OMERS Infrastructure last week announced that it has signed an agreement to acquire Stilmark, an independent Australian developer, owner and operator of mobile tower assets. The transaction will be OMERS second tower investment in Australia in two months, following the announcement on May 9 that it signed an agreement to acquire 100 percent of TPG Telecom Limited’s mobile tower and rooftop portfolio. The details of this transaction are not being disclosed, although prior reports had the price around $656 million.
Christopher Curtain, Senior Managing Director, Asia-Pacific for OMERS Infrastructure, said: “We have developed a strong relationship with and respect for the Stilmark management team and their capabilities. The strong focus on delivering innovative and market leading solutions for mobile network operators continues to be a key part of our interest in the company. Stilmark is an excellent fit for our new Australian digital infrastructure portfolio, as it complements our recent investment in TPG’s mobile tower and rooftop portfolio.”
Stilmark is owned by its founders, management team, family offices and U.S.-based ATN International.
Commenting on the sale, Stilmark Chairman, Graham Bradley, said: “We are delighted that our business will be joining the OMERS Infrastructure portfolio in Australia and are excited about the opportunities this creates for our team to continue our innovation leadership in the tower market.”
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