Apollo Global Management Buys US Telecoms Platform from LendLease
Posted on 10/15/2020
Apollo Global Management, Inc., through certain funds, acquired from Lendlease Group a U.S. telecommunications platform, including a portfolio of operating cell towers and a pipeline of contracted towers under development. The acquired company will rebrand itself as Parallel Infrastructure, the same name it held prior to being acquired by Lendlease in May 2017. Parallel Infrastructure will be led by CEO Yannis Macheras and its management team from its headquarters in Charlotte, North Carolina.
Lendlease bought Parallel Infrastructure from Florida East Coast Industries in 2017.
J.P. Morgan acted as financial advisor and Weil, Gotshal & Manges as legal advisor to Apollo Funds.
Morgan Stanley & Co. LLC acted as financial advisor and Paul, Weiss, Rifkind, Wharton & Garrison LLP as legal advisor to Lendlease.