M&A Deal Summary

DigitalBridge Group Acquires Landmark Dividend

On May 17, 2021, infrastructure investor DigitalBridge Group acquired infrastructure company Landmark Dividend from American Infrastructure Funds for 972M USD

Acquisition Highlights
  • This is DigitalBridge Group’s 2nd transaction in the Infrastructure sector.
  • This is DigitalBridge Group’s 2nd largest (disclosed) transaction.
  • This is DigitalBridge Group’s 6th transaction in the United States.
  • This is DigitalBridge Group’s 3rd transaction in California.

M&A Deal Summary

Date 2021-05-17
Target Landmark Dividend
Sector Infrastructure
Buyer(s) DigitalBridge Group
Sellers(s) American Infrastructure Funds
Deal Type Secondary Buyout
Deal Value 972M USD
Advisor(s) RBC Capital Markets (Financial)
Latham & Watkins (Legal)

Target

Landmark Dividend

El Segundo, California, United States
website
Landmark Dividend is an aggregator of ground leases under essential micro-infrastructure such as cell towers and billboards. Landmark’s management team pioneered the ground lease acquisition business in 2002 and has successfully closed over 4,000 transactions. Landmark offers payments to property owners in exchange for long-term ground leases and real property easements.

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Buyer(S) 1

DESCRIPTION
DigitalBridge's headquarters in Boca Raton, Florida.
DigitalBridge's headquarters in Boca Raton, Florida.

DigitalBridge Group is a global digital infrastructure investment firm. The Firm looks to acquire a variety of assets and operating businesses spanning cell towers, data centers, fiber, small cells, and edge infrastructure. DigitalBridge is headquartered in Boca Raton, Florida.


DEAL STATS #
Overall 10 of 12
Sector (Infrastructure) 2 of 3
Type (Secondary Buyout) 3 of 4
State (California) 3 of 3
Country (United States) 6 of 7
Year (2021) 2 of 3
Size (of disclosed) 2 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2021-03-01 Boingo Wireless

Los Angeles, California, United States

Boingo Wireless, Inc. is a global network of wireless access points that provide high-speed, high-bandwidth wireless connectivity to smartphones, tablets, laptops, wearables, the Internet of Things, and other wireless-enabled devices. Boingo Wireless was founded in 2001 and is based in Los Angeles, California.

Buy $854M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2021-08-10 Vertical Bridge

Boca Raton, Florida, United States

Vertical Bridge is an owner and manager of wireless communications infrastructure. Vertical Bridge owns, operates and master leases over 266,000 towers, rooftop, billboard, utility attachment, and other site locations in support of wireless network deployments.

Buy -

Seller(S) 1

SELLER

American Infrastructure Funds

Foster City, California, United States

Investor Investor Investor Investor Investor

website


Category Infrastructure
Founded 2006
Size Large
Type Sector Focused
DESCRIPTION

American Infrastructure MLP Fund is a specialist private equity group focused on natural resources and real property businesses. American looks for businesses with steady, recurring cash-flows. Specific areas of interest include oil/gas exploration, minerals/mining, forest products, fertilizers, private and publicly owned real estate assets, and any other businesses that generate stable, after tax cash-flows that can be distributed. American Infrastructure MLