HPS Investment Partners makes strategic investment in Tillman’s digital cities to accelerate the deployment of connectivity solutions in buildings
NEW YORK–(COMMERCIAL THREAD) – HPS Investment Partners (“HPS”), a leading global investment firm, has made a strategic investment in Tillman Digital Cities (“TDC” or the “Company”), a leading developer and owner of Connectivity Infrastructure in Buildings and Solutions across the United States. TDC is a holding company of Tillman Global Holdings (“TGH”), a global holding company focused on long-term value. This investment from HPS allows TDC to continue to expand its disruptive business model and further accelerate its growth plans to deploy thousands of sites over the next few years.
Founded in 2020 and based in New York City, TDC is a one-stop-shop provider for in-building connectivity and ‘network as a service’ infrastructure. The Company works directly with all constituents, including mobile network operators, property owners and corporate clients, to design, install, optimize and maintain building networks and infrastructure.
Garrett Cockren, Managing Director of HPS, said: “TDC is a rapidly growing leader in the telecommunications infrastructure industry which has continued to strategically develop its business. We have full confidence in the market opportunity to further improve connectivity in buildings and look forward to providing TDC and TGH with the necessary support to help drive the next phase of the company’s growth.
TGH Managing Director Sachit Ahuja said: “We are delighted to have our arms locked with HPS. They believe in our vision for TDC and see the vast opportunity ahead. Tillman remains true to its owner-operator model and believes that our future lies in a partnership-based approach with our customers in the area of communications infrastructure.
“This transaction marks an exciting milestone for TDC as we develop the first in-building connectivity platform,” said SherAfgan Mehboob, CFO and Head of Corporate Development, TDC. “Carriers and real estate operators are looking for real partners to address large gaps in coverage and capacity. The space in the building is considerably under-penetrated as a large majority of the development has focused on the macro-grid or on reputable sites. We are re-developing these business models. ”
TAP Securities LLC acted as exclusive advisers to TDC. Sullivan & Cromwell LLP acted as legal counsel to TDC, and Latham & Watkins LLP acted as legal counsel to HPS.
About Tillman’s Digital Cities
Tillman Digital Cities is a rapidly growing telecommunications infrastructure company that provides a one-stop shop for in-building connectivity and “network as a service” solutions. TDC designs, finances, builds and operates indoor networks and infrastructure across the United States for major operators and site owners. Tillman Digital Cities is a holding company of Tillman Global Holdings, a global holding company focused on long-term value.
About HPS Investment Partners
HPS Investment Partners is a leading global investment firm focused on providing creative capital solutions and generating attractive risk-adjusted returns for our clients. We manage a variety of strategies across the capital structure including syndicated leveraged loans and high yield bonds, senior debt and privately traded mezzanine investments, asset-backed leasing and private equity. The scale and breadth of our platform provides the flexibility to invest in businesses large and small, through standard or custom solutions. Basically, we share a common thread of intellectual rigor and discipline that allows us to create value for our clients, who entrusted us with approximately $ 75 billion in assets under management in September 2021. For more information , please visit www.hpspartners.com.