Houlihan Lokey Advises Public Safety Tower Company

Houlihan Lokey is pleased to announce that Public Safety Towers, LLC, has received a growth equity investment of $50 million from InfraRed Capital Partners, a highly successful developer and custodian of core infrastructure, renewable energy, and real estate assets. The transaction closed on January 31, 2022.

Public Safety Towers (PSTC) will construct new telecommunication towers in areas that are currently underserved. InfraRed is allocating approximately $50 million to PSTC for the initial rollout but expects to deploy more capital over time as the tower build program expands. Headquartered in Carlsbad, California, PSTC aims to provide better and more reliable wireless cellular coverage to serve the community at large, including first responders such as firefighters, law enforcement, and emergency medics who rely on connectivity to perform critical jobs.

InfraRed is an international investment manager, investing in infrastructure that contributes positively to society and supports the transition to a net zero future. It operates worldwide from offices in London, New York, Sydney, and Seoul. With around 165 professionals, it manages in excess of US$10 billion of equity capital in multiple private and listed funds, primarily for institutional investors across the globe. InfraRed is a part of SLC Management, the institutional alternatives and traditional asset management business of Sun Life.

Houlihan Lokey served as the exclusive financial advisor and assisted in marketing, structuring, and negotiating the transaction on behalf of PSTC. This deal exemplifies the continued success of Houlihan Lokey’s dedicated coverage of the cell tower, wireless communication, and telecommunication sectors.