Thursday 17 October, 2019

Facey Telecom merges and secures investment from Portland Equity

Chairman of Facey Telecom, P.B Scott.

Chairman of Facey Telecom, P.B Scott.

Facey Telcom has completed a merger with Oceanic Communications Limited (OCL) and received a private equity investment from Portland Private Equity (Portland), the company announced on Monday.

OCL provides logistics, procurement, distribution, electronic distribution and channel management services in several markets across Asia Pacific.

The transactions will create an integrated logistics, distribution, electronic distribution and channel management business, spanning the Caribbean, Central America and Asia Pacific and provide significant growth capital to facilitate continued expansion.

Following Portland’s investment, Facey Telecom will be owned jointly by Facey Group, Oceanic Holdings International Limited and Portland, Facey.

Commenting on the transaction, Chairman of Facey Telecom  P.B Scott said, “Facey Telecom’s merger with OCL creates a large, multi-region logistics, electronic distribution and channel management platform.”

“We are pleased to have Portland Private Equity join us as a partner as we work with our expanded leadership team to capture the many growth opportunities in front of us,” added Scott, who also serves as Chairman and CEO of the Musson Group of Companies.

Leadership changes

Facey Telecom also announced the appointment of Jason Corrigan as CEO. He previously served as the Chief Operating Officer for the Caribbean for the PBS Group.

Niall O’Brien, CEO of Facey Group, will now also assume the position of Vice Chairman of Facey Telecom, while John Edmund, previously the Finance Director of OCL, will join Facey Telecom as the Chief Financial Officer.

Jason Corrigan CEO of Facey Telecom

OCL was founded in 2007 as a joint venture between Facey Group Limited, Facey Telecom’s parent company, and OHIL. It provides services in New Zealand, Papua New Guinea, Myanmar, Tonga, Samoa, Vanuatu and Fiji.

Portland Private Equity (Portland) is a private equity fund management company currently focused on private equity growth opportunities in the Caribbean, Central America, and Colombia through its management of the AIC Caribbean Fund and its successor, Portland Caribbean Fund II.

 

 

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