Global private investment firm KKR has agreed to commit $400m to a tailored financing solution for OMS Group, a telecommunications infrastructure company and provider of subsea cable services including installation and maintenance projects.
This marks KKR’s latest digital infrastructure investment in Southeast Asia’s internet economy.
Founded in 1988, OMS Group is a neutral provider of integrated solutions for subsea telecommunications cable services. The company has a more-than-three-decades track record of providing services to clients including major subsea equipment providers, large-scale cloud service providers, and telecom companies. OMS Group is one of the largest independent operators in this sector, with a diverse fleet including cable ships and cable barges, as well as cable landing stations serving the global telecommunications market.
KKR’s investment will allow PMS Group to accelerate its growth, including through expanding its fleet size and capabilities and investing in cable landing stations and subsea cable routes to serve global cross-border data transmission trends and the demand for comprehensive subsea cable services.
KKR is making the investment primarily from its Asia infrastructure strategy. The company’s past investments in Southeast Asia digital infrastructure have included the regional data centre platform of Singtel, an Asian communications technology group headquartered in Singapore, and Pinnacle Towers, a digital infrastructure platform in Asia with a strong focus on the Philippines.
Additional details of the transaction, which is expected to be completed by Q1 of 2024, have not been disclosed.
