Investments | 05/10/2022
Wren House Invests In Phoenix International
About the investment
London, October 5th, 2022: Wren House Infrastructure Management Limited (“Wren House”), the London-based global infrastructure investment manager, is pleased to announce it will become a minority investor in Phoenix Tower International (“PTI””), a US-based provider of mobile communications infrastructure and one of the largest and fastest growing independent tower platforms in the world. PTI is majority owned by funds led by Blackstone’s infrastructure business.
Founded in 2013 and headquartered in Florida, PTI operates over 19,000 towers across 20 countries in North America, South America, the Caribbean and Europe. It has a diversified, long-term customer base of global mobile network operators and has consistently grown revenues across all of its markets in recent years. Wren House is committed to supporting PTI’s focus on further accelerated growth.
Dagan Kasavana, Founder and Chief Executive of Phoenix Tower International, commented:
“We are excited to add Wren House to our long-term partnership with Blackstone and look forward to benefiting from their investment experience. We believe that there is significant opportunity in the wireless infrastructure sector and are confident that with the support of the Wren House and Blackstone teams, PTI will continue to execute on its strategic growth priorities.”
Philippe Busslinger, Chief Executive Officer of Wren House said:
“We are excited to be partnering with PTI’s management team and Blackstone to support PTI’s ambitious growth plans. PTI is a high quality, high growth and diversified telecoms platform that supports the much-needed upgrade of tower telecommunications infrastructure in the Americas and Europe. This investment fits Wren House’s strategy of supporting outstanding management teams and their platforms to deliver essential services in the communities they operate. Digitalisation is a key investment theme for us and PTI represents Wren House’s second investment in the space. PTI is also another major step for Wren House’s portfolio build-up in a priority market like the US, where Wren House intends to set up a team in the next few months.”
This marks Wren House’s second investment in the United States this year, following its acquisition of Direct ChassisLink, a leading chassis provider, in June and Wren House’s third investment in the United States, having acquired i3 Broadband, an Illinois based fiber operator, in December 2020.
Citi acted as financial advisers to Wren House and Sullivan & Cromwell as its legal advisers.
Notes to Editors
For further information please contact:
Simone Selzer / Sumeet Desai
Brunswick Group Ltd
+44 (0)207 404 5959 / +44 (0) 7515 187438
About Wren House
Wren House is a London-based captive global infrastructure investment manager, with a focus on delivering attractive risk adjusted equity returns through a disciplined investment approach, a long-term responsible investment horizon and active asset management. With a flexible and commercial approach to investment, we have a clear mandate and a long-term view without the need to exit. Wren House has a team of nearly 30 professionals. Our portfolio has included investments in airports, ports, water, energy generation (conventional and renewables), distribution and transmission, social and digital infrastructure and spans 11 countries and over 20,000 employees in the US, UK, Europe, Australia, Central and South America. Further information on Wren House and its portfolio is available at: http://wrenhouseinfra.com
About Phoenix Tower International
Pro forma for pending transactions, PTI, through its affiliates and subsidiaries, owns and operates over 22,000 telecom towers throughout Europe, the United States, Latin America and the Caribbean.
PTI was founded in 2013 with a mission to be a premier site provider to wireless operators across the world in high-growth markets. PTI’s investors include funds managed by Blackstone and various members of the management team and is headquartered in Boca Raton, Florida.
For more information, please visit www.phoenixintnl.com