GTT Communications, Inc. (NYSE: GTT), the global cloud networking provider to multinational clients, has announced that a group of investors, led by Aleph Capital Partners LLP and Crestview Partners, has committed to invest USD 175 million in GTT common stock at the closing of the acquisition of Interoute by GTT, , the company said.
Aleph and Crestview are significant shareholders of Interoute, and they will invest a portion of their proceeds from the sale of Interoute into the combined company. Per the terms of GTT´s debt financing commitment for the Interoute acquisition, this equity commitment will reduce the amount of debt to be issued by GTT to fund the acquisition on a dollar-for-dollar basis.
GTT provides multinationals with a better way to reach the cloud through its suite of cloud networking services, including wide area networking, Internet, optical transport, managed services, voice and video services. The company´s Tier 1 IP network, ranked in the top five worldwide, connects clients to any location in the world and any application in the cloud. GTT delivers an outstanding client experience by living its core values of simplicity, speed and agility. For more information on how GTT is redefining global communications, visit www.gtt.net.
Aleph Capital Partners LLP is an independent investment firm based in London. Aleph works closely with management teams, shareholders and other stakeholders to support long-term enterprise value growth. Its approach to capital commitment and governance is adapted to the specific situation of each company it invests in.
Founded in 2004, Crestview Partners is a value-oriented private equity firm focused on the middle market. The firm is based in New York and manages funds with over USD 7 billion of aggregate capital commitments. The firm is led by a group of partners who have complementary experience and distinguished backgrounds in private equity, finance, operations and management.