M&A Deal Summary

Basalt Infrastructure Partners Acquires Skyway Towers

On May 27, 2022, infrastructure investor Basalt Infrastructure Partners acquired communications company Skyway Towers from Tinicum Capital Partners and Permit Capital

Acquisition Highlights
  • This is Basalt Infrastructure Partners’ 5th transaction in the Communications sector.
  • This is Basalt Infrastructure Partners’ 4th transaction in the United States.
  • This is Basalt Infrastructure Partners’ 1st transaction in Florida.

M&A Deal Summary

Date 2022-05-27
Target Skyway Towers
Sector Communications
Buyer(s) Basalt Infrastructure Partners
Sellers(s) Tinicum Capital Partners
Permit Capital
Deal Type Secondary Buyout
Advisor(s) Houlihan Lokey (Financial)
Fredrikson & Byron (Legal)

Target

Skyway Towers

Land O’ Lakes, Florida, United States
Skyway Towers is a nationwide telecommunications infrastructure developer that owns and operates multi-tenant communications towers across the United States. The Company’s existing portfolio consists of over 400 high quality communications towers spanning 30 states. Skyway Towers is based in Land O’ Lakes, Florida.

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Buyer(S) 1

Buyer

Basalt Infrastructure Partners

Investor Investor Investor Investor Investor


Category Infrastructure
Founded 2011
PE ASSETS 2.0B USD
Size Large
Type Sector Focused
DESCRIPTION

Basalt Infrastructure Partners is an infrastucture investor focused on opportunities across North America and Europe. The Firm's principal areas of interest include utilities, energy, and transportation. Basalt prefers assets with significant barriers to entry, sustainable long-term cash-flows, and high operating margins. In addition to acquiring operational assets, the Basalt will also consider late stage construction projects. Basalt Infrastructure Partners was founded in 2011 and is headquartered in London.


DEAL STATS #
Overall 13 of 17
Sector: Communications M&A 5 of 6
Type: Secondary Buyout M&A Deals 3 of 6
State: Florida M&A 1 of 1
Country: United States M&A 4 of 7
Year: 2022 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-02-16 Nobina

Solna, Sweden

Nobina is a public transport service provider. Nobina's expertise in prospecting, tendering and active management of public transport contracts in combination with long-term delivery quality makes us the industry leader in terms of profitability, development, and initiatives promoting a healthier industry. Nobina was founded in 1911 and is based in Solna, Sweden.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-05-31 Fatbeam

Coeur d’Alene, Idaho, United States

Fatbeam is a provider of reliable fiber-based network solutions to enterprise, healthcare, government, and education customers looking to accelerate their growth in the Western US. Fatbeam’s extensive network footprint spans over 45,000 fiber miles, primarily in population-dense metropolitan areas within Arizona, Idaho, Montana, Nevada, Oregon, Washington, and Wyoming. Fatbeam was founded in 2010 and is based in Coeur d’Alene, Idaho.

Buy -

Seller(S) 2

SELLER

Tinicum Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1998
PE ASSETS 1.6B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Tinicum Capital Partners is a private equity group that seeks to acquire control of companies through acquisitions or restructurings or to take minority stakes in public or private companies through equity or debt securities. Tinicum's target equity investment size is between $30 and $150 million per transaction. Sectors of interest include aerospace; HVAC components; medical devices; financial services; specialty industrial products or components; pumps, valves and other process control equipment; specialty machinery; electrical equipment; motors and motion control equipment; specialty metals/magnetics; and media/advertising. The Firm will not consider investments in venture capital, real estate, or unproven technology. Tinicum was formed in 1998 and is based in New York City.


DEAL STATS #
Overall 25 of 28
Sector: Communications M&A 1 of 1
Type: Secondary Buyout M&A Deals 4 of 6
State: Florida M&A 3 of 4
Country: United States M&A 22 of 25
Year: 2022 M&A 1 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-02 Watlow

Saint Louis, Missouri, United States

Watlow is a provider of innovative thermal products and systems. The company designs and manufactures electric heaters and temperature sensors and controls that are used in a wide variety of industries, including semiconductor capital equipment, energy and environmental technologies, medical, foodservice and refrigerated transportation. Watlow was founded in 1922 and is based in Saint Louis, Missouri.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2022-06-23 Advantek

Eden Prairie, Minnesota, United States

Advantek manufactures precision component packaging and delivery systems designed to transport and protect high-value semiconductor and electronic components during shipping and storage. Advantek was founded in 1978 and is based in Eden Prairie, Minnesota.

Sell -
DESCRIPTION

Permit Capital is a private investment firm focused on public and private company investing. Permit Capital is based in West Conshohocken, Pennsylvania.


DEAL STATS #
Overall 1 of 1
Sector: Communications M&A 1 of 1
Type: Secondary Buyout M&A Deals 1 of 1
State: Florida M&A 1 of 1
Country: United States M&A 1 of 1
Year: 2022 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2012-12-01 Skyway Towers

Land O’ Lakes, Florida, United States

Skyway Towers is a nationwide telecommunications infrastructure developer that owns and operates multi-tenant communications towers across the United States. The Company’s existing portfolio consists of over 400 high quality communications towers spanning 30 states. Skyway Towers is based in Land O’ Lakes, Florida.

Buy -