Harmoni Towers to acquire Parallel Infrastructure from Apollo
Transactions - AUGUST 30, 2022

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Harmoni Towers to acquire Parallel Infrastructure from Apollo

by Released

Harmoni Towers, a portfolio company of Palistar Capital LP, an alternative asset manager focused on mission-critical communications infrastructure, has agreed to acquire Parallel Infrastructure, a leading tower platform and build-to-suit provider, from funds managed by affiliates of Apollo Global Management.

Terms were not disclosed. The transaction is subject to customary closing conditions and is expected to be completed in the third quarter of 2022.

The transaction creates the fifth-largest tower company and the second-largest private independent tower company in the United States, with more than 2,000 built and in-construction towers. The combined company will have locations spanning the country from coast to coast across 41 states, with the capacity to build hundreds of towers per year in all regions of the United States.

In 2020, Apollo acquired Parallel through a corporate carve-out transaction via its second flagship infrastructure fund (AIOF II). As pa

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