoans calling their friends and family back home at least once a month, they want a service that allows them to do this in a more affordable and convenient way.

As a Spark prepay MVNO, Bluesky customers will enjoy the reliability and coverage of Spark’s nationwide network. Bluesky will have coverage in over 97% of places where Kiwis live and work and have access to Spark’s Super fast 4G network.

Lindsay Cowley, Spark GM Product Wholesale and International has welcomed the partnership, saying it highlights Spark New Zealand’s commitment to the Pacific. “Spark New Zealand’s size and scale, our industry knowledge and our deep-rooted connections to the Pacific put us in the perfect place to help propel innovative new services like Bluesky forward. We have a tried and true prepaid MVNO platform and they have a unique new approach to service the needs of a market segment - it’s a great combination.”

To join Bluesky in New Zealand, customers’ will need a Bluesky SIM card. They will have the option of a new ‘0204’ Bluesky number or transferring over their existing local New Zealand number. Bluesky will also offer a range of affordable device options, however customers can use any unlocked mobile phone compatible with Spark’s network.

About Bluesky

Bluesky Group is a leading regional telecommunications operator providing various combinations of mobile, broadband, TV and landline services in American Samoa, Samoa, Cook Islands, and New Zealand.

Bluesky Communications was launched in American Samoa on July 10, 1999. As a mobile phone company, Bluesky subsequently grew to encompass ISP and cable TV operations. Since 2009, Bluesky Pacific Group has operated the only submarine fibre cable into American Samoa and Samoa from Hawaii.

Expanding into Samoa in March 2011, Bluesky Group purchased 75% of SamoaTel. Bluesky subsequently expanded into the Cook Islands in February 2015 through purchasing 60% of Telecom Cook Islands from Spark NZ. Bluesky Holdings NZ Limited is now part of the Bluesky Pacific Group of companies.

Since its inception, Bluesky has accomplished a number of technical achievements through a determination to enable Pacific people and businesses to access new technologies, reduce costs, empower employees and thrive as a business.

Bluesky is an active contributor to its communities in all the countries it operates in and is a major supporter of rugby throughout the region. Recent activities include being the jersey sponsor for Rugby 7s in Samoa and American Samoa as well as the exclusive Telecommunications Sponsor and Associate Sponsor for the historic Manu Samoa vs All Blacks game hosted in Apia on July 8th, 2015.

Bluesky believes in local ownership being critical to the success of its operations. 46% of Bluesky Samoa is owned by Samoan investors with profits being returned to Samoans. A similar ownership structure is in place in its Cook Islands operation with shares reserved allowing local staff and Cook Islands investors to participate in the ownership of Blueskly in the Cook Islands.

For media enquiries contact:

Nicole Crump, +64 9 215 7858 / +64 21 898 307, ncrump@blueskypacificgroup.com

Starman buys Lithuania’s KAVA to strengthen Baltic presence

Estonian cable TV company Starman, which earlier this year completed the EUR56.3 million (USD62 million) purchase of Lithuanian operator Cgates, has further strengthened its presence in the Baltic country with the acquisition of fibre-optic cable network operator KAVA. The value of the deal, which is subject to approval from Lithuania’s Competition Council and the Communications Regulatory Authority (RRT), has not been disclosed. KAVA provides telecoms services to around 20,000 customers in Vilnius, Klaipeda, Siauliai and Panevezys, with a network passing around 100,000 households.

In February 2015 Starman acquired 100% of Cgates in a deal that also saw the Estonian cableco’s owner – Swedish investment group East Capital Explorer – increase its ownership in Starman from 51% to 63%. Cgates is one of Lithuania’s largest cable network operators, providing cable and digital television, fixed telephony and fibre-optic broadband internet to around 200,000 customers in twelve cities, including Vilnius, Alytus, Marijampole, Vilkaviskis, Silute, Lentvaris and Kaunas. Its infrastructure currently passes around 300,000 homes. ‘Cgates is now becoming a nationwide operator, which is a milestone in our strategy for the company,’ commented Gert Tiivas, chairman of Starman, adding: ‘The acquisition of KAVA will increase the company’s household coverage by 30% and thereby strengthen its position in the market. Cgates is already a strong number two, but it is still a fragmented market with many growth opportunities.’

