Grupo Torresur (GTS), a pioneer in developing the independent telecommunications tower market in Brazil, has signed an agreement to sell one of its portfolio companies, Sao Paulo Cinco Locação de Torres (SP5), to IHS Holding for US$315 million.
Pro forma for the closing of this transaction, GTS will own and operate approximately 2,800 towers in Brazil through Sao Paulo Locacao de Torres (SPT).
Established in 2011 through sale-leaseback transactions with Vivo and Telefonica, SPT represents the original GTS platform and remains well positioned to continue to capitalize on the attractive growth opportunities in Brazil.
GTS is a leading owner and operator of telecommunications infrastructure in Brazil with more than 2,800 towers. As a pioneer in the tower market in Brazil, GTS has acquired more than 6,000 towers and divested more than 3,000 towers after creating proven businesses with long track records of strong organic growth. GTS was founded by tower industry veteran Jimmy Eisenstein and his team and Providence.
Jimmy Eisenstein, GTS Chairman and CEO
The sale of our SP5 portfolio represents the culmination of our strategy to create an important infrastructure business focusing on historically underserved regions of Brazil. Since our acquisition, our team has driven strong organic revenue growth, proving the critical role of SP5 to the market.
Michael Gray, Managing Director representing Providence Equity Partners
We are proud of all that GTS’s outstanding management and employees have accomplished since we made our first investment in 2010, during the early stages of the independent tower market in Brazil. We believe the GTS team has created an exceptional business with tremendous long-term value and industry-leading operating results.
