Month: January 2021

airtower networks logo

Airtower Networks Secures Private Equity Funding from Lumerity Capital

Source: PR Web

Airtower Networks, “One of The Fastest Growing Companies in America” (Inc. 500) and a leading wireless infrastructure provider, announced today that it has successfully closed on a round of new funding.

The investment was made by Lumerity Capital, a private equity firm focused on investments in cloud and data infrastructure. With extensive experience within the data infrastructure ecosystem, Lumerity is well positioned to assist portfolio companies with the execution of multi-pronged growth strategies. The investment will enable Airtower Networks to further capitalize on its position as a leader in the wireless infrastructure industry.

Airtower Networks delivers a full suite of network solutions and managed services that enable wireless connectivity. The timing of this investment coincides with the increasing market demand for high-quality wireless connectivity within the vast number of buildings that require improved coverage and capacity. Airtower’s vision is to become the largest nationwide 5G provider and neutral-host operator of indoor wireless networks by delivering cutting-edge network solutions that help building owners, property developers, enterprises, and mobile network operators manage their wireless infrastructure investments while also producing an attractive ROI. With clients ranging from the largest commercial real estate developers to the most technologically advanced government organizations, Airtower consistently provides cutting-edge solutions to meet each customer’s wireless needs.

“Airtower Networks experienced a record breaking year in terms of revenue, new bookings, networks deployed, and profitability. We have enjoyed getting to know Matt Kim, David Claroni, and the Lumerity team. This incremental funding will allow us to continue to scale the business,” said Oliver Valente, Airtower’s Chief Executive Officer.

“We’re excited about the injection of investment capital and sector expertise provided by Lumerity. The additional resources will give us the capability to rapidly scale the success we’ve had providing cutting-edge wireless and smart building solutions for commercial real estate and cellular carriers,” said Manny Dureja, Founder and President, Airtower Networks.

Matt Kim of Lumerity Capital added, “The indoor wireless sector provides tremendous growth opportunities and we are excited to partner with a proven management team that is executing successfully with a highly effective approach to the market. We look forward to working with Oliver and Manny and to supporting Airtower as it accelerates growth of its core business and evaluates emerging opportunities, including edge computing.”

About Airtower Networks
Airtower Networks has become the trusted partner for building owners, property managers, enterprises, and mobile network operators in need of future-proof cost effective network solutions and managed wireless services that help enhance communication and improve their bottom lines. Airtower Networks’ total managed services for smart buildings and mobile connectivity maximize building owners’ investment by providing communications infrastructure and 5G-ready networks.

Airtower Networks designs, builds, owns, and operates next-generation cellular, private LTE, Wi-Fi, and public safety networks. Clients include owners/operators of data centers, industrial, residential, healthcare, education, office, hospitality, retail, stadiums and public venues that range in size from small to Fortune 50 enterprises including the largest commercial real estate developers in the nation and the most technologically advanced government organizations. Airtower Networks consistently provides cutting-edge solutions to meet each customer’s wireless needs. For additional information, please visit http://www.airtower.com, hello@airtower.com or call 1-877-327-1785.

About Lumerity Capital
Lumerity Capital is a private equity firm founded in 2014 focused on investments in cloud and data infrastructure. With extensive experience and deep relationships within the data infrastructure ecosystem, Lumerity works actively with its portfolio companies on the execution of their growth strategies. Lumerity’s portfolio companies include Datavail Corporation, a leading managed services provider focused on database administration and enterprise applications, Effectual Inc., a next generation public cloud managed services provider, 365 Data Centers, a provider of hybrid Infrastructure-as-a-service with network-dense data centers located in the Eastern U.S., and 59Realty, a data center real estate platform. Lumerity’s past investments include TriCore Solutions, a leading ERP managed services provider that was acquired by Rackspace. Learn more at http://www.lumerity.com.

Cordiant Capital Logo

Cordiant Capital to launch digital infrastructure investment trust

Source: InvestmentWeekUK

Cordiant Capital has targeted a £300m raise for a digital infrastructure investment trust, as it looks to “capitalise on the surging growth in data consumption and traffic”.

The investment manager will look to issue up to 300 million ordinary shares at 100p each through an initial placing and offer for subscription.

Subscription shares will be issued for nil value to IPO investors subscribing for ordinary shares on the basis of one subscription share for every eight ordinary shares subscribed.

Cordiant Digital Infrastructure will mainly invest in operating digital infrastructure assets, with a predominant focus on data centres, mobile telecommunications/broadcast towers and fibre-optic network assets, primarily located in the UK, the EEA, the United States of America and Canada, it said.

