Simpson Thacher is representing funds managed by Blackstone Infrastructure Partners in connection with the acquisition of a 35% stake in Phoenix Tower International (PTI), a leading private cell tower platform in the Americas and Europe, from Manulife Investment Management. Financial terms of the transaction were not disclosed.
Founded in 2013, Phoenix Tower International operates over 14,000 cell towers across 18 countries. PTI owns and operates high quality wireless infrastructure sites in markets experiencing strong wireless usage growth around the world. PTI’s expansion is focused throughout the Americas and Europe.
The Simpson Thacher team includes Anthony Vernace, Michael Chao and Izaak Lustgarten (M&A); Gregory Grogan and Gary Tashjian (Executive Compensation and Employee Benefits); Jonathan Goldstein and Dmitry Zelik (Tax); Rick Jamgochian (Antitrust); Parker Kelsey and Philip Lee (Funds); Brian Gluck and Andrea Valdes (Credit); Adeeb Fadil and Noreen Lavan (Environmental); and Lori Lesser and Melanie Jolson (Intellectual Property).