M&A Deal Summary

Crown Castle Acquires NextG Networks

On December 19, 2011, Crown Castle acquired infrastructure company NextG Networks from SilverHaze Partners and Madison Dearborn Partners for 1.0B USD

Acquisition Highlights
  • This is Crown Castle’s 1st transaction in the Infrastructure sector.
  • This is Crown Castle’s 5th largest (disclosed) transaction.
  • This is Crown Castle’s 4th transaction in the United States.
  • This is Crown Castle’s 1st transaction in California.

M&A Deal Summary

Date 2011-12-19
Target NextG Networks
Sector Infrastructure
Buyer(s) Crown Castle
Sellers(s) SilverHaze Partners
Madison Dearborn Partners
Deal Type Add-on Acquisition
Deal Value 1.0B USD
Advisor(s) Deutsche Bank Corporate & Investment Banking (Financial)
Kirkland & Ellis
Kelley Drye (Legal)

Target

NextG Networks

San Jose, California, United States
NextG Networks, Inc.,is a facilities-based carrier's carrier that designs, permits, builds, owns, operates and manages Distributed Antenna System (DAS) networks that enhance wireless performance. NextG Networks® DAS networks balance the aesthetics requirements of communities and consumers with the network performance needs of wireless carriers. Performance improvements include increased voice quality, greater handling of call traffic, fewer dropped calls, better mobile coverage, faster file transfers, and enhanced video quality.

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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 4 of 9
Sector (Infrastructure) 1 of 1
Type (Add-on Acquisition) 4 of 8
State (California) 1 of 2
Country (United States) 4 of 9
Year (2011) 1 of 1
Size (of disclosed) 5 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-08 NewPath Networks

Seattle, Washington, United States

NewPath Networks is a wireless infrastructure company that designs, develops and operates fiber-fed wireless carrier networks using a distributed antenna architecture to improve signal strength and network capacity.

Buy $115M
FOLLOWING 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

Seller(S) 2

SELLER

SilverHaze Partners

Washington, District of Columbia, United States

Category Private Equity Firm
Founded 2000
Size Small
Type Sector Agnostic
DESCRIPTION

SilverHaze Partners is a private investment firm that acts as both a fund of funds vehicle as well as a direct investor in companies. SilverHaze devotes 80% of capital to other buyout funds with the remainder reserved for opportunistic investments in technology related businesses. SilverHaze Partners was formed in 2000 and is based in McLean, Virginia.


DEAL STATS #
Overall 11 of 13
Sector (Infrastructure) 1 of 1
Type (Add-on Acquisition) 6 of 8
State (California) 3 of 4
Country (United States) 11 of 13
Year (2011) 1 of 1
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-05 Spongecell

New York, New York, United States

Spongecell intelligently manages calendar and event information through their web-based product. Spongecell was founded in 2006 and is based in New York City.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2013-12-09 EdgeCast

Los Angeles, California, United States

EdgeCast helps companies meet the ever-growing expectations of their customers. Edgecast's set of solutions across content delivery, cloud security, and video streaming, combined with a team of customer-oriented domain experts, streamlines operations and improves efficiencies, so businesses can redirect their energy into creating value for their customers not managing multiple vendors and workflows. EdgeCast was founded in 2006 and is based in Los Angeles, California.

Sell -
SELLER

Madison Dearborn Partners

Chicago, Illinois, United States

Investor Investor Investor Investor Investor


Category Private Equity Firm
Founded 1992
PE ASSETS 28.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Madison Dearborn Partners (MDP) is a large private equity firm that targets buyouts of private or publicly held companies, divestitures of larger companies, recapitalizations of family-owned or closely-held companies, acquisition-oriented financings, and financings to fund internal growth. MDP's target investment size is $100 to $600 million in buyout oriented transactions and $100 to $400 million in growth capital commitments. Areas of interest include basic industries (natural resources, chemicals, energy and power, automotive, building products, food, metals and mining, refining, paper, packaging and forest products, and general manufacturing), as well as communications, consumer products/services, financial services, and healthcare. Madison Dearborn Partners was formed in 1992 and is based in Chicago, Illinois.


DEAL STATS #
Overall 38 of 74
Sector (Infrastructure) 1 of 1
Type (Add-on Acquisition) 13 of 34
State (California) 7 of 10
Country (United States) 34 of 66
Year (2011) 3 of 3
Size (of disclosed) 15 of 27
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2011-06-01 Valitas Health Services

St. Louis, Missouri, United States

Valitas is one of the largest providers of clinical contract staffing and related health care management services in the United States, managing contract sites for correctional facilities and physician practices serving military hospitals.

Sell $250M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2012-02-17 TransUnion

Chicago, Illinois, United States

TransUnion is a global provider of information and risk management solutions. TransUnion provides these solutions to businesses across multiple industries and to individual consumers. TransUnion technology and services enable businesses to make informed credit granting, risk management, underwriting, fraud protection and customer acquisition decisions by delivering data that's integrated with analytics and decisioning capabilities. TransUnion was founded in 1968 and is based in Chicago, Illinois.

Sell -