The company will seek to provide investors with a net asset value total return of at least 9% per annum alongside an initial dividend of 1p per share in the first full financial year, 2p to 3p in the second full financial year and progressively rising yearly to at least 4p in the fifth full financial year.

Chair Shonaid Jemmett-Page said the Covid-19 pandemic had “starkly highlighted… the need for substantial investment in digital infrastructure in the developed world”, adding that “the increasing digitisation across societies has the potential to have a transformative impact on the global climate and societal challenges that we face”.

Cordiant said it had identified and is evaluating a pipeline of investment opportunities worth around €1.5bn in areas such as US data centres, Scandinavian fibre and European mobile towers.

The manager noted that digital infrastructure assets exhibited a number of attractive features, including recurring long-term contracts (often with built in escalator clauses) with predictable cashflows, limited obsolescence risk and location-based barriers to entry.

It said that a number of traffic patterns and sector trends, including the adoption of 5G technology, would provide an economic tailwind that could last for more than a decade.

Cordiant Digital Infrastructure will focus on the middle-market, it added, which is an area where platforms can be acquired at attractive entry prices and the size of the platform grown through capital expenditure and bolt-on acquisitions.

The firm added that it was a sector specialist, with its digital infrastructure investment team having an average 20 years’ of experience in the digital infrastructure, communications technology and Internet sectors.

Chair of digital infrastructure at Cordiant Steven Marshall was formerly president of American Tower’s US tower division and has previously been CEO of National Grid Wireless and chair of the Wireless Infrastructure Association.

Marshall said: “The paramount need for more and enhanced digital infrastructure has become apparent to us all in recent months. However, investing in these assets requires sector expertise and knowledge.

“The Cordiant team has decades of industry and investment experience and we believe that the opportunities that we are originating are compelling.

“Cordiant Digital Infrastructure Limited will be the first dedicated digital infrastructure investment trust, providing diversified exposure to the attractive growth and income characteristics of the asset class.”

Cordiant runs infrastructure private equity and infrastructure private credit strategies through limited partnerships and managed accounts. It boasts global insurance companies, pension plans and family offices as clients.

Everest Infrastructure Partners logo

Everest Closes 2020 with Acquisition of 40 Midwest Tower Sites

Source: Everest Infrastructure Partners

Everest Infrastructure Partners acquired more than 40 tower sites located throughout the Midwest region during 2020.  Included in the acquisitions are 30 on-air macro towers located in major markets with an average tower age of less than 5 years and an average tenancy of less than 1.5 tenants per tower.  “These are new macro towers with significant capacity for additional carriers in attractive urban and suburban locations,” said Mike Mackey, President of Everest Infrastructure Partners.  “With more than a dozen completed transactions, Everest was more active in the Midwest during 2020 than ever before.”

“These recent additions to our tower portfolio offer attractive clusters around several large Midwest cities including Chicago, Indianapolis, Madison, and St. Louis,” said Chris Davis, President of US Towers for Everest.  “These sites have very few competing structures and are ideally located for carriers to expand and enhance their 4G and 5G mobile services.  We expect to continue growing our presence in the Midwest in 2021 and beyond with additional acquisitions and a new tower build program to complement our tower development efforts in New England and California”

Also included in Everest’s Midwest activities in 2020 was the acquisition of the iconic Tower Center located in Bloomington, Illinois.  The 420-foot structure located in downtown Bloomington provides infrastructure services to nearly a dozen tenants, including all major mobile operators and numerous broadcaster and public safety networks serving the region.

“2020 was a substantial year of growth for Everest,” added Mackey.  “We completed a portfolio refinancing that raised $500 million in new capital led by Peppertree Capital Management, Inc.  We closed more than 100 acquisitions during 2020 and are actively considering new opportunities both domestically and in select international markets.  We expect 2021 to deliver even greater growth for Everest as the U.S. mobile infrastructure market rapidly densifies and carriers continue to deploy new spectrum and evolve their networks for 5G technologies.”

About Everest Infrastructure Partners, Inc.

Everest Infrastructure Partners, Inc. is a privately-owned operator of Communications Infrastructure assets including wireless communications towers, rooftop locations, tower ground leases, and indoor wireless systems.  Everest provides infrastructure to all major U.S. wireless operators, and currently operates, manages, or markets more than 4,000 communications sites throughout the U.S.

About Peppertree Capital Management, Inc.

Peppertree Capital Management, Inc. is a private equity firm focused on making investments in growing communication infrastructure companies, both in the United States and internationally.  Areas of interest include towers, fiber, DAS, spectrum, small cells and real estate related to its areas of focus.  Peppertree was formed in 2004 and is currently investing out of its eighth equity fund and an evergreen debt fund.  Peppertree has more than $2 billion under management and has made more than 100 investments in communication infrastructure companies in 10 countries.