M&A Deal Summary

Harmoni Towers Acquires Parallel Infrastructure

On November 3, 2022, Harmoni Towers acquired infrastructure company Parallel Infrastructure from Apollo Global Management

Acquisition Highlights
  • This is Harmoni Towers’ 1st transaction in the Infrastructure sector.
  • This is Harmoni Towers’ 1st transaction in the United States.
  • This is Harmoni Towers’ 1st transaction in North Carolina.

M&A Deal Summary
Date 2022-11-03
Target Parallel Infrastructure
Sector Infrastructure
Buyer(s) Harmoni Towers
Sellers(s) Apollo Global Management
Deal Type Add-on Acquisition

Target

Parallel Infrastructure

Charlotte, North Carolina, United States
Parallel Infrastructure is a build-to-suit tower operator with nearly 500 macro cell towers across the US and several hundred more under contract or in late-stage development. The Company counts all major US wireless carriers as customers, including AT&T, Verizon, and T-Mobile, which lease space on towers under long-term contracts. Parallel Infrastructure is based in Charlotte, North Carolina.

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Buyer(S) 1

Buyer

Harmoni Towers

Little Rock, Arkansas, United States
Category Company
Sector Infrastructure
DESCRIPTION

Harmoni Towers owns, operates, and builds mission-critical communications infrastructure. The company focuses on the acquisition and construction of communication networks and works with customers in a wide variety of situations, including monetizing existing assets and new site development. Harmoni Towers is based in Little Rock, Arkansas.

DEAL STATS #
Overall 1 of 1
Sector (Infrastructure) 1 of 1
Type (Add-on Acquisition) 1 of 1
State (North Carolina) 1 of 1
Country (United States) 1 of 1
Year (2022) 1 of 1

Seller(S) 1

SELLER

Apollo Global Management

New York, New York, United States

Investor Investor Investor Investor Investor

Category Asset Manager
Founded 1990
PE ASSETS 45.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Apollo Global Management is a global alternative investment firm. The Firm segments its activity between private equity, capital markets, real estate, and publicly traded investment funds. Within private equity, Apollo targets traditional buyouts, distressed situations, as well as minority investments to help companies make acquisitions or fund other needs. Sectors of interest include chemicals, commodities, consumer/retail, distribution, transportation, financial services, business services, manufacturing, industrial, media/cable/leisure, packaging, and satellite/wireless. Apollo's geographic coverage spans Europe, North America, and Asia. Apollo manages publicly traded Apollo Investment Corporation, which provides equity and junior capital to middle-market companies, as well as Apollo Commercial Real Estate Finance, Inc. Apollo Global Management was formed in 1990 and is based in New York City.

DEAL STATS #
Overall 62 of 67
Sector (Infrastructure) 2 of 2
Type (Add-on Acquisition) 18 of 21
State (North Carolina) 4 of 4
Country (United States) 47 of 51
Year (2022) 6 of 6
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2022-10-04 Ingenico

Paris, France

Ingenico is a provider of payment solutions, enabling banks and merchants to manage their payment activities across all sales channels (in-store, on-line and mobile). Ingenico was founded in 1980 and is based in Paris, France.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2023-01-31 Western Digital

San Jose, California, United States

Western Digital is a developer and manufacturer of storage products that enable people to create, manage, experience and preserve digital content. The Company designs and makes storage devices, networking equipment and home entertainment products under the WD, HGST and G-Technology brands. Western Digital was formed in 1970 and is based in San Jose, California.

Buy -
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