KUALA LUMPUR, June 23 (Bernama) -- OMERS Infrastructure announced that OMERS has signed an agreement to acquire Stilmark, an independent Australian developer, owner and operator of mobile tower assets.
The transaction will be OMERS second tower investment in Australia in two months, following the announcement on May 9, that it signed an agreement to acquire 100 per cent of TPG Telecom Limited’s mobile tower and rooftop portfolio.
The details of this transaction are not being disclosed. The closing of the transaction is expected in Q3 2022, subject to customary regulatory approvals, according to a statement.
Christopher Curtain, Senior Managing Director, Asia-Pacific for OMERS Infrastructure said: “We have developed a strong relationship with and respect for the Stilmark management team and their capabilities.
“Stilmark is an excellent fit for our new Australian digital infrastructure portfolio, as it complements our recent investment in TPG’s mobile tower and rooftop portfolio.”
Meanwhile, commenting on the sale, Stilmark Chairman, Graham Bradley said: “We are delighted that our business will be joining the OMERS Infrastructure portfolio in Australia and are excited about the opportunities this creates for our team to continue our innovation leadership in the tower market.”
Since its establishment in 2013, Stilmark has delivered numerous development and build projects for TPG and Optus, and has grown a national portfolio and pipeline of towers, with all sites secured under long-term revenue agreements.
Stilmark is currently owned by its founders, management team, family offices and US-based ATN International.
Once the Stilmark and TPG tower asset transactions close, the consolidated towers business will be part of OMERS Infrastructure’s growing portfolio of assets in Australia, alongside Port of Melbourne, Transgrid and renewable energy firm FRV Australia.
It will also be part of OMERS Infrastructure’s global portfolio of digital infrastructure assets, alongside Deutsche Glasfaser/inexio in Germany, and XP Fibre in France.
More details at www.omersinfrastructure.com.
-- BERNAMA
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