Tillman Infrastructure (“TI”) is a rapidly growing cellular tower and telecom infrastructure company, which owns and builds assets across the United States. As evidenced by its recent breakthrough joint tower development agreement with AT&T and Verizon, Tillman provides both the financial capability and operational expertise to rapidly build and manage many thousands of sites nationwide. Tillman Infrastructure is a subsidiary of Tillman Global Holdings (“TGH”). Founded by Sanjiv Ahuja, Tillman Global Holdings is a holding company focused on building businesses with long-term value. The firm invests in and manages telecommunications towers, small cells and smart city businesses in both developed and emerging markets.
MONTREAL and NEW YORK, July 23, 2018 /PRNewswire/ - La Caisse de dépôt et placement du Québec ("CDPQ"), one of North America's largest institutional investors, and global investment manager AMP Capital announce that they will provide US$500 million of financing to Tillman Infrastructure ("Tillman"), an American developer and owner of telecommunication tower infrastructure. This initial investment will help finance the construction of new telecommunications towers across the United States. These new structures will satisfy demand for coverage in additional locations, provide new service opportunities for carriers, and increase the overall communications infrastructure in the U.S. Under this agreement, the investment could eventually reach up to US$1 billion based on future growth needs.
Founded in 2016 and based in New York, Tillman builds, owns and operates a portfolio of cell towers, which are core infrastructure assets used by wireless carriers to relay their cellular signals to mobile subscribers. Tillman began construction on its first sites in late 2017 and is actively building in over three dozen states across the U.S.
In the next few years, mobile service providers plan on spending 15 to 20% of their revenue on capital expenditure to meet the growing demand from consumers and to cater to ever-increasing mobile data traffic. This represents approximately US$40 billion in yearly investment. M&A activity within the sector is expected to increase the expenditure of telecom companies looking to capture the significant potential of 5G and the data market.
Marc Cormier, Executive Vice-President, Fixed Income at CDPQ, said: "With Tillman's strong leadership and seasoned experts, along with our partner AMP Capital, we look forward to contributing to Tillman's great potential. It has a competitive product that delivers coast-to-coast speed and efficiency. The company will only continue to benefit from a growing demand for data that will drive mobile infrastructure spending and development for years to come."
AMP Capital Infrastructure Debt Partner Patrick Trears said: "With the investment in Tillman, we are pleased to add another terrific asset to the portfolio for our investors around the world. We see strong value in the North American telecommunications infrastructure market and expect it will be a driver of future growth for our platform. The proliferation of data globally will see an increasing demand for telecommunication infrastructure and Tillman is well-positioned to capitalise on the growth opportunity. The transaction marks the second investment in telecommunications infrastructure in the region since the close of AMP Capital's Infrastructure Debt Fund III last year and highlights the strength of our partnerships with leading institutional investors like CDPQ."
Tillman Infrastructure Chief Financial Officer, Suruchi Ahuja said: "We are excited to have found great partners in CDPQ and AMP Capital to fuel the next stage of our aggressive growth plans. We are committed to continue to be the carrier friendly and carrier preferred infrastructure provider, and a true partner to our customers as they focus on expanding their coverage and capacity across the nation."
Q Advisors, a global TMT investment banking boutique, acted as the exclusive financial advisor to Tillman.
NEW YORK, Nov. 13, 2017 /PRNewswire/ -- AT&T*, Verizon and Tillman Infrastructure have entered into a joint agreement to build hundreds of cell towers, with the potential for significantly more new site locations in the future. Tillman, owner and operator of towers, small cells and smart cities infrastructure, has agreed to construct these towers to-suit with AT&T and Verizon, which have committed to leasing and co-anchoring the co-located towers.
These new structures will add to the overall communications infrastructure in the US, and will fulfill the need for new locations where towers do not exist today. They also will serve as opportunities for the carriers to relocate equipment from current towers.
"We continue to focus on technology innovation and investing in the latest software platforms to provide the best possible customer experience on our network," said Nicola Palmer, Chief Network Officer for Verizon Wireless. "At the same time, it is imperative to reduce operating costs. We are reviewing all of our long-term contracts as they come up for renewal and we are excited to develop new vendor partners to diversify our infrastructure providers."
"We need more alternatives to the traditional tower leasing model with the large incumbents. It's not cost-effective or sustainable. We're creating a diverse community of suppliers and tower companies who will help increase market competition while reducing our overhead," said Susan Johnson, SVP of Global Supply Chain, AT&T. "We look forward to working with Verizon as we establish site locations and sign new lease agreements with additional suppliers in the coming years."
"Tillman is excited about the opportunity to work with AT&T and Verizon in order to further develop the cell tower model of the future," said Suruchi Ahuja, CFO of Tillman Infrastructure. "Over the past year we have built a strong team at Tillman and are committed to rapidly building a leader in wireless infrastructure in the U.S. in order to best serve carriers and the broader communities in which we will enable connectivity."
Construction plans on the first towers will begin in the first quarter of 2018 and as those sites are completed, network engineers will begin installing equipment and turning the sites up quickly.
WHAT WE OFFER:
Tillman offers the chance to make a positive impact. We can achieve this when we bring together the brightest, most innovative and passionate individuals. Join us on our journey.
To be the carrier trusted, carrier friendly tower operator. We are the “easy to do business with” tower company by offering never done before, ingenious ways to accomplish the many tasks at hand.
We strive to meet our goals with great energy, passion and enthusiasm. We seek to innovate and improve ourselves while creating an environment where we embrace challenges.
We persevere and are courageous in our attempt to make a difference in our industry. We strive to show our determination in doing the little things better each and every day. – less