M&A Deal Summary

Crown Castle Acquires Tower Development

On April 8, 2016, Crown Castle acquired communications company Tower Development from Berkshire Partners for 461M USD

Acquisition Highlights
  • This is Crown Castle’s 4th transaction in the Communications sector.
  • This is Crown Castle’s 7th largest (disclosed) transaction.
  • This is Crown Castle’s 6th transaction in the United States.
  • This is Crown Castle’s 1st transaction in Massachusetts.

M&A Deal Summary

Date 2016-04-08
Target Tower Development
Sector Communications
Buyer(s) Crown Castle
Sellers(s) Berkshire Partners
Deal Type Add-on Acquisition
Deal Value 461M USD

Target

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.

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Buyer(S) 1

Buyer

Crown Castle

Houston, Texas, United States

Category Company
Sector Communications
Employees4,700
Revenue 7.0B USD (2023)
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 6 of 9
Sector (Communications) 4 of 7
Type (Add-on Acquisition) 6 of 8
State (Massachusetts) 1 of 2
Country (United States) 6 of 9
Year (2016) 1 of 2
Size (of disclosed) 7 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-08-04 Quanta Fiber Networks

Houston, Texas, United States

Quanta Fiber Networks, Inc. (Sunesys) is a provider of communication services.

Buy $1.0B
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-11-01 FPL FiberNet

Miami, Florida, United States

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.

Buy $1.5B

Seller(S) 1

SELLER

Berkshire Partners

Boston, Massachusetts, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1984
PE ASSETS 16.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Berkshire Partners is a private equity firm focused on investing in businesses with strong management and that lead their respective markets. Berkshire will consider investments in both public and private companies. Prospective transactions for private companies include leveraged buyouts, recapitalizations, growth capital financings, and privatizations. Public company transactions include take-privates, PIPEs, and equity stakes. Berkshire generally looks to invest $150 to $500 million of equity capital per transaction in companies valued up to $2 billion. Sectors of interest include industrial manufacturing, consumer products, retailing, transportation, communications and business services. Berkshire Partners was formed in 1984 and is based in Boston, Massachusetts.


DEAL STATS #
Overall 42 of 61
Sector (Communications) 2 of 4
Type (Add-on Acquisition) 15 of 20
State (Massachusetts) 6 of 8
Country (United States) 38 of 52
Year (2016) 1 of 3
Size (of disclosed) 14 of 16
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-22 Affordable Care

Morrisville, North Carolina, United States

Affordable Care is a dental practice management services company that supports a network of affiliated dental practices providing removable prosthetics and related services. Affordable Care was founded in 1975 and is based in Morrisville, North Carolina.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-05-02 PurFoods

Ankeny, Iowa, United States

PurFoods is a provider of home delivered meals to Medicaid clients. Company started PurFoods (pure·foods) to help people, like ourselves, who care for a loved one and want to ensure they have access to healthy meals that are convenient to prepare. PurFoods was founded in 1999 and is based in Ankeny, Iowa.

Buy -