HTN Towers, the telecommunications tower company backed by Africa-focused private equity firm Helios Investment Partners, has boosted its tower portfolio by 58% by striking a management services and co-location agreement with SWAP Technologies and Telecomms. The deal secures HTN’s rights to manage up to 702 sites owned by SWAP in Lagos, Abuja and 32 other states in Nigeria.
HTN Towers has commenced operations on the first 100 SWAP sites and will take over management of the remaining sites in a phased manner, pending receipt of customer consents. As the remaining sites are taken over for management, HTN Towers will refurbish them to its standards, with a view to offering such sites for co-location in the future.
HTN Towers will contract directly with SWAP’s customers under the terms set forth in its existing customer tenancy agreements and earn additional revenues from co-locating new customers onto the SWAP towers.
Upon completion of the transfer of the towers, HTN Towers will own or manage up to 1,905 towers.