Bluesky Group Expands to Cook Islands

The Bluesky Group has welcomed Telecom Cook Islands as its newest operation.On 23 February, 2015 Bluesky’s Cook Islands subsidiary, Teleraro Ltd, completed the purchase of a 60% interest in Telecom Cook Islands from Spark New Zealand. The Cook Islands Government maintains its 40% ownership in Telecom Cook Islands. Teleraro’s ownership structure also includes participation for Cook Islands investors and Telecom Cook Islands employees.

Telecom Cook Islands Limited is a leading telecommunications services company in the South Pacific providing fixed telephony, mobile telephony and Internet services for the population of the Cook Islands.

“We are delighted to have completed this important expansionfor the Bluesky group, which is in line with our regional growth strategy and further strengthens our capability to deliver world class telecommunications services to our Pacific island markets through local partnerships.It is a significant milestone for us, as Bluesky expands its operations to cover threePacific Island territories. With the addition of Telecom Cook Islands to the Bluesky group, we expand our collaboration with our Samoan investment partners and welcome our new Cook Islands partners. ”said Bluesky Group CEO, Adolfo Montenegro.

The 60% stake in Telecom Cook Islands was purchased for approximately NZD$23 million with financing provided by a regional bank.

“We are pleased to have Telecom Cook Islands team join our Bluesky family. As we integrate the operations, we look forward to building upon the delivery of outstanding customer service and high quality telecommunications solutions to the people of the Cook Islands, in line with our vision of being #1 at connecting Pacific people.” said Mr Montenegro.

About Bluesky

Bluesky Communications was established in American Samoa in 1999 and expanded its operations to Samoa in 2011 with a sucessful bid in the privatization of SamoaTel. Bluesky acquired Pacific Island Cable in 2009 and is the sole provider of cable television services to Samoa and American Samoa through Moana TV. Bluesky’s affiliate company, American Samoa Hawaii Cable LLC, brought submarine optic fibre cable connectivity to the Samoan islands in 2009. Bluesky’s commitment to quality, coverage and service has made it a technology driver and leader in Samoa and American Samoa. Bluesky was acquired by eLandia Group in 2006 and now forms part of Amper Group.

Contact Bluesky or Bluesky Samoa

Filifotu Vaai +685-755-1089/ 684-258-1089 marketing@blueskysamoa.com marketing@bluesky.as

This press release and other statements to be made by the Company contain certain forward-looking statements within the meaning of the Private Securities Litigation Reform Act, including but not limited to statements relating to projections and estimates of earnings, revenues, cost-savings, expenses, or other financial items; statements of management's plans, strategies, and objectives for future operations, and management's expectations as to future performance and operations and the time by which objectives will be achieved; statements concerning proposed new products and services; and statements regarding future economic, industry, or market conditions or performance. Forward-looking statements are typically identified by words or phrases such as "believe," expect," anticipate," project," and conditional verbs such as "may," "could," and "would," and other similar expressions. Such forward-looking statements reflect management's current expectations, beliefs, estimates, and projections regarding the Company, its industry and future events, and are based upon certain assumptions made by management. These forward-looking statements are not guarantees of future performance and necessarily are subject to risks, uncertainties, and other factors (many of which are outside the control of the Company) that could cause actual results to differ materially from those anticipated.

Milestone Communications Inc. Activities 2014

Press Release

December 15, 2014

Castle Pines, CO – Milestone Communications, Inc., a leading brokerage firm serving the cable telecommunications industry, served as advisor to Buford Media Group, LLC in the sale of its cable television system serving approximately 180 RGU’s in Walters, Temple and Waurika, Oklahoma to Southern Plains Cable, LLC.  Michael W. Drake of Milestone Communications represented Buford Media Group, LLC in the transaction.

Press Release

November 1, 2014

Castle Pines, CO – Milestone Communications, Inc., a leading brokerage firm serving the cable telecommunications industry, served as advisor to Horizon Cable, Inc. in the sale of its cable television system serving approximately 219 RGU’s in Novato and Hamilton in Marin County, California to Sonic.net.  Michael W. Drake of Milestone Communications represented Horizon Cable, Inc. in the transaction.

Press Release

October 1, 2014

Castle Pines, CO – Milestone Communications, Inc., a leading brokerage firm serving the cable telecommunications industry, served as advisor to RB3 LLC in the sale of its cable television systems serving approximately 2,300 RGU’s in Devine, Goliad, Hondo, Kenedy, Pleasanton and Three Rivers and portions of Medina, Goliad, Karnes, Atascosa and Live Oak Counties in Texas to Coyote Cable Assets, LLC.  Michael W. Drake of Milestone Communications represented RB3 LLC in the transaction.

