M&A Deal Summary

CBRE Caledon Acquires CitySwitch

On September 14, 2021, private equity firm CBRE Caledon acquired communications company CitySwitch from American Infrastructure Funds

Acquisition Highlights
  • This is CBRE Caledon’s 2nd transaction in the Communications sector.
  • This is CBRE Caledon’s 2nd transaction in the United States.
  • This is CBRE Caledon’s 1st transaction in Georgia.

M&A Deal Summary
Date 2021-09-14
Target CitySwitch
Sector Communications
Buyer(s) CBRE Caledon
Sellers(s) American Infrastructure Funds
Deal Type Secondary Buyout
Advisor(s) TD Securities (Financial)

Target

CitySwitch

Atlanta, Georgia, United States
CitySwitch develops, owns and manages wireless infrastructure for broadband wireless customers across the U.S. CitySwitch specializes in scalable network development services, including the tower and small cell development, and is a pioneer in railroad asset development. CitySwitch is based in Atlanta, Georgia.

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Buyer(S) 1

Buyer

CBRE Caledon

Investor Investor Investor Investor Investor

Category Private Equity Firm
Founded 2006
PE ASSETS 2.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

CBRE Caledon is a private equity firm that invests in a variety of industries and situations. CBRE Caledon is headquartered in Toronto, Ontario.

DEAL STATS #
Overall 3 of 3
Sector (Communications) 2 of 2
Type (Secondary Buyout) 2 of 2
State (Georgia) 1 of 1
Country (United States) 2 of 2
Year (2021) 3 of 3
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-04-08 WANRack

Lenexa, Kansas, United States

WANRack provides private fiber optic WAN solutions for K-12 school districts throughout the United States. Service offerings include E-Rate compliant lit fiber, dark fiber, and special construction solutions. WANRack was founded in 2005 and is based in Lenexa, Kansas.

Buy -

Seller(S) 1

SELLER

American Infrastructure Funds

Foster City, California, United States

Investor Investor Investor Investor Investor

Category Infrastructure
Founded 2006
Size Large
Type Sector Focused
DESCRIPTION

American Infrastructure MLP Fund is a specialist private equity group focused on natural resources and real property businesses. American looks for businesses with steady, recurring cash-flows. Specific areas of interest include oil/gas exploration, minerals/mining, forest products, fertilizers, private and publicly owned real estate assets, and any other businesses that generate stable, after tax cash-flows that can be distributed. American Infrastructure MLP was founded in 2006 and is based in Foster City, California.

DEAL STATS #
Overall 5 of 6
Sector (Communications) 1 of 1
Type (Secondary Buyout) 3 of 4
State (Georgia) 1 of 1
Country (United States) 5 of 6
Year (2021) 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-05-17 Landmark Dividend

El Segundo, California, United States

Landmark Dividend is an aggregator of ground leases under essential micro-infrastructure such as cell towers and billboards. Landmark’s management team pioneered the ground lease acquisition business in 2002 and has successfully closed over 4,000 transactions. Landmark offers payments to property owners in exchange for long-term ground leases and real property easements. Landmark Dividend is based in El Segundo, California.

Sell $972M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2024-06-17 Unison Energy

Greenwich, Connecticut, United States

Unison Energy is a fully integrated distributed generation company that develops, builds, owns, and operates combined heat and power (CHP) projects at commercial and industrial customer sites including hospitals, hotels, supermarkets, and manufacturing facilities. Unison Energy is based in Greenwich, New York.

Sell -
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