CHICAGO - Cloud5 Communications ("Cloud5" or "The Company") announced today that funds managed by Oaktree Capital Management, L.P. ("Oaktree"), one of its primary investors, has acquired a majority interest position in the Company. Cloud5 Communications is a leading provider of communications solutions for the world's top hotel brands and management companies. In this transaction, Oaktree recapitalized the Company and invested additional growth capital to support its continued expansion. Oaktree is majority owned by Brookfield Asset Management Inc., who together have over $500 billion of assets under management. Cloud5 President & CEO Mark Holzberg will continue to lead the Company and serve on its new Board of Directors. "Throughout our relationship, we have been very impressed by the evolution and growth of Cloud5," said Michael Shannon, Senior Vice President at Oaktree. "With Mark's leadership and the impressive team he has built, Cloud5 has resulted in terrific growth and standing within the hospitality industry. We are very bullish on the Company and excited to be investing additional capital to support its continued growth." Michael Shannon joined Cloud5's Board as part of the transaction." "We have a long history with Oaktree, and we are enthusiastic about its higher level of partnership and investment to accelerate the growth potential of Cloud5," says Mark Holzberg, President & CEO, Cloud5 Communications. "Cloud5 is well positioned to further expand its ability to deliver superior communications solutions to the hospitality industry and enhance guest experiences throughout this next stage of advancement." About Oaktree Cloud5 is the leading IT and communications solutions and services provider for customer-centric brands across the Americas. The company's fast, reliable Internet solutions and flexible voice systems enhance the guest experience at more than 5,000 hotels across the United States, Canada and CALA. Cloud5's award-winning Contact Center combines innovation with skilled agents to deliver white label hotel reservations, sales, guest relations and service that add value across any channel. The company's comprehensive Managed Services support all the technology-related components of a successful hotel operation and act as an extension of a property's IT department. For more information visit cloud5.com or call 877.241.2516.
Oaktree is a global alternative asset manager with a diversified mix of opportunistic, value-oriented and risk-controlled investments across credit and other investment offerings. In 2019, Brookfield acquired a majority interest in Oaktree, and it continues to operate as a standalone business. The two firms share fundamental values and an approach to investing that is long-term, value-driven and contrarian, with a focus on the downside protection of capital. Together, Brookfield and Oaktree have over $500 billion of assets under management and provide investors with one of the most comprehensive offerings of alternative investment products available today. For additional information, please visit Oaktree's website at http://www.oaktreecapital.com/.
Contact
Katrina Pruitt-Andrews
Vice President, Marketing - Cloud5 Communications
Phone: +1 312 985 0653
Mobile: +1 301 704 4087
Email: katrina.andrews@Cloud5.com
Organization
Cloud5 Communications
https://cloud5.com/
820 W. Jackson Blvd.
USA
- Chicago, IL 60607
Phone: 877.241.2516
Email: info@cloud5.com
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