The leading telecommunications infrastructure company expands its presence in Germany
BOCA RATON, Fla., Oct. 11, 2023 /PRNewswire/ -- Phoenix Tower International ("PTI"), a leading global provider of wireless communications infrastructure, is pleased to announce the signing of a definitive agreement with NOVEC BV (" NOVEC") to acquire NOVEC GmbH, its German subsidiary. NOVEC GmbH currently operates 220 telecommunications sites and has developed a significant portfolio of new sites to play a key role in the deployment of important infrastructure for mobile operators in Germany.
This strategic acquisition marks an important milestone for Phoenix Tower International in its entry into the German telecommunications market. With this expansion, PTI reaffirms its commitment to supporting mobile network operators globally to meet their coverage obligations and provide high-quality mobile services.
NOVEC GmbH has a proven track record of excellence in implementing telecommunications sites and this acquisition presents an exciting opportunity for PTI to collaborate with the talented individuals on the NOVEC team. By leveraging its expertise, PTI aims to enhance its service offering, optimize operations and continue to deliver exceptional value to its clients.
Commenting on this development, Dagan Kasavana, CEO of Phoenix Tower International, said: "Germany is an important global market with significant near-term wireless development needs, especially in more rural locations where coverage does not exist today and where the NOVEC team specializes in coverage solutions. This transaction aligns perfectly with our growth strategy and underscores our commitment to providing world-class wireless infrastructure solutions to help our business partners achieve their goals. We look forward to working closely with the team of NOVEC, German mobile network operators and the local population to contribute to the advancement of telecommunications services and connectivity in Germany."
Gertjan Hoefman, CEO of NOVEC, commented: "NOVEC is pleased to announce that we have found in PTI a strong strategic investor who can support NOVEC GmbH in its growth ambitions in Germany."
The transaction is subject to customary regulatory approvals and is expected to be completed in the coming months.
CMS Hasche Sigle, Van Lanschot Kempen and Unicredit acted as advisors to PTI.
ABN AMRO, CASE Corporate Finance and Gleiss Lutz acted as advisors to NOVEC.
Acerca de Phoenix Tower International
PTI, through its subsidiaries, will pro forma for these transactions, own and operate more than 23,000 telecommunications towers throughout Europe, the United States, Latin America and the Caribbean. In Europe, PTI is present in several countries, including France, Italy, Ireland, Malta and Cyprus.
PTI was founded in 2013 with the mission to be a premier site provider for wireless operators around the world in high-growth markets. PTI's investors include funds managed by Blackstone, Wren House and several members of the management team and is based in Boca Raton, Florida. For more information visit www.phoenixintnl.com
About NOVEC
Founded in 2005, NOVEC is the largest independent telecommunications infrastructure provider in the Netherlands. Its main objective lies in the construction, management and maintenance of a comprehensive network of telecommunications towers and associated infrastructure throughout the Netherlands. Its mission is to create a shared and accessible infrastructure for multiple users, from mobile network operators to emergency services and IoT networks. NOVEC is proud to offer its customers an extensive nationwide network of telecommunications towers and high voltage towers, which form the solid backbone of mobile communications networks. For more information visit www.novecmasten.com
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