IHS Towers, the operating entity of London-based IHS Holding Limited (NYSE: IHS), has agreed to sell 100 percent of IHS Rwanda including its approximately 1,465 towers to Paradigm Tower Ventures. The terms of the transaction reflect an enterprise value of $274.5 million, implying a transaction multiple of 8.3x adjusted EBITDA after leases. The transaction is subject to customary closing conditions, including government and regulatory approvals, and is expected to close in the second half of 2025.
At the end of 1Q25, IHS Towers reported a portfolio of 39,212 towers across eight countries in Africa and Latin America. Paradigm Tower Ventures is a telecom infrastructure company based in London. It was established as a subsidiary of Paradigm Infrastructure, a firm specializing in the development and operation of shared communications infrastructure across Sub-Saharan Africa.
“Rwanda represents an exciting market with high demand for shared wireless infrastructure,” comments Stephen Harris, Co-founder, Paradigm Tower Ventures. “The Paradigm team is very much looking forward to building a strong customer focused business providing high quality and secure infrastructure to mobile network operators.”
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