Houlihan Lokey Advises JT Group

Houlihan Lokey is pleased to share that JT Group (JT) and CVC DIF have agreed to form a strategic partnership to acquire Manx Telecom Group (Manx Telecom), creating the largest Crown Dependencies telecom and digital infrastructure provider. The transaction is subject to regulatory approvals.

JT is a government-owned telecommunications provider headquartered in Jersey, Channel Islands. With a legacy of innovation and community service, it delivers advanced connectivity, mobile, broadband, and enterprise solutions across the Crown Dependencies and internationally. JT is committed to building resilient digital infrastructure, supporting economic growth, and enabling the future of smart technologies through strategic investment in fibre, 5G, and IoT platforms.

CVC DIF is a leading global middle-market infrastructure equity fund manager that forms the infrastructure strategy of CVC, the leading global private markets manager. Founded in 2005 and headquartered in Amsterdam, Netherlands, CVC DIF has c. €19 billion of infrastructure assets under management in energy transition, transport, utilities, and digitalisation. With more than 250 people in 12 offices, CVC DIF offers a unique market approach, combining a global presence with the benefits of strong local networks and sector-focused investment capabilities.

Manx Telecom is the leading telecommunications provider on the Isle of Man, offering fixed line, mobile, fibre broadband, and secure data services to residential, business, and public sector customers. With a strong heritage and commitment to innovation, Manx Telecom empowers global connectivity through its IoT and data hosting solutions. The company is dedicated to supporting the Isle of Man’s digital economy and maintaining its position as a centre of excellence for technology and communications.

The transaction marks a major milestone in JT’s growth strategy and will create the largest full-service telecoms provider across the Crown Dependencies, with a shared commitment to continue investing in resilient and secure, next-generation digital networks. The combined group will serve customers in the Isle of Man, Jersey, Guernsey, and, with CVC DIF’s sector expertise and capital support, JT will also scale its enterprise services across the U.K., Europe, U.S., and Asia. This transaction marks the beginning of a new chapter focused on innovation, investment, and delivering long-term value for customers, communities, and partners.

Daragh McDermott, CEO of JT, said, “This marks a major step forward for JT. With the local expertise of Manx Telecom and the deep sector experience of CVC DIF, we’re building a powerful platform for innovation and international expansion—one that combines local expertise with global ambition to better serve our customers in Jersey, the Isle of Man, and beyond.”

Houlihan Lokey served as the exclusive buyside and financing advisor to JT.

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