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Peppertree Capital Mergers and Acquisitions Summary

Private Equity Firm Profile

Peppertree Capital’s most common sectors for investment aretechnology hardware (32%) and communications (32%) . The Firm’s most common investment types include growth capital (58%) and buyout (lbo, mbo, mbi) (32%). In total, Peppertree Capital has invested in 14 US states. Its largest (disclosed) acquisition occurred in 2013 when it acquired Lightower Fiber Networks for $2.0B.

The Firm’s most common exit type is trade sale (60%). Peppertree Capital’s largest (disclosed) exit occurred in 2017 when it sold Lightower Fiber Networks for $7.1B.

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M&A Summary

  • M&A Total Activity29
    • M&A Buy Activity19
    • M&A Sell Activity10
  • Total Sectors Invested 8
  • Total Countries Invested 1
  • M&A Buy/Sell Connections 20

Peppertree Capital

Peppertree Capital Management, Inc.

57 E. Washington Street,
Chagrin Falls, Ohio 44022
United States
(440) 528-0333
www.peppertreecapital.com
info@peppertreecapital.com

Peppertree Capital is a private equity firm that targets investments in mid to large-sized wireless telecommunication infrastructure companies. Peppertree focuses on growing companies with recurring, predictable cash-flows, and led by management with proven track records. Specific areas of interest include communication rooftop developers, fiber network operators, and related real estate projects. Target transaction types include buyouts, recapitalizations and growth capital financings. Peppertree Capital was formed in 2003 and is based in Chagrin Falls, Ohio.


Investment Criteria

Sectors of Interest: Business Services, Communications, Financial Services, Infrastructure, Media, Software, Staffing, Technology Hardware

Target Transaction Types: Buyout (LBO, MBO, MBI), Growth Capital, Recapitalization

Geographic Preferences: East US, Midwest US, South US, West US

Transaction Criteria Min Max
Target Revenue - -
Target EBITDA - -
Investment Size - -
Enterprise Value - -

M&A Summary

Buy vs Sell

Year ≤ '20 '21 '22 '23 '24 '25 T
Buy (0.0/yr) # 19 - - - - - 19
vol $2.0B $2.0B
Sell (0.0/yr) # 10 - - - - - 10
vol $12.3B $12.3B
  29

Most Recent M&A

Company Date Value Type
TowerCo LLC 2018-12-14 - Secondary Buyout
Cary, North Carolina · www.towerco.com
Lightower Fiber Networks LLC 2017-07-18 7.1B USD Trade Sale
Boxborough, Massachusetts · www.lightower.com
AC Lordi Corp. 2013-07-10 - Sold to Management
Malvern, Pennsylvania · www.aclordi.com
Lightower Fiber Networks LLC 2013-04-11 2.0B USD Recapitalization
Boxborough, Massachusetts · www.lightower.com
Pegasus Tower Development Co. LLC 2012-12-04 - Trade Sale
Tazewell, Virginia · www.pegasustower.com
TMW Systems, Inc. 2012-08-27 335M USD Trade Sale
Mayfield Heights, Ohio · www.tmwsystems.com
Branch Towers LLC 2012-02-09 - Growth Capital
Tulsa, Oklahoma · www.branchcomm.net
RG Towers LLC 2012-01-09 - Growth Capital
Jupiter, Florida · www.rgtowers.com
1 Source Wireless LLC 2011-12-13 - Growth Capital
Tampa, Florida · www.1sourcetowers.com
AW Towers LLC 2011-10-31 - Growth Capital
Longwood, Florida · www.awtowers.com
View All >>

M&A by Sector

Sector Current # Value All-time # Value
Communications 1 (20%) - 6 (32%) 2.0B (99%)
Technology Hardware 3 (60%) - 6 (32%) -
Business Services - - 2 (11%) -
Staffing - - 1 (5%) 26M (1%)
Financial Services - - 1 (5%) -
Infrastructure 1 (20%) - 1 (5%) -
Media - - 1 (5%) -
Software - - 1 (5%) -
Total 5 - 19 $2.0B

Acquisitions By Geo

State/Country Current # Value All-time # Value
United States 5 (100%) - 19 (100%) 2.0B (100%)
  Florida - - 3 (16%) -
  New Jersey 1 (20%) - 2 (11%) -
  Pennsylvania - - 2 (11%) 26M (1%)
  Ohio - - 2 (11%) -
  Oklahoma 1 (20%) - 1 (5%) -
  North Carolina 1 (20%) - 1 (5%) -
  New York 1 (20%) - 1 (5%) -
  Indiana 1 (20%) - 1 (5%) -
  Massachusetts - - 1 (5%) 2.0B (98%)
  Virginia - - 1 (5%) 20M (1%)
  Texas - - 1 (5%) -
  Michigan - - 1 (5%) -
  Illinois - - 1 (5%) -
  California - - 1 (5%) -
Total 5 - 19 $2.0B

Acquisitions by Deal Type

Type Current # Value All-time # Value
Growth Capital 4 (80%) - 11 (58%) -
Buyout (LBO, MBO, MBI) - - 6 (32%) 46M (2%)
Recapitalization - - 1 (5%) 2.0B (98%)
Secondary Buyout 1 (20%) - 1 (5%) -
Total 5 - 19 $2.0B

Exits by Deal Type

Type Total # Value
Trade Sale - Public Company 5 (50%) 12.3B (100%)
IPO 2 (20%) -
Secondary Sale 1 (10%) -
Sold to Management 1 (10%) -
Trade Sale 1 (10%) -
Total 10 $12.3B

Deal Values

buy # Total
> $1B 1 $2.0B
< $100M 2 $46M
TOTAL $2.0B
Largest Lightower Fiber Networks LLC
$2.0B (2013-04-11)
sell # Total
> $1B 2 $11.4B
$100M to $1B 2 $945M
TOTAL $12.3B
Largest Lightower Fiber Networks LLC
$7.1B (2017-07-18)

M&A Connections

Deals
Acquired from
Investor(s)
5%
1 (5%)
Exited to
Investor(s)
10%
1 (10%)
Strategic(s)
60%
6 (60%)

Investor Summary

Investor Type

Private Equity Firm

Size

Mega

PE Assets

600M USD

Established

2003

Specialist/Generalist

Specialist

Leadership

F. Howard Mandel

Co-President

Ryan Lepene

Co-President

Arnoud Krijt

Managing Director

Daniel Weiser

Managing Director

John Ranieri

Managing Director

FAQ

When was Peppertree Capital founded?

Peppertree Capital was founded in 2003.

What type of investor is Peppertree Capital?

Peppertree Capital is a private equity firm.

Where is Peppertree Capital headquartered?

Peppertree Capital is headquartered in Chagrin Falls, Ohio.

How much capital does Peppertree Capital have under management?

Peppertree Capital has 600M USD under management.

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