Northgate Capital, the global private equity fund manager, has acquired a majority stake in Elara Comunicaciones, S.A.P.I. de C.V. through a transaction in which Northgate will invest up to US$38 million in both primary and secondary transactions.
Elara is the leading teleport telecommunications company in Mexico and Latin America providing its clients mission critical satellite connectivity. The Company’s solutions allow its clients to send and receive voice, bulk data, and provides Wi-Fi and cellular connectivity through satellite access in regions where traditional terrestrial telecommunications is neither accessible nor feasible. The Company’s target segments include fixed line and mobile carriers, government and diverse industries such as the oil & gas industry.
Northgate’s investment in the company will be used to further develop Elara’s product portfolio and execute its expansion plan. Several initiatives are currently underway to grow the firms’ operations in Mexico and in Latin America.
Match Point Partners acted as Elara’s exclusive financial advisor