IHS Towers has acquired Cell Site Solutions, a Brazilian infrastructure solutions provider.
The Nigeria company predominately specializes in the construction and maintenance of towers/masts.
IHS Holdings acquired the company through its partnership with Goldman Sachs and Centaurus Capital LP. This move guarantees IHS Holdings 100% stake/ownership in the Brazilian infrastructure solutions provider, which has its headquarters in São Paulo.
However, the exact amount that the firm Cell Site Solution was acquired by HIS Holdings was not officially disclosed.
The acquisition is still awaiting approvals by regulatory authorities in Brazil and according to report, once this approval has been granted, the current management and employees of Cell Site Solutions will join HIS Holdings.
The company IHS Towers was founded in Lagos in the year 2001 by Sam Darwish, who still currently serves as its Chairman and Chief Executive Officer.
He stated, “I am delighted to announce that through the acquisition of Cell Site Solution, IHS Holdings is expanding its footprint into Latin America and charting a new course.
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In particular, and as the largest market within this region, Brazil offers an exciting platform enabling us to go deeper into this new geography.
Brazil’s topography and compact urban areas, coupled with the recent economic upturn, provide favorable macro-economic factors for 4G and 5G deployment.
He further stressed that “As networks prepare for 5G transition, IHS Holdings will position itself to deliver on these demands following our exceptional 18-year track record globally coupled with the excellent track-record of the Cell Site Solution management team over the last six years.
We are also very excited about providing our vast range of offerings to the markets in Peru and Colombia.” Mr. Darwish concluded.
The move to acquire Cell Site Solution is part of IHS’s strategic plan to position itself as a leading player in telecoms infrastructure construction and maintenance across the world’s emerging markets.
The company has spread its tentacles and currently operates more than 23, 000 towers in Africa, many of which are predominately based in Nigeria.
Featured Image: pmnewsnigeria
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