December 2017Berkshire Partners Announces Acquisition of Torres Unidas by Andean Tower Partners
Boston, Massachusetts — December 14, 2017 — Berkshire Partners, a Boston-based investment firm, announced today that Torres Unidas (“TU”), a leading independent owner and operator of communication towers in South America, was acquired by Andean Tower Partners. Daniel Seiner, CEO of TU, will be CEO of the combined company. Terms of the transaction were not disclosed.
“We are grateful for Berkshire’s support from the beginning,” said Daniel Seiner. “Berkshire’s experience in the tower and communications infrastructure sector was instrumental in building the business and establishing TU as a leading tower platform in the Andean region. We have appreciated the opportunity to partner with Berkshire to build TU over the years and we remain excited about the growth prospects for the combined business going forward.”
With more than two decades of experience investing in the wireless tower industry, Berkshire Partners formed TU in September 2012, along with founding shareholder and coinvestor Torrecom Cayman, L.P. Through a combination of strategic acquisitions and build-to-suit agreements with leading carriers, TU grew its portfolio to more than 1,500 wireless towers over the course of Berkshire’s investment. Additionally, the company achieved significant colocation activity across its portfolio, helping carriers efficiently expand their networks while reducing the need for redundant infrastructure.
“Daniel and his team established a portfolio of high-quality wireless communications infrastructure assets from the ground up throughout Chile, Colombia and Peru,” said Beth Hoffman, a Managing Director at Berkshire Partners. “We are proud of the impressive growth achieved by TU and wish the team continued success.”
PJT Partners acted as exclusive financial advisor to the sellers and Weil, Gotshal & Manges LLP provided legal counsel. Greenberg Traurig LLP provided legal counsel to the company’s management.
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Source: Business Wire
Title: Berkshire Berkshire Partners Announces Acquisition of Torres Unidas by Andean Tower Partners
Date Published: December 14, 2017
Date Accessed: December 14, 2017