Global private equity firm The Carlyle Group today acquired Kingston Inmedia, the satellite service provider from Kingston Communications (Hull) plc, the UK alternative carrier, in an all-cash deal of £34 million. Kingston Inmedia delivers enterprise, broadcast and internet solutions to business customers using satellite-based technologies. 2003 revenues were £33.4 million with EBITDA of £5.7 million. Kingston Inmedia has 165 employees.
Kingston Inmedia is led by an excellent and committed management supported by a high quality asset base, strong customer service and a competitive offering. We believe the company will flourish as a private company and we look forward to working with the team, said Bruno Mourgue d’Algue, Associate Director, The Carlyle Group.
Nick Thompson, CEO of Kingston Inmedia, commented, This is a great opportunity for Kingston Inmedia. Carlyles significant international interests will enable us to capitalise on a number of expansion opportunities that were too divergent for our previous owner. With the strong support of Carlyle we hope to grow the company significantly over the next years.
Malcolm Fallen, CEO of Kingston Communications said, I am confident that Kingston Inmedia will thrive under its new ownership and wish the dedicated, talented team who work in the business every success for the future.
The company will continue to trade under the name of Kingston Inmedia in the immediate future.