International satellite broadband provider Speedcast has announced that it has successfully completed its restructuring process and emerged from Chapter 11 bankruptcy proceedings. The company now operates under the ownership of US private equity firm Centerbridge Partners, following the latter’s USD500 million equity investment in the company. Speedcast now has a clean balance sheet with no secured debt and a healthy cash balance.
TeleGeography notes that Speedcast has more than 20 years as a VSAT provider and currently serves more than 3,200 customers in over 140 countries with its network of more than 95 satellites and 35 teleports.