News Ticker

Investec makes follow-on investment in IHS Towers

Having been IHS Towers’ first private equity investor in 2011, Investec Asset Management is backing the company again–injecting a fresh round of equity capital into the African mobile telecommunications infrastructure provider.  The latest infusion of capital will be used by IHS to acquire, build and integrate new towers as well as drive growth on its existing tower base.  Financial terms of the deal were not disclosed.

In its original investment in mid-2011, Investec teamed up with development finance institutions IFC and FMO to invest an initial $79 million in IHS. The phone tower company went on to raise $522 million is debt and equity from a slew of new and existing international investors July 2014. The company has seen dramatic growth over the last four years, expanding from leasing space on approximately 300 towers in Nigeria in 2011 to leasing space on approximately 23,000 towers in 5 African countries today.

Other private capital investors participating in prior rounds in IHS include African Infrastructure Investment Managers, Emerging Capital Partners, Goldman Sachs and Wendel. Investec’s Mark Jennings has a seat on the company’s board.

Leave a comment

Your email address will not be published.


*