M&A Deal Summary

Crown Castle Acquires FPL FiberNet

On November 1, 2016, Crown Castle acquired communications company FPL FiberNet from NextEra Energy for 1.5B USD

Acquisition Highlights
  • This is Crown Castle’s 5th transaction in the Communications sector.
  • This is Crown Castle’s 3rd largest (disclosed) transaction.
  • This is Crown Castle’s 7th transaction in the United States.
  • This is Crown Castle’s 2nd transaction in Florida.

M&A Deal Summary
Date 2016-11-01
Target FPL FiberNet
Sector Communications
Buyer(s) Crown Castle
Sellers(s) NextEra Energy
Deal Type Divestiture
Deal Value 1.5B USD

Target

FPL FiberNet

Miami, Florida, United States
website
FPL FiberNet LLC is a provider of end-to-end bandwidth infrastructure services specializing in fiber-optic network solutions that drive stronger business productivity and performance.

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Buyer(S) 1

Buyer

Crown Castle

Houston, Texas, United States

website

Category Company
Sector Communications
Employees5,000
Revenue 6.3B USD (2021)
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.

DEAL STATS #
Overall 7 of 9
Sector (Communications) 5 of 7
Type (Divestiture) 1 of 1
State (Florida) 2 of 2
Country (United States) 7 of 9
Year (2016) 2 of 2
Size (of disclosed) 3 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2016-04-08 Tower Development

Boston, Massachusetts, United States

Tower Development Corp. is a tower development and acquisition vehicle wholly owned by Berkshire Partners. TDC actively pursues new tower builds and acquisitions in close partnership with Crown Castle.

Buy $461M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-04-17 Wilcon Operations

Los Angeles, California, United States

Wilcon Operations LLC is a provider of fiber optic network infrastructure in Southern California connecting major colocation facilities, data centers and enterprise locations. Wilcon Operations LLC was established in 1998 and is headquartered in Los Angeles, California.

Buy $600M

Seller(S) 1

SELLER

NextEra Energy

Juno Beach, Florida, United States

website

Category Company
Founded 1925
Sector Utilities
Employees15,000
Revenue 21.0B USD (2022)
DESCRIPTION

NextEra Energy is a clean energy company, more than 42,000 megawatts of generating capacity. Headquartered in Juno Beach, Florida, NextEra Energy's principal subsidiaries are Florida Power & Light Company, which serves approximately 4.6 million customer accounts in Florida. NextEra Energy was founded in 1925 and is based in Juno Beach, Florida.

DEAL STATS #
Overall 2 of 3
Sector (Communications) 1 of 1
Type (Divestiture) 1 of 2
State (Florida) 1 of 2
Country (United States) 2 of 3
Year (2016) 1 of 1
Size (of disclosed) 1 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-03-11 Mountain Valley Pipeline

Pittsburgh, Pennsylvania, United States

Mountain Valley Pipeline LLC is a proposal to build a pipeline to bring natural gas.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2018-05-21 Southern - Florida Assets

Florida, United States

Southern Co. - Florida Assets include Gulf Power Company and the entities holding Southern Power's interests in Plant Oleander and Plant Stanton provide customer-focused business models and strong commitments to safety, reliability, customer service and community engagement.

Buy $6.5B
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