Torres Unidas Announces Acquisition of Chilean Tower Portfolio

SANTIAGO, Chile--()--Torres Unidas, a leading independent owner and operator of communication towers in South America, today announced that it has acquired a portfolio of over 400 wireless towers in Chile from Telefónica Moviles S.A. Terms of the transaction were not disclosed.

Torres Unidas actively seeks to build its wireless tower portfolio in South America, with a particular focus on the Andean region, by acquiring new towers and constructing new sites. Earlier this year, the company acquired 350 tower sites in Peru. In addition, the company constructs and operates wireless infrastructure through build-to-suit agreements with leading carriers in the region.

“Our goal is to partner with wireless carriers, providing critical infrastructure solutions that allow carriers to deploy their networks on an accelerated basis, while minimizing visual and environmental impact,” said Daniel Seiner, CEO of Torres Unidas Management Co. “We are excited to build upon our existing footprint with such a strategic portfolio of towers.”

About Torres Unidas

Torres Unidas is a leading independent owner and operator of communication towers in South America. The company leases space on its towers to telecommunication carriers and other wireless technology operators and allows multiple operators to collocate on a single tower, helping carriers to expand their network rapidly while reducing the need for additional towers in the same location. With the goal of being a socially and environmentally responsible partner, Torres Unidas works together with carriers and local communities to contribute to the development of the telecommunications sector in South America. Torres Unidas is a portfolio company of Berkshire Partners LLC. For additional information, visit www.torresunidas.com.

About Berkshire Partners LLC

Berkshire Partners, the Boston-based investment firm, has invested in over 100 middle market companies since 1986 through eight investment funds with aggregate capital commitments of over $11 billion. Berkshire has developed specific industry experience in several areas including communications, consumer products and retail, business services, industrial manufacturing and transportation. Berkshire's current communications investments include Tower Development Corporation (TDC) and The Telx Group. Berkshire has a strong history of partnering with management teams to grow the companies in which we invest with the goal of consistently achieving superior investment returns. The firm seeks to invest $50 million to $500 million of equity capital in each portfolio company. For additional information, visit www.berkshirepartners.com.

Contacts

Torres Unidas
Denise Barry, +1-954-315-5370
dbarry@torresunidas.com
or
Berkshire Partners LLC
Katie Bush, +1-617-227-0050
kbush@berkshirepartners.com

Release Summary

Torres Unidas, a leading independent owner and operator of communication towers in South America, has acquired a portfolio of over 400 wireless towers in Chile from Telefónica Moviles S.A.

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Contacts

Torres Unidas
Denise Barry, +1-954-315-5370
dbarry@torresunidas.com
or
Berkshire Partners LLC
Katie Bush, +1-617-227-0050
kbush@berkshirepartners.com