Boca Raton, FL, June 15, 2015. Phoenix Tower International (“PTI”), owned by funds managed by Blackstone’s Tactical Opportunities business, announces the acquisition of T4U Holding Brasil, S.A. (“T4U”). The acquisition, to be structured as a merger of T4U into PTI’s existing Brazilian tower business, includes 500 towers. Terms of the transaction were not disclosed.
The combined businesses will operate under the name Phoenix Tower do Brasil, which will own and operate 529 wireless infrastructure assets with a pipeline of over 250 wireless towers under construction for all of the major wireless operators in Brazil.
“We are thrilled to announce this investment in Brazil, a market where we see considerable growth in the wireless market and where we hope to explore further investment activity more broadly,” said Jasvinder Khaira, a Managing Director in Blackstone’s Tactical Opportunities business. “We believe the combination of PTI and T4U’s experienced teams create a strong foundation from which to build upon T4U’s existing portfolio of assets and pursue additional growth opportunities in the sector.”
“We feel that the merged business offers our wireless customers a significant footprint of high quality tower assets in major urban locations across Brazil as well as a strong combined team of experienced tower professionals focused on leasing, operating and building towers to meet our customer’s network demands now and in the future,” said Dagan Kasavana, Chief Executive Officer of Phoenix Tower International.
About Phoenix Tower International
Phoenix Tower International (“PTI”) owns and operates towers and other wireless infrastructure and related sites throughout Latin America and the United States. PTI’s customers include América Móvil, Telefonica, Cable & Wireless Communications, AT&T, T-Mobile, Sprint-Nextel, Verizon and Digicel Group. PTI was founded in 2013 with a mission to be a premier site provider to wireless operators across various high-growth markets internationally. PTI is currently operating in Costa Rica, Panama, Dominican Republic, Colombia, the United States and Brazil. PTI’s investors include funds managed by Blackstone Tactical Opportunities, as well as various members of the management team. PTI is based in Boca Raton, Florida. For more information about Phoenix Tower International, please visit www.phoenixintnl.com.