JT Group and CVC DIF have signed a definitive agreement to acquire Manx Telecom Group, the Isle of Man’s leading communications and digital infrastructure provider, subject to customary regulatory approvals. CVC DIF is the dedicated infrastructure investment strategy of global private markets manager CVC Capital Partners.
This strategic acquisition brings together two trusted operators with strong local foundations and expanding international reach. The combined group will serve customers in Jersey, Guernsey, the Isle of Man and across the globe.
The acquisition 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, including 5G, fibre, IoT platforms, and managed services to support customers’ use of those networks. The partnership with CVC DIF will bring additional capital and sector expertise to support the long-term growth of this strategic partnership.
Daragh McDermott, CEO of JT Group, said: “Alongside our strategic partner in CVC DIF, this marks a major step forward for JT and Manx Telecom. With the deep sector expertise, we’re building a powerful platform for innovation and investment – one that is rooted in supporting our local economies and communities and built to compete and grow globally. The JT and Manx Telecom teams share similar values and ambition, making the acquisition a perfect fit, and allowing us to accelerate our plans to secure further scale and growth of IoT and managed service lines of business, whilst continuing to serve our existing markets, with the same dedication and care that has become our hallmark.”
Joe Moynihan, Acting Chair of the JT Board, added:
“This is more than a transaction – it’s a bold step toward shaping the future of connectivity across the Crown Dependencies. By bringing together two strong, locally rooted and community-focused businesses, we’re creating a platform that can unlock new revenue streams, drive innovation, and reinvest in the digital infrastructure that underpins our vital economies. This partnership positions us to compete on a global stage while ensuring that the benefits flow back into our islands, supporting sustainable growth and prosperity for years to come.”
Tom Goossens, Partner and Co-Head of the DIF Infrastructure fund strategy at CVC DIF, said: “Our investment in Manx Telecom Group reflects our conviction in the long-term value of resilient, locally rooted digital infrastructure. As the Isle of Man’s incumbent operator, Manx Telecom Group offers a strong platform for innovation and growth, and we are excited to support its next phase of development. The partnership with JT Group further builds on this foundation, enabling us to scale operational capabilities across the Crown Dependencies and beyond. Together, we aim to accelerate investment in next-generation networks and deliver enhanced connectivity and enterprise services to customers.”
Elaine Millar, Minister for Treasury and Resources for the Government of Jersey, added: “JT is a strategic national asset that continues to be wholly owned by the States of Jersey. This acquisition, in partnership with a world-class infrastructure investor, strengthens JT’s position and growth plans and reinforces our commitment to digital leadership and economic resilience. We look forward to seeing this strategic partnership develop and are pleased to see JT’s ambition to secure scale and drive utilisation of the major network investments that it is making.”
With a long-term presence in Jersey, CVC – owner of CVC DIF – brings a strong local presence that reinforces the deal’s foundations and offers local institutional support.
Customers across the Crown Dependencies can look forward to broader service options and continued investment in next-generation technologies. Both JT and Manx Telecom remain committed to delivering high-quality, locally focused service while evolving to meet future needs.
Together, JT Group, Manx Telecom Group, and CVC DIF are building a stronger, more connected future for the Crown Dependencies and beyond, with a focus on economic growth and innovation. This transaction marks the beginning of a new chapter focused on innovation, investment, and delivering long-term value for customers, communities, and partners.