IHS Holdings Limited, which specialises in the construction and maintenance of towers/masts, has acquired Cell Site Solutions, a Brazilian infrastructure solutions provider.
The acquisition guarantees HIS Holdings’ 100% ownership in the Brazilian infrastructure solutions provider, which has its headquarters in São Paulo.
IHS Holdings acquired the company from “affiliates of Goldman Sachs and Centaurus Capital LP. There was also no mention of the specific amount IHS spent to acquire the company.
In the meantime, the acquisition is still awaiting approvals by regulatory authorities in Brazil. The company said once these approvals are given, the current management and employees of CSS will join IHS.
[READ MORE: 11 Plc to boost revenue with Lagos Continental Hotel’s acquisition)
Sam Darwish, who founded IHS Towers in Lagos back in 2001 and currently serves as its Chairman and Chief Executive Officer, said he is very excited. He further noted that the acquisition of CSS is very strategic.
“I am delighted to announce that through the acquisition of CSS, IHS is expanding its footprint into Latin America. In particular, and as the largest market within this region, Brazil offers an exciting platform enabling us to go deeper into this new geography. Brazil’s topography and compact urban areas, coupled with recent economic upturn, provide favourable macroeconomic factors for 4G and 5G deployment.
“As networks prepare for 5G transition, IHS will be well placed to deliver on these demands following our exceptional 18-year track record globally coupled with the excellent track-record of the CSS management team over the last six years. We are also very excited about providing our vast range of offerings to the markets in Peru and Colombia.”
It should be noted that the acquisition of CSS is part of IHS’s strategic plan to position itself as a leading player in telecoms infrastructure construction and maintenance across the world’s emerging markets. The company currently operates more than 23, 000 towers in Africa, many of which are in Nigeria.