Globecomm Systems Inc. has been acquired by an investor group led by HPS Investment Partners LLC and Tennenbaum Capital Partners LLC, following its prior private ownership by Wasserstein & Co.

Information on the Target

Globecomm Systems Inc., headquartered in Hauppauge, is a satellite communications company that has been sold to a consortium of investors led by HPS Investment Partners LLC, based in Manhattan, and affiliated funds of Tennenbaum Capital Partners LLC from Santa Monica, California. The sale follows Globecomm's management under private equity firm Wasserstein & Co., which acquired the company in August 2013 for $340 million and subsequently took it private.

Since its acquisition, Globecomm has witnessed a reduction in its workforce, dropping to nearly 400 employees across 10 countries—approximately 100 fewer than during the closure of the Wasserstein acquisition in December 2013. Despite the changes in workforce, the company continues to thrive in the communications sector.

Industry Overview in the Target’s Specific Country

The satellite communications industry is critical for various sectors, including government, corporate, media, and maritime operations. In the United States, where Globecomm operates extensively, the market has show