ITG Communications Announces Significant Investment from Oaktree
Hendersonville, TN – December 30, 2021 – ITG Communications, LLC (“ITG”), a national provider of installation, fulfillment, construction and project management services to the cable, telecommunications and utility industries, announced that it has received an investment from funds managed by Oaktree Capital Management, L.P. (“Oaktree”). Oaktree’s investment will help support the continued growth of the company. Terms of the investment were not disclosed.
Founded in 2013, ITG has quickly grown into one of the largest providers of outsourced services to broadband operators and electric cooperatives, with nearly 4,000 employees in over 75 markets across the U.S. ITG’s services include subscriber installations, upgrades, and service calls, and broadband infrastructure implementation, expansion, and maintenance.
ITG’s founding management team, led by Executive Chairman Peter Giacalone, Chief Executive Officer Michael Brooks, and President Chris Perkins, will continue in their current roles and remain significant investors in the company.
Mr. Brooks remarked, “Our partnership with Oaktree will further strengthen ITG’s market position as we remain focused on providing our customers with the highest quality services to support the operation, performance, and improvement of their network infrastructure.”
Mr. Giacalone added, “We are thrilled to be joining forces with Oaktree. Together, we will drive new chapters of organic and acquisitive growth for the benefit of ITG’s customers, talented employees, and other stakeholders.”
“ITG is a recognized industry leader, serving the growing critical infrastructure end-market,” said Jimmy Lee, Managing Director in Oaktree’s Power Opportunities Group. “We are excited to partner with Peter, Michael, Chris, and their talented team, and look forward to building on the strong foundation they’ve developed by leveraging Oaktree’s resources and relationships.”
About ITG Communications
ITG is a national provider of fulfillment, construction and project management services to the cable, telecommunications and utility industries. The company manages outsourced operational activities nationwide, including subscriber installations, upgrades, service calls, dispatch, warehousing and outside plant and network construction and maintenance projects. ITG’s comprehensive business intelligence tools provide real time access to its workforce activities and drive its ability to consistently meet or exceed its customer’s service level requirements. For additional information, please visit ITG’s website at www.I-T-G.net.
About Oaktree
Oaktree is a leading global investment manager specializing in alternative investments, with over $158 billion in assets under management as of September 30, 2021. The firm emphasizes an opportunistic, value-oriented and risk-controlled approach to investments in credit, private equity, real assets and listed equities. Headquartered in Los Angeles, the firm has over 1,000 employees and offices in 19 cities worldwide. For additional information, please visit Oaktree’s website at www.oaktreecapital.com.