Oaktree invests in telecom giant
Oaktree Capital Management’s Power Opportunities strategy made an undisclosed investment in ITG Communications.
Based in the Nashville suburb of Hendersonville, ITG was launched in 2013 and quickly grew into one of the largest providers of outsourced services to broadband operators and electric cooperatives in the U.S., with nearly 4,000 employees in over 75 markets. ITG’s services include subscriber installations, upgrades, and service calls, and broadband infrastructure implementation, expansion, and maintenance.
Oaktree’s investment will help support ITG’s continued growth. The company’s founding management team, led by Executive Chairman Peter Giacalone, CEO Michael Brooks and President Chris Perkins, will retain their current roles and remain significant investors in the company.
“ITG is a recognized industry leader, serving the growing critical infrastructure end-market,” said Jimmy Lee, managing director at Oaktree. “We are excited to partner with Peter, Michael, Chris, and their talented team, and look forward to building on the strong foundation they’ve developed by leveraging Oaktree’s resources and relationships.”
Oaktree’s Power Opportunities strategy has originated and financed over 70 transactions in the energy and power sectors valued at more than $3 billion in equity capital.
