– Cerberus Capital Management, L.P. (“Cerberus”) announced the closing of a single-asset continuation vehicle for Subsea Communications (“SubCom”), a leading global subsea fiber optic cable systems provider.
– The continuation vehicle raised approximately $2.3 billion in commitments and was led by CVC Secondary Partners (“CVC SP”).
– Cerberus-managed funds, including its Supply Chain strategy funds, made an additional investment in SubCom and will continue to hold a controlling stake in the company.
– The transaction extends Cerberus’ long-term partnership with SubCom and supports the company’s continued expansion amid rising demand for subsea connectivity infrastructure.
– Cerberus carved out SubCom from TE Connectivity in 2018, since which the company has strengthened its market leadership and achieved significant growth.
– SubCom is the only U.S.-based provider of subsea cable systems and operates a vertically integrated platform covering engineering, planning, manufacturing, marine installation, and maintenance.
– Michael Sanford (Cerberus Global Head of Private Equity and Co-Head of Supply Chain) said SubCom plays a mission-critical role in global connectivity infrastructure and highlighted its differentiated platform and strong growth under CEO David Coughlan.
– Patrick Moriarty (Cerberus Supply Chain Managing Director) emphasized SubCom’s leadership as the only U.S.-headquartered subsea cable systems provider and noted continued strong growth opportunities and a focus on supply chain resilience and security.
– Dave Coughlan (CEO of SubCom) said demand for subsea connectivity has never been greater and that the company will continue investing in its platform to scale globally while maintaining quality and reliability.
– Rikesh Mohandoss (Partner at CVC Secondary Partners) described SubCom as a mission-critical digital infrastructure asset, highlighting strong market leadership and long-term growth tailwinds, and expressed support for its next phase of expansion alongside Cerberus and management.
