KKR and the parent company of OMS Group, a telecommunications infrastructure company and provider of subsea cable services, signed definitive agreements under which KKR will commit $400 million in a tailored solution for OMS Group. This marks KKR’s latest digital infrastructure investment in Southeast Asia, underlining its conviction in the role digitalization plays in the region’s burgeoning internet economy.
Founded in 1988, OMS Group is a neutral provider of integrated solutions for subsea telecommunications cable services, including installation and maintenance projects.
KKR’s investment positions OMS Group well 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 fast-growing cross-border data transmission trends and the demand for comprehensive subsea cable services.
“OMS Group has established itself as a market leader with a longstanding track record of success and growth in Southeast Asia,” Projesh Banerjea, director of infrastructure at KKR, said. “As demand for greater connectivity across the region continues to grow, we are delighted to work closely with Datuk Lim, Ronnie Lim and the highly-rated OMS Group team to meet this critical need. Our tailored solution for OMS Group also creates strong adjacencies with KKR’s recent digital infrastructure investments and builds on long-term secular tailwinds in the region, including increased data consumption, enterprise cloud needs, a focus on digitalization by governments and a booming digital economy. We look forward to sharing our global network and infrastructure expertise to take OMS Group to its next stage of growth.”
“OMS Group and KKR share the same vision and appreciation of the critical data infrastructure OMS Group builds and maintain for its clients,” Datuk Soon Foo Lim, chairman of OMS Group, said. “We look forward to working with Mr. David Luboff, Mr. Projesh Banerjea and the world-class KKR team in advancing OMS Group’s growth plans.”
“KKR’s investment in OMS Group underscores the value of OMS Group’s capabilities, which provides immense economic value to communities, corporations and countries around the world by constructing and maintaining critical subsea data infrastructure,” Ronnie Lim, group CEO of OMS Group, said. “Together with KKR’s strong track record in supporting and investing in data infrastructure assets and its platform-building expertise, OMS Group is in a stronger position to support its clients to build and maintain greater global connectivity.”
KKR is making this investment primarily from its Asia infrastructure strategy. This transaction adds to KKR’s track record of investing in digital infrastructure regionally and globally.
The transaction is expected to be completed by Q1 of 2024, subject to customary closing conditions. Additional details of the transaction are not disclosed.
