M&A Deal Summary

Crown Castle Acquires NewPath Networks

On September 8, 2010, Crown Castle acquired communications company NewPath Networks from Meritage Funds, Charterhouse Strategic Partners and Sweetwater Capital Group for 115M USD

Acquisition Highlights
  • This is Crown Castle’s 2nd transaction in the Communications sector.
  • This is Crown Castle’s 9th largest (disclosed) transaction.
  • This is Crown Castle’s 3rd transaction in the United States.
  • This is Crown Castle’s 1st transaction in Washington.

M&A Deal Summary

Date 2010-09-08
Target NewPath Networks
Sector Communications
Buyer(s) Crown Castle
Sellers(s) Meritage Funds
Charterhouse Strategic Partners
Sweetwater Capital Group
Deal Type Add-on Acquisition
Deal Value 115M USD

Target

NewPath Networks

Seattle, Washington, United States
NewPath Networks is a wireless infrastructure company that designs, develops and operates fiber-fed wireless carrier networks using a distributed antenna architecture to improve signal strength and network capacity.

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Buyer(S) 1

Buyer

Crown Castle

Houston, Texas, United States

Category Company
Sector Communications
Employees3,900
Revenue 6.6B USD (2024)
DESCRIPTION
Entrance to Crown Castle's corporate headquarters in Houston, Texas.
Entrance to Crown Castle's corporate headquarters in Houston, Texas.

Crown Castle operates and leases shared wireless infrastructure, distributed antenna systems, and interests in land under third party towers. The Company's core business is providing access, including space or capacity, to towers, and to a lesser extent, to small cells and third party land interests via long-term contracts, including license, sublease and lease agreements. Crown Castle is based in Houston, Texas.


DEAL STATS #
Overall 3 of 9
Sector: Communications M&A 2 of 7
Type: Add-on Acquisition M&A Deals 3 of 8
State: Washington M&A 1 of 1
Country: United States M&A 3 of 9
Year: 2010 M&A 1 of 1
Size (of disclosed) 9 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-12 Global Signal

Sarasota, Florida, United States

Global Signal owned, operated, and leased towers and other communication structures for wireless communications. Global Signal was formed in 1995 and based in Sarasota, Florida.

Buy $5.8B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-12-19 NextG Networks

San Jose, California, United States

NextG Networks, Inc.,is a facilities-based carrier's carrier that designs, permits, builds, owns, operates and manages Distributed Antenna System (DAS) networks that enhance wireless performance. NextG Networks® DAS networks balance the aesthetics requirements of communities and consumers with the network performance needs of wireless carriers. Performance improvements include increased voice quality, greater handling of call traffic, fewer dropped calls, better mobile coverage, faster file transfers, and enhanced video quality.

Buy $1.0B

Seller(S) 3

SELLER

Meritage Funds

Arvada, Colorado, United States

Investor Investor


Category Growth Capital Firm
Founded 1998
PE ASSETS 1.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Meritage Funds is a private investment firm focused on growth equity opportunities. The Firm targets companies that deliver tech-based services that leverage recurring revenue business models. Areas of interest include businesses that 'enable communications, deliver content, and facilitate commerce'. Prospective transaction situations include direct equity financings, recapitalizations, control acquisitions, consolidations, restructurings, spin-outs and management buy-outs. Meritage typically looks to commit $3 to $20 million over the lifecycle of an investment. Meritage Funds was formed in 1998 and is based in Arvada, Colorado.


DEAL STATS #
Overall 8 of 14
Sector: Communications M&A 7 of 9
Type: Add-on Acquisition M&A Deals 5 of 8
State: Washington M&A 1 of 1
Country: United States M&A 6 of 12
Year: 2010 M&A 1 of 2
Size (of disclosed) 9 of 10
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-03-15 Access Media 3

Oakbrook, Illinois, United States

Access Media 3, Inc. provides triple-play video, high-speed internet, and voice services to residential customers in multiple dwelling unit developments. Access Media 3 was established in 2006 and is based in Oakbrook, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-12-29 Diveo Broadband Networks

Ft. Lauderdale, Florida, United States

Diveo Broadband Networks is a leading local broadband and data center solutions provider for corporate customers in Brazil and Colombia. The Company works together with its customers to develop made-to-fit, integrated solutions to satisfy dynamic, complex business needs.

Sell R$694M
SELLER

Charterhouse Strategic Partners

Summit, New Jersey, United States

Category Private Equity Firm
Founded 1973
Size Middle-Market
Type Sector Agnostic
DESCRIPTION

Charterhouse Strategic Partners is a private equity firm that targets investments in middle market companies located throughout North America. Charterhouse typically pursues companies valued between $25 and $150 million, however the firm will also consider new platform companies valued less than $50 million if there is the possibility for rapid expansion (organic or through acquisitions). Target companies generally possess highly motivated management with a proven track record, scalable business models, sustainable competitive advantages (brand recognition/proprietary products), and a leading position in a growing market. Broad sectors of interest include business services, healthcare services, consumer products, and consumer services. Charterhouse was founded in 1973 and is based in Summit, New Jersey.


DEAL STATS #
Overall 10 of 16
Sector: Communications M&A 2 of 3
Type: Add-on Acquisition M&A Deals 5 of 8
State: Washington M&A 1 of 1
Country: United States M&A 9 of 15
Year: 2010 M&A 3 of 3
Size (of disclosed) 8 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-08 Chamberlin Edmonds & Associates

Atlanta, Georgia, United States

Chamberlin Edmonds & Associates is a provider of specialized eligibility determination services to hospitals throughout the U.S. CEA guides uninsured patients through complex application processes to secure government and community reimbursement for uncompensated medical care.

Sell $260M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2011-01-24 RiverRoad Waste Solutions

Red Bank, New Jersey, United States

RiverRoad Waste Solutions Inc. Platform company formed to pursue a buildup in the asset-light waste and facility services sector. RiverRoad designs and implements waste and recycling programs that divert the waste stream, reduce waste management expense, and help multi-location customers realize sustainability initiatives. The Company's first acquisition was J&D Waste Management Inc., a Forked River, NJ based provider of outsourced waste logistics solutions.

Buy -
DESCRIPTION

Sweetwater Capital Group is a private equity firm focused on investing in and acquiring service based businesses with recurring revenue streams. Specific areas of interest include businesses which provide critical infrastructure to the internet and to wireless communications networks. Sweetwater looks to invest $3 to $15 million per transaction and will consider opportunities throughout the US. Sweetwater Capital was formed in 2002 and is based in Red Bank, New Jersey.


DEAL STATS #
Overall 3 of 3
Sector: Communications M&A 3 of 3
Type: Add-on Acquisition M&A Deals 3 of 3
State: Washington M&A 1 of 1
Country: United States M&A 3 of 3
Year: 2010 M&A 2 of 2
Size (of disclosed) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-01-01 Central States Tower Holdings

Wheaton, Illinois, United States

Central States Tower II (CST II) is an owner/operator of wireless communications towers in 14 states.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-03-30 Digital Fortress

Seattle, Washington, United States

Digital Fortress, Inc. is a provider of enterprise colocation and related services to large and medium-sized enterprise customers. The Company operates two data center facilities, principally located in the Pacific Northwest, drawing on the region’s low-cost, high-renewable energy content power sources. Digital Fortress was founded in 1994 and is based in Seattle, Washington.

Buy -