Investment firm Stonepeak is investing up to $200m (€183m) in TeleGuam Holdings (GTA), a digital infrastructure provider in Guam.
The “strategic growth investment” will be structured as primary capital and Huntsman Family Investments and its affiliates (HFI) will continue to be the majority owner of GTA and operate the asset, the companies said.
As part of this deal, Benjamin Wu, partner at HFI, will assume the role of CEO of Forager Holdings, the parent company of GTA.
GTA provides broadband, wireless, data centre, and subsea cable landing services.
Stonepeak’s investment will enable GTA to strengthen its presence throughout Guam through the development of additional data centres and the accelerated buildout of its fibre network to provide island-wide fibre-to-the-home service.
Paul Huntsman, chairman of GTA and president & CEO of Huntsman Family Investments, said: “When we acquired GTA in 2017, we backed a visionary management team, led by Roland Certeza and Joseph Shinohara, to develop the digital ecosystem on Guam.
“Despite the challenges of COVID and Typhoon Mawar, our GTA team has been steadfast in working towards that goal. Today, we are honored to partner with a world class investor, Stonepeak, for the next stage of GTA’s growth and we are looking forward to leveraging their expertise.”
Andrew Thomas, senior managing director at Stonepeak, said: “Given Guam’s increasing importance as a strategic hub for transpacific subsea cables, we believe there will be strong demand for additional landing stations and colocation capacity in the years to come.
“In our view, GTA is well positioned to meet that demand with its platform of landing stations and data centre facilities spanning the island, interconnected through a dense fibre network. We look forward to partnering with HFI and the GTA management team to continue to grow the company.”
“With this investment, we intend to fortify our fibre network, accelerate our data centre development and expand our regional presence to ensure that our customers can rely on us for responsive service. We believe that with the support of Stonepeak, we will develop Guam as a preferred gateway between the US and our allies in Asia, leading to stronger economic and geopolitical ties,” said Wu.
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