M&A Deal Summary

Stonepeak, The Edgewater Funds, DigitalBridge Group and Northleaf Capital Partners Acquire ExteNet Systems

On July 23, 2015, infrastructure investor Stonepeak, private equity firm The Edgewater Funds, infrastructure investor DigitalBridge Group and asset manager Northleaf Capital Partners acquired information technology company ExteNet Systems

Acquisition Highlights
  • This is Stonepeak’s 1st, The Edgewater Funds’ 6th, DigitalBridge Group’s 1st and Northleaf Capital Partners’ 1st transaction in the Information Technology sector.
  • This is Stonepeak’s 8th, The Edgewater Funds’ 39th, DigitalBridge Group’s 1st and Northleaf Capital Partners’ 2nd transaction in the United States.
  • This is Stonepeak’s 2nd, The Edgewater Funds’ 4th, DigitalBridge Group’s 1st and Northleaf Capital Partners’ 1st transaction in Texas.

M&A Deal Summary

Date 2015-07-23
Target ExteNet Systems
Sector Information Technology
Buyer(s) Stonepeak
The Edgewater Funds
DigitalBridge Group
Northleaf Capital Partners
Deal Type Recapitalization

Target

ExteNet Systems

Frisco, Texas, United States
ExteNet Systems is a designer and operater of distributed networks for use by wireless carriers and property owners in key markets. Using distributed antenna systems (DAS), remote radio heads (RRH), small cells, Wi-Fi, software-defined network (SDN) based Evolved Packet Core (EPC) and other technologies, ExteNet deploys solutions to enhance wireless service and network performance across both outdoor and indoor environments. ExteNet Systems was founded in 2002 and is based in Frisco, Texas.

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Buyer(S) 4

Buyer

Stonepeak

Investor Investor Investor Investor Investor


Category Infrastructure
Founded 2011
PE ASSETS 73.0B USD
Size Mega
Type Sector Focused
DESCRIPTION

Stonepeak is a private equity firm focused on North American infrastructure investing. Specific areas of interest include energy assets, power/renewables, transportation, utilities, water, and communications. Stonepeak was formed in 2011 and is headquartered in New York City.


DEAL STATS #
Overall 8 of 44
Sector: Information Technology M&A 1 of 5
Type: Recapitalization M&A Deals 1 of 1
State: Texas M&A 2 of 3
Country: United States M&A 8 of 24
Year: 2015 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-17 Vertical Bridge

Delray Beach, Florida, United States

Vertical Bridge is an owner and manager of wireless communications infrastructure. Vertical Bridge owns, operates and master leases over 266,000 towers, rooftop, billboard, utility attachment, and other site locations in support of wireless network deployments. Vertical Bridge was founded in 2002 and is based in Delray Beach, Florida.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2015-10-12 Casper Crude to Rail

Casper, Wyoming, United States

Casper Crude to Rail LLC is a company develop, construct and operate crude oil rail infrastructure.

Sell $225M
Buyer

The Edgewater Funds

Chicago, Illinois, United States

Category Private Equity Firm
Founded 1991
PE ASSETS 2.8B USD
Size Large
Type Sector Agnostic
DESCRIPTION

The Edgewater Funds is a private equity firm that targets investments in profitable, middle-market growth companies. Target companies typically have revenues of $20 to $500 million in revenue and EBITDA of $5 to $30 million. The Firm will consider minority and control investments in the form of growth capital financings and traditional buyouts. Edgewater looks for North American businesses operating in a variety of industries. Sectors of interest include business services; financial and government services; consumer products and services; healthcare; IT services and software; and industrial/manufacturing. Edgewater was formed in 1991 and is based in Chicago, Illinois.


DEAL STATS #
Overall 40 of 53
Sector: Information Technology M&A 6 of 8
Type: Recapitalization M&A Deals 2 of 3
State: Texas M&A 4 of 8
Country: United States M&A 39 of 51
Year: 2015 M&A 2 of 2
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2015-06-02 Skyware Global

Smithfield, North Carolina, United States

Skyware Global is a provider in the design, manufacture, and distribution of systems for the global satellite industry. Skyware Global provides direct-to-home, enterprise VSAT and satellite broadband equipment for residential, commercial and government use. Skyware Global was founded in 2008 and is based in Smithfield, North Carolina.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-07-13 DataBank

Dallas, Texas, United States

DataBank is a provider of an enterprise-class data center, cloud, and interconnection services, offering customers 100% uptime availability of data, applications, and infrastructure. DataBank’s managed data center services are anchored in world-class facilities. DataBank’s customized technology solutions are designed to help customers effectively manage risk, improve their technology performance and allow them to focus on their core business objectives.

Buy -
Buyer
DESCRIPTION
DigitalBridge's headquarters in Boca Raton, Florida.
DigitalBridge's headquarters in Boca Raton, Florida.

DigitalBridge Group is a global digital infrastructure investment firm. The Firm looks to acquire a variety of assets and operating businesses spanning cell towers, data centers, fiber, small cells, and edge infrastructure. DigitalBridge is headquartered in Boca Raton, Florida.


DEAL STATS #
Overall 2 of 23
Sector: Information Technology M&A 1 of 6
Type: Recapitalization M&A Deals 1 of 1
State: Texas M&A 1 of 2
Country: United States M&A 1 of 10
Year: 2015 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-01-01 Mexico Telecom Partners

Mexico, Mexico

Mexico Telecom Partners is a provider of wireless infrastructure solutions serving mobile carriers and the telecom tower industry. Mexico Telecom Partners is based in Mexico.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-01-01 StrattoOpencell

London, United Kingdom

StrattoOpencell is a provider of DAS and small cell networks for indoor mobile coverage. Stratto provides a solution to enterprise customers, industry verticals, property developers, owners, and managers. Stratto's executives are veterans of the industry and have significant expertise in launching and scaling telecom, technology, network, and service companies. StrattoOpencell was founded in 2014 and is based in London, England.

Buy -
Buyer

Northleaf Capital Partners

Investor Investor Investor Investor Investor


Category Asset Manager
Founded 2009
PE ASSETS 22.0B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Northleaf Capital Partners is an asset management firm focused on private equity, private credit, and infrastructure investment opportunities. The Firm's private equity group looks to make fund, secondary, as well as direct investments. Within its direct investing practice, Northleaf will consider a variety of middle-market investment situations including growth capital financings, successions, consolidations, and other special situations. Northleaf Capital Partners was established in 2009 and is based in Toronto, Ontario.


DEAL STATS #
Overall 5 of 26
Sector: Information Technology M&A 1 of 2
Type: Recapitalization M&A Deals 1 of 1
State: Texas M&A 1 of 2
Country: United States M&A 2 of 13
Year: 2015 M&A 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2014-10-01 Quantem

Melbourne, Australia

Quantem is the owner and operator of bulk liquid storage facilities across twelve locations in Australia and New Zealand with total terminal capacity of approximately 600,000 cubic metres. The business provides storage for products including industrial chemicals, fats and oils petrochemicals and bulk petroleum with the ability to handle hazardous and non-hazardous, and flammable and combustible products. Quantem is based in Melbourne, Australia.

Buy -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2016-10-01 Navigator Terminals

Grays, United Kingdom

Navigator Terminals is the owner and operator of four independent portside bulk liquid storage terminals across the United Kingdom in London (Thames), Teesside (Seal Sands and North Tees) and Barry (Windmill) storing a mix of petroleum products, petrochemicals, chemicals, gases, and fats and oils across a combined total capacity of 1.3 million cubic metres. Navigator Terminals was founded in 2016 and is based in Grays, United Kingdom.

Buy -