Infrastructure fund manager CVC DIF has teamed up with Channel Islands telecom infrastructure provider Jersey Telecom (JT) to acquire Manx Telecom.
The two firms have partnered to acquire the Isle of Man’s telecommunications provider from funds managed by Basalt Infrastructure Partners for an unspecified sum.
CVC DIF said it is investing through the DIF Infrastructure VIII fund, but did not disclose financial details.
Founded in 1987 and headquartered in the Isle of Man, Manx Telecom provides broadband, fixed line, mobile and secure data services to residential, business and public-sector customers.
Tom Goossens, partner and co-head of the DIF infrastructure fund strategy at CVC DIF, said: “Our investment in Manx Telecom reflects our conviction in the long-term value of resilient, locally rooted digital infrastructure. As the Isle of Man’s incumbent operator, Manx offers a strong platform for innovation and growth, and we are excited to support its next phase of development.
“The partnership with Jersey Telecom further builds on this foundation, enabling us to scale operational capabilities across the Crown Dependencies and beyond. Together, we aim to accelerate investment in next-generation networks and deliver enhanced connectivity and enterprise services to customers.”
Daragh McDermott, CEO of JT Group, said: “This marks a major step forward for JT Group. With the local expertise of Manx Telecom and the deep sector experience of CVC DIF, we are building a scalable and powerful platform for innovation and international expansion – one that combines local expertise with global ambition to better serve our customers across the Crown Dependencies and beyond.”
Gary Lamb, CEO of Manx Telecom Group, said: “We have always been proud to serve the Isle of Man, and this partnership marks an exciting new chapter with Jersey Telecom sharing our core values and long-term vision.
“With their support and CVC DIF’s experience and track record in the telecoms sector, we are in a strong position to accelerate innovation and continue delivering the high-quality service our customers expect.”
John Hanna, managing partner at Basalt, said: “It has been a great experience to support the growth of Manx Telecom since our acquisition in 2019. Today, Manx Telecom is well positioned for the future with a near fully deployed fibre network on the Isle of Man. We are excited to see the company’s next phase of development in partnership with CVC DIF and Jersey Telecom.”
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