M&A Deal Summary

American Tower Acquires Eaton Towers

On May 30, 2019, American Tower acquired communications company Eaton Towers from Ethos Private Equity for 1.9B USD

Acquisition Highlights
  • This is American Tower’s 11th transaction in the Communications sector.
  • This is American Tower’s 5th largest (disclosed) transaction.
  • This is American Tower’s 1st transaction in the United Kingdom.

M&A Deal Summary

Date 2019-05-30
Target Eaton Towers
Sector Communications
Buyer(s) American Tower
Sellers(s) Ethos Private Equity
Deal Type Add-on Acquisition
Deal Value 1.9B USD

Target

Eaton Towers

London, United Kingdom
website
Eaton Towers is a high-growth pan-African telecom tower management company that provides the shared site and tower services for telecom network operators by acquiring, building, and maintaining passive telecommunications infrastructure assets. Eaton Towers was founded in 2008 and is based in London, United Kingdom.

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Buyer(S) 1

Buyer

American Tower

Boston, Massachusetts, United States

website


Category Company
Founded 1995
Sector Real Estate
Employees5,618
Revenue 8.0B USD (2020)
DESCRIPTION

American Tower is a independent owner, operator and developer of wireless and broadcast communication real estate. The Company's global portfolio includes over 99,000 owned or managed sites and is experiencing steady growth. In addition to leasing space on towers, American Tower provides customized collocation solutions through our in-building systems, outdoor distributed antenna systems and other right-of-way options, managed rooftops and services that speed network deployment. American Tower was founded in 1995 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 12 of 15
Sector (Communications) 11 of 12
Type (Add-on Acquisition) 9 of 12
Country (United Kingdom) 1 of 1
Year (2019) 1 of 1
Size (of disclosed) 5 of 8
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-12-05 Municipal Communications

Atlanta, Georgia, United States

Municipal Communications develops, owns, and operates cellular towers in the southeastern United States. The company partners with local municipalities to develop towers in difficult-to-zone locations. Municipal Communications was founded in 2010 and is based in Atlanta, Georgia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-05 InSite Wireless Group

Alexandria, Virginia, United States

InSite Wireless Group LLC develops, owns, operates, and manages communications wireless infrastructure facilities primarily for the wireless and broadcast industries. InSite’s tower division is one of the largest privately-owned U.S. tower companies and develops, manages, owns, and operates approximately 1,500 telecommunications towers and sites for wireless carriers across the United States, Puerto Rico, the U.S. Virgin Islands, Canada, and Australia. InSite’s distributed antenna system (DAS) and small cell division specializes in the design, installation, operation, and maintenance of shared wireless infrastructure solutions that enhance the quality and capacity of wireless voice and data services in public facilities and complex environments. InSite Wireless Group was founded in 2000 and is based in Alexandria, Virginia.

Buy $3.5B

Seller(S) 1

SELLER

Ethos Private Equity

Illovo, South Africa

Investor Investor Investor Investor Investor

website


Category Private Equity Firm
Founded 1984
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Ethos Private Equity is a private equity investor that targets opportunities in South Africa. Ethos looks for stable businesses valued between $15 and $100 million US. Target transactions include divestitures of non-core assets, sector consolidations, development of family owned businesses, growth financings, and turnarounds. Ethos was formed in 1984 and is based in Johannesburg, South Africa.


DEAL STATS #
Overall 23 of 24
Sector (Communications) 2 of 3
Type (Add-on Acquisition) 12 of 12
Country (United Kingdom) 1 of 2
Year (2019) 1 of 1
Size (of disclosed) 1 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2018-11-06 Vertice MedTech

Pretoria, South Africa

Vertice MedTech is a provider of high-quality, state-of-the-art surgical products and instruments, personalized service, and comprehensive technical support to the Southern African Healthcare sector. Vertice MedTech was founded in 2018 and is based in Pretoria, South Africa.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2019-06-10 TymeBank

Johannesburg, South Africa

TymeBank is a provider of banking and financial services. TymeBank has positioned itself as the leading low-cost transactional bank to the mass market segment. Consumers in this segment are traditionally under-served as well as under-serviced. TymeBank was founded in 2012 and is based in Johannesburg, South Africa.

Buy -