New York – December 2018 – Tailwind Capital, a middle market private equity firm investing in targeted sectors within healthcare, business services and industrial services, has completed the sale of TowerCo IV to TowerCo V, a newly-formed partnership created by members of the TowerCo management team and Peppertree Capital. Terms of the transaction were not disclosed. In connection with the transaction, the TowerCo team will stay in place and Todd Boyer will become Chief Executive Officer of the company. Todd Boyer had previously served as Chief Development Officer of TowerCo since 2005.
TowerCo IV represents the fourth time that Tailwind has successfully partnered with the TowerCo management team, spanning a period of almost 15 years. Tailwind’s funds and limited partner co-investors have together invested over $425 million in the TowerCo investments. In aggregate, across these four investments, the TowerCo management team assembled portfolios that totaled over 4,300 towers through a combination of acquisitions and new builds.
Richard Byrne, former Chief Executive Officer of TowerCo, commented, “We’d like to thank Tailwind for such a rewarding partnership. With their support, we have been able to successfully execute our tower build-up strategy for nearly 15 years. We look forward to TowerCo’s next stage of growth.”
Adam Stulberger, Partner at Tailwind, added, “We are thrilled with the outcome of this transaction. It has been a privilege to partner with TowerCo and be part of four successful investments. We want to thank the TowerCo team for their hard work and dedication.”
TowerCo IV develops and owns wireless communications towers and leases the towers' capacity to communications service providers. In addition to leasing towers, the company also markets and manages third-party towers for regional carriers.
About Tailwind Capital:
Tailwind Capital is a middle market private equity firm focused on growth-oriented investments in targeted sectors within healthcare, business services and industrial services. Tailwind partners with experienced management teams and entrepreneurs to transform businesses through organic growth initiatives, acquisitions, and operational and strategic investments. Since inception, Tailwind has managed $3.6 billion of committed equity capital, and has invested in 39 portfolio companies and over 85 add-on acquisitions.
About Peppertree Capital:
Peppertree Capital Management, Inc. is a private equity firm focused on making investments in growing communication infrastructure companies, both in the United States and internationally. Peppertree was formed in 2004 and is currently investing out of its seventh private equity fund and an evergreen debt fund. Peppertree has more than $1 billion under management and has made more than 75 investments in communication infrastructure companies in 10 countries.