Harmoni Towers has agreed to acquire Parallel Infrastructure, a tower platform and build-to-suit provider. The transaction creates one of the top ten largest private independent tower companies in the U.S., with more than 2,000 built and in-construction towers. Terms of the transaction were not disclosed.
Palistar Capital LP, which backs Harmoni, expects to provide ample growth financing into the combined platform, according to Omar Jaffrey, Managing Partner and Founder of Palistar. The combined company will have locations spanning the country across 41 states, with the capacity to build hundreds of towers per year in all regions of the U.S.
"Palistar expects, over time, to deploy in excess of $1 billion via equity and debt financing into the combined platform in order to promote the expansion of the business,” Jaffrey said. Continue Reading |
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