"It was an honor to be AIC Caribbean Fund's first investee company in the Dominican Republic. As investors, they understand the pragmatic realities of the infrastructure construction business through different business cycles and were very responsive to the needs of Moya. We look forward to partnering again with ACF in the near future."
Cable & Wireless to acquire AIC Caribbean Fund portfolio Company Columbus Networks for USD$3.1 Billion
Barbados
November 1, 2014
LONDON— Portland Private Equity is pleased to announce that Cable & Wireless Communications, Plc has announced a $1.85 billion acquisition of Columbus International Inc. as part of the telecommunication firm’s plan to enhance growth in its operating regions. In addition, Cable & Wireless will assume Columbus’ existing net debt as part of the acquisition, which was $1.17 billion as at June 30.
Columbus is a privately-owned diversified telecommunications and technology services company, with 700,000 residential customers in the Caribbean, Central America and the Andean region. Portland Private Equity co-founded the business and it is an AIC Caribbean Fund portfolio company.
Contact:
For more information visit www.portlandpe.com or contact Douglas Hewson at dhewson@portlandpe.com.
About Portland Private Equity:
Based in Barbados, Portland Private Equity is a private equity fund management company currently focused on opportunities in the Caribbean region through its management of the AIC Caribbean Fund (ACF). Building on Portland’s track record of successful investments throughout the Caribbean region, ACF is a ~$230M fund focused on medium-sized businesses. Companies in Portland’s portfolio do business in over 20 countries throughout the Caribbean, Central America, and Latin America.