TEN FIGURE FUNDING – Tillman Infrastructure, whose tagline states that it is “engineered to capitalize on the incumbent tower companies outdated business models,” secured $1 billion in financing to develop its disruptive business model further.
Tillman Infrastructure, LLC, a leading provider of wireless communication infrastructure, announced this morning the completion of a financing package totaling $1 billion.
The proceeds will refinance existing loans and provide additional growth capital to support the infrastructure needs of its wireless carrier and wireless infrastructure service provider (WISP) customers.
“The Tillman Infrastructure team continues to deliver industry-leading solutions for our customers,” said Suruchi Ahuja, CEO of Tillman Infrastructure. “We are very pleased to have support to further invest in and grow the business.”
According to a press statement, since its inception in 2016, Tillman Infrastructure has become one of the most prolific tower builders in the U.S. The company owns over two thousand macro tower sites, with several thousand others in development. It is known for its disruptive approach to meeting its customers’ infrastructure needs through nationwide build-to-suit and colocation capabilities. Tillman Infrastructure is a portfolio company of Tillman Global Holdings, a U.S.-based private investment firm that invests in, owns and operates digital and energy infrastructure businesses.
As part of the transaction, a subsidiary of Tillman Infrastructure has entered into a $500 million term loan facility, with a syndicate of lenders arranged by JPMorgan Chase Bank, N.A. and including Crédit Agricole Corporate and Investment Bank, Banco Santander, CoBank ACB, MUFG Bank, Ltd., and Sumitomo Mitsui Banking Corporation. In addition, Tillman Infrastructure has received financing of $500 million from affiliates and managed funds of HPS Investment Partners, LLC, Apollo, and Oak Hill Advisors, L.P.
Sullivan & Cromwell LLP and Ropes & Gray LLP advised Tillman Infrastructure.
This is the second $1 billion funding package that Tillman Infrastructure has obtained. In 2018, the company obtained $1 billion in additional funding from La Caisse de dépôt et placement du Québec (CDPQ) and global investment manager AMP Capital, with an initial investment of $500 million.
