M&A Deal Summary

Crown Castle Acquires Wilcon Operations

On April 17, 2017, Crown Castle acquired communications company Wilcon Operations from Pamlico Capital for 600M USD

Acquisition Highlights
  • This is Crown Castle’s 6th transaction in the Communications sector.
  • This is Crown Castle’s 6th largest (disclosed) transaction.
  • This is Crown Castle’s 8th transaction in the United States.
  • This is Crown Castle’s 2nd transaction in California.

M&A Deal Summary

Date 2017-04-17
Target Wilcon Operations
Sector Communications
Buyer(s) Crown Castle
Sellers(s) Pamlico Capital
Deal Type Add-on Acquisition
Deal Value 600M USD
Advisor(s) Bank Street (Financial)
Alston & Bird (Legal)

Target

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.

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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 8 of 9
Sector (Communications) 6 of 7
Type (Add-on Acquisition) 7 of 8
State (California) 2 of 2
Country (United States) 8 of 9
Year (2017) 1 of 2
Size (of disclosed) 6 of 9
PREVIOUS 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
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-18 Lightower Fiber Networks

Boxborough, Massachusetts, United States

Lightower Fiber Networks LLC is a fiber network and broadband service provider in the Northeast, offering over 4,600 fiber route miles coupled with comprehensive transport, alternative access, and nationwide long haul services.

Buy $7.1B

Seller(S) 1

SELLER

Pamlico Capital

Charlotte, North Carolina, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1988
PE ASSETS 3.5B USD
Size Large
Type Sector Agnostic
DESCRIPTION

Pamlico Capital is a private equity group focused on mid-sized transactions. Pamlico looks to invest $25 to $125 million per transaction. Sectors of interest include business and technology services, consumer products/services, industrial, energy, financial services, healthcare, media, and communications. Pamlico will consider both minority and majority positions. Prospective transactions include management or leveraged buyouts, recapitalizations, growth financings, mezzanine, and special situations. Pamlico was formerly known as Wachovia Capital Partners. The Firm was originally formed in 1988 and is based in Charlotte, North Carolina.


DEAL STATS #
Overall 40 of 61
Sector (Communications) 6 of 8
Type (Add-on Acquisition) 18 of 32
State (California) 4 of 4
Country (United States) 38 of 59
Year (2017) 1 of 4
Size (of disclosed) 5 of 14
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2017-02-02 Winsight

Chicago, Illinois, United States

Winsight is a provider of actionable information, market intelligence, professional events, and media to the global restaurant, noncommercial foodservice, and convenience retail industries. The Company offers a multi-channel portfolio of brands across research, data and analytics, events, magazines, web sites, e-newsletters, and content marketing solutions. Winsight is based in Chicago, Illinois.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2017-07-10 Becker s Healthcare

Chicago, Illinois, United States

Becker's Healthcare is an information and media platform that has established a thought leadership position in the “business of healthcare. Becker's Healthcare is a source of cutting-edge business information for healthcare industry leaders. The company’s topically-focused brands target and engage healthcare audiences that include hospital and health system leaders, c-suite executives, physicians, practice owners, administrators, and clinical leaders. Becker's Healthcare is based in Chicago, Illinois.

Buy -