Press Release

August 1, 2014

Castle Pines, CO – Milestone Communications, Inc., a leading brokerage firm serving the cable telecommunications industry, served as advisor to Lakeview Cable, Inc. in the sale of its cable television systems serving approximately 1,676 RGU’s in Cache, Pecan Valley, Indiahoma, Snyder, Mountain Park and Geronimo, Oklahoma and in surrounding areas in Comanche and Kiowa Counties in Oklahoma to Vyve Broadband A. LLC  Michael W. Drake of Milestone Communications represented Lakeview Cable, Inc. in the transaction.

Press Release

July 1, 2014

Castle Pines, CO – Milestone Communications, Inc., a leading brokerage firm serving the cable telecommunications industry, served as advisor to RB3 LLC  in the sale of its cable television system\s serving approximately 176 RGU’s in Van Horn, Texas to Neu Ventures, Inc., dba Mountain Zone TV Systems.  Michael W. Drake of Milestone Communications represented RB3 LLC in the transaction.

Press Release

June 2, 2014

Castle Pines, CO – Milestone Communications, Inc., a leading brokerage firm serving the cable telecommunications industry, served as advisor to Haefele TV, Inc. LLC in the sale of its cable television systems serving approximately 133 RGU’s in the Towns of Smithville and Greene, New York to Time Warner Cable Northeast LLC, D/B/A Time Warner Cable.  Michael W. Drake of Milestone Communications represented Haefele TV, Inc. in the transaction.

Press Release

May 15, 2014

Castle Pines, CO – Milestone Communications, Inc., a leading brokerage firm serving the cable telecommunications industry, served as advisor toRB3 LLC in the sale of its cable television systems serving approximately 706 RGU’s in Eufaula, McIntosh County, and Checotah Oklahoma to Vyve Broadband A, LLC.  Michael W. Drake of Milestone Communications represented RB3 LLC in the transaction.

Press Release

March 31, 2014

Castle Pines, CO – Milestone Communications, Inc., a leading brokerage firm serving the cable telecommunications industry, served as advisor to Microwave Distribution Services, Inc. in the sale of its cable television systems serving approximately 210 RGU’s in Ignacio, Colorado to Cap Cable, LLC.  Michael W. Drake of Milestone Communications represented Microwave Distribution Services, Inc. in the transaction.

Press Release

February 15, 2014

Castle Pines, CO – Milestone Communications, Inc., a leading brokerage firm serving the cable telecommunications industry, served as advisor to TGN Cable in the sale of its cable television systems serving approximately 624 RGU’s in Lake Graham, Newcastle and Throckmorton, Texas to Zito Graham, LLC.  Michael W. Drake of Milestone Communications represented TGN Cable in the transaction.

Liberty Puerto Rico to buy Choice Cable for $272.5M

Liberty Cablevision of Puerto Rico LLC announced Wednesday that affiliates of its indirect majority shareholder, Liberty Global and its indirect minority shareholder, Searchlight Capital Partners, L.P., have entered into an agreement to acquire 100 percent of the parent of Puerto Rico Cable Acquisition Company Inc., which does business as Choice Cable TV.

This transaction is worth approximately $272.5 million, Liberty officials said.

Choice is the largest combined cable TV, Internet and telephony services provider in southern and western Puerto Rico. Its headquarters are located in Ponce and its network covers the municipalities of Quebradillas, Isabela, Aguadilla, Moca, Aguada, Rincón, Añasco, Las Marías, Mayagüez, Hormigueros, Cabo Rojo, San Germán, Lajas, Sabana Grande, Guánica, Yauco, Guayanilla, Adjuntas, Peñuelas, Ponce, Jayuya, Juana Díaz, Villalba, Coamo, Santa Isabel, Salinas, Guayama, Arroyo, Patillas, and Maunabo.

Upon completion of the transaction — expected to in the first half of 2015 — the combined network will reach more than 80 percent of Puerto Rican homes, and the combined business will serve more than 700,000 revenue generating units and generate more than $380 million of annual revenue, Liberty executives said.

“Choice customers will benefit from the Liberty brand, which will provide them access to cutting edge technology and services on par with other markets around the world,” said Naji Khoury, president of Liberty Puerto Rico. “This will also place us in a better position to face our competition on an island-wide basis.”

Mauricio Ramos, president of Liberty Global Latin America said, “The acquisition is a renewed indication of our commitment to Puerto Rico. Our investments since our last acquisition in Puerto Rico have clearly benefited the public, particularly in data speed performance.”

