In line with previous reports, Globalive Capital, the investment company owned by WIND Mobile CEO Anthony Lacavera, announced today that it has acquired all of VimpelCom’s direct and indirect debt and equity interests in the fourth-largest wireless player in Canada, for an undisclosed amount.
The announcement also confirmed that Globalive has managed to seal the deal by partnering up with a consortium of investors including West Face Capital, Tennenbaum Capital Partners, LG Capital Investors, Serruya Private Equity, and Novus Wireless Communications.
Wind Mobile has emerged as Canada’s fourth-biggest wireless player, as it has 750,000 subscribers and counting. Earlier this year, when Lacavera announced the company’s earnings, he emphasized Wind Mobile’s need for more spectrum in order to grow to profitability.
“With stable, long-term ownership and secure financing, WIND Mobile is moving into an exciting new phase,” said Mr. Lacavera. “WIND Mobile is now poised to continue to bring True Mobile Freedom to Canadians for many years to come.”
“The federal government’s delivery on its promise to create the conditions for viable long-term wireless competition has not gone unnoticed by the investment community,” said Greg Boland, President and Chief Executive Officer of West Face Capital. “We and our partners are pleased to invest in this transaction and we are excited by the future of WIND Mobile.”
The deal is subject to regulatory approval, but we don’t foresee any obstacles, since the deal isn’t one of the incumbents’ acquisitions.