Andean Tower Partners (ATP) has acquired South American towerco Torres Unidas from investment firm Berkshire Partners. The deal means ATP gains 1,644 additional sites for its portfolio, for a total of more than 2,150 sites.
The deal makes ATP the largest privately-owned tower company in the Andean Region, it says in the announcement. Financial details were not disclosed.
Founded by Digital Bridge in 2015, ATP also manages more than 32,000 master leased sites and 13 small cell networks deployments. ATP Chairman and Founder/CEO of Digital Bridge Holdings Marc Ganzi says the deal is substantial for several reasons. “We see a significant tower deficit in the Andean Region, and this acquisition will enhance ATP’s ability to meet an increasing need for telecom infrastructure as our wireless carrier partners continue to densify their networks to keep up with anticipated data consumption in the region.”
Daniel Seiner, CEO of Torres Unidas, will be CEO of the combined company, which now offers 34,150 wireless locations in Chile, Colombia and Peru. Estrella Zaharia will continue with her responsibilities as chief marketing officer. The combined portfolio will give Andean Tower Partners an enhanced footprint, and “we are eager to continue to help operators densify their 4G networks and bring the dream of 5G to life in our region,” said Seiner.
Equity financing for the transaction was provided by ISA, The Olayan Group, Equity International, and TC Latin America Partners, who collectively committed $230 million earlier this year, and followed with additional commitments to support the acquisition. In addition to the existing investor group, Colony NorthStar also committed to the deal in partnership with Digital Bridge Holdings.
December 20, 2017