“If the transaction is approved by applicable regulatory agencies and completed, Choice customers will be able to enjoy Liberty Puerto Rico’s product offerings, which include Internet speeds of up to 100 Mbps to download and 4Mbps to upload, [more than] 100 High Definition channels, up to 300 digital channels, an attractive balance of English and Spanish-language programming, plus video, Internet and telephony bundles at competitive prices,” he said.

This transaction is subject to customary closing conditions, including regulatory approvals, including obtaining franchise rights from the Puerto Rico Telecommunications Regulatory Board.

In the meantime, both companies will operate independently. Once the transaction is completed, the new combined business will operate as Liberty Puerto Rico and will launch an educational campaign for Choice customers to keep them informed of the integration process.

If consummated, Liberty would compete head-on with Claro’s IPTV service, and satellite service providers Dish Network and DirecTV.

Milestone Communications Inc. Activities 2013

Press Release

December 31, 2013

Castle Pines, CO – Milestone Communications, Inc., a leading brokerage firm serving the cable telecommunications industry, served as advisor to Full Choice Communications, Inc. in the sale of its cable television systems serving approximately 350 RGU’s in Boswell, Indiana and Bismark, Illinois to Benton County Cable, Inc., Inc.  Michael W. Drake of Milestone Communications represented Full Choice Communications, Inc. in the transaction.

Press Release

July 31, 2013

Castle Pines, CO – Milestone Communications, Inc., a leading brokerage firm serving the cable telecommunications industry, served as advisor to Baja Broadband Operating Company, LLC in the sale of its cable television systems serving approximately 2,500 EBU’s in Espanola, Chama, Dixon and Penasco, New Mexico and Springfield and Las Animas, Colorado to Satview Broadband, Inc.  Michael W. Drake of Milestone Communications represented Baja Broadband Operating Company, LLC in the transaction.

Press Release

May 1, 2013

Castle Pines, CO – Milestone Communications, Inc., a leading brokerage firm serving the cable telecommunications industry, served as advisor to Princetown Cable Co., Inc. in the sale of its cable television system serving approximately 1,050 RGU’s in the Towns of Princetown, Duanesburg and Rotterdam, New York to Time Warner Cable Northeast, LLC.  Michael W. Drake of Milestone Communications represented Princetown Cable Co., Inc. in the transaction.

Press Release

March 15, 2013

Castle Pines, CO – Milestone Communications, Inc., a leading brokerage firm serving the cable telecommunications industry, served as advisor to Baja Broadband Operating Company, LLC in the sale of its cable television systems serving approximately 1500 EBU’s in West Odessa, Iraan, McCarney, Rankin, Sanderson and Van Horn, Texas to RB3 LLC. Michael W. Drake of Milestone Communications represented Baja Broadband Operating Company, LLC in the transaction.

Press Release

February 1, 2013

Castle Pines, CO – Milestone Communications, Inc., a leading brokerage firm serving the cable telecommunications industry, served as advisor to Full Choice Communications, Inc. in their sale and exchange with Telecommunications Management, LLC (dba New Wave Communications) of the Full Choice cable television systems serving 322 EBU’s in the communities of Montezuma, Newport, Perrysville and Worthington, Indiana and the New Wave system serving 322 EBU’s in the community of Fowler, Indiana. Michael W. Drake of Milestone Communications represented Full Choice Communications, Inc. in the transaction.

KKR buys SBB for EUR1bn

Kohlberg Kravis Roberts has agreed to acquire East European cable operator SBB/Telemach in a deal valued at around EUR1 billion.

According to reports, KKR beat competition from Liberty Global and private equity rivals Providence and Cinven to buy Belgrade-based SBB/Telemach from another private equity company, Mid Europa, who acquired SBB in 2007.

Regional operator SBB/Telemach Group operates in the former Yugoslab markets of Serbia, Slovenia, Bosnia, Croatia, Montenegro and Macedonia and has around 1.7 million cable and satellite TV, broadband, fixed and mobile customers. These markets have low broadband payTV and broadband penetration with high growth potential.

“This is our first direct investment in Southern Eastern Europe. It adds to our investments in more than 40 European companies across 12 countries and it is a sign of our confidence in the prospects of SBB/Telemach Group, led by Dragan [Šolak, Founder and Executive Chairman of the SBB-Telemach Group] and his talented team, and in the region,” said KKR's co-founder and co-CEO Henry Kravis.

The transaction is subject to customary approvals and is expected to close around year-end 2013.