Cerberus Capital Management’s Acquisition of SubCom

Kirkland & Ellis LLP is acting as legal advisor to Cerberus. Goldman Sachs, Barclays, Credit Suisse, and Jefferies are acting as financial advisors to Cerberus and providing committed financing for the transaction.

Cerberus Capital Management has entered into an agreement with TE Connectivity Ltd under which Cerberus will acquire TE’s Subsea Communications business .

Headquartered in Eatontown, New Jersey, SubCom is a leading global supplier of subsea communications systems with approximately $700 million in revenue, based on fiscal year 2018 expectations. The business designs, manufactures, deploys, and maintains the subsea fiber optic cable systems that are vital for global communications. To date, SubCom has completed more than 100 cable systems and deployed over 610,000 kilometers of cable through its eight high-performance cable ships, which are among the most efficient and capable in the industry. SubCom, supported by approximately 1,400 employees, has a strong customer base of leading internet content providers, telecommunications companies, and entrepreneurs around the world.

The Kirkland team was led by corporate partners Douglas Ryder (Picture) and Michael Sartor and associate Christopher Bourne; debt finance partners Jay Ptashek and Suhan Shim; IP technology and transactions partner Adam Petravicius; and tax partner Sara Zablotney.

Involved fees earner: Douglas Ryder – Kirkland & Ellis; Michael Sartor – Kirkland & Ellis; Christopher Bourne – Kirkland & Ellis; Jay Ptashek – Kirkland & Ellis; Suhan Shim – Kirkland & Ellis; Adam Petravicius – Kirkland & Ellis; Sara Zablotney – Kirkland & Ellis;

Law Firms: Kirkland & Ellis;

Clients: Cerberus;

Author: Ambrogio Visconti