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ThereAbouts

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06/03/18

09:57

Post #: 31549282
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Originally posted by Westwind ↑

Hi ThereAbouts

I note AFR indicated that TA Investments owned all of SDA in the first instance and were the company that floated it in 2014. Throws a slightly different light on the TA transaction - a Private Equity company that bought, beefed it up with a few add-ons, ran it for a couple of years, floated most of it, kept 10-15% for a few years. then sold out completely. A fairly typical PE exit strategy. Recycled their money and moving on to their next project. At least SDA turned out to be one of the better PE exercises and has some longer term viability.

From Wikipedia:
Speedcast was founded in September 1999. (Speedcast Ltd., 2010) AsiaSat became a primary shareholder in Speedcast in March 2000. In November 2007, AsiaSat purchased all outstanding shares to become 100% owner of Speedcast.^[1] Speedcast launched a diversity of satellite telecommunications service to customers over the course of the past 13 years.^[2]
TA Associates, a leading global growth private equity firm, completed a buyout of Speedcast Ltd, from (“AsiaSat”) in September 2012.^[3]
Since that time, Speedcast has completed the buyout of three satellite communications companies: Australian Satellite Communications ("ASC") based in South Australia in December 2012; Elektrikom Satellite Service ("Elektrikom") based in The Netherlands in January 2013; and Pactel International ("Pactel") based in Australia in April 2013. These group of companies have formed the new Speedcast Group.
In June 2014, Speedcast announced the acquisition of Oceanic Broadband an Australian integrator and solutions provider.^[4] [[File:Speedcast Logo.gif

Speedcast logo
|thumb]] In August 2014, Speedcast listed on the Australian Stock Exchange under the ticker SDA

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CEO Pierre-Jean Beylier seems to have been responsible for a lot of their success, so hopefully he'll be hanging around for a while yet.

Yeah, sometimes PE do the right thing, the car parts mob, whose name escapes me at the moment, is another. Been a lot of duds too.

SDA Price at posting: $5.42 Sentiment: Buy Disclosure: Held
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Huge Volume, page-16

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