Huntsman Family Investments (HFI) of Salt Lake City has announced its acquisition of GTA TeleGuam (GTA), a major provider of telecommunications services in Guam, from funds serviced by Advantage Partners, a Japanese private equity firm. The transaction is subject to federal and Guam regulatory approvals and is expected to close later this year.
GTA provides wireless, high-speed Internet, Internet protocol television and fixed voice services in Guam and is a part of a consortium of U.S. and Asian telecommunications companies that are constructing SEA-US, a new submarine cable system to connect Southeast Asia and the United States via Guam.
“This transaction represents our first investment in Guam and we are excited to be associated with the premier provider of telecommunications services on the island. We are committed to ensuring our customers have the highest-quality experience,” said Paul Huntsman, president and CEO of Huntsman. “In keeping with our family’s commitment to the communities in which we operate, we hope this investment leads to more opportunities to invest back into the Guam community.”
Huntsman said GTA will continue to be locally managed and operated.
“Advantage Partners has been an exceptional partner over the last five years, by providing GTA with the necessary resources to transform into a full communications service provider and greatly enhancing our high-speed wireless and in home Internet and TV experience for our customers,” said Robert Haulbrook, GTA president and CEO. “I am pleased that Advantage Partners has identified Huntsman Family Investments as the right new investor for GTA. HFI will enable our company to continue the development of the business to better serve the needs of our growing consumer, enterprise and government customer base.”
Huntsman Family Investments recently acquired American Pacific Corp., which supplies rocket-grade ammonium perchlorate used in rockets and missiles by the Department of Defense and NASA. Paul Huntsman also recently acquired the Salt Lake Tribune newspaper.
Huntsman Family Investments is the private investment platform for the Jon M. Huntsman Sr. family that seeks to make direct, long-term investments in diversified industries around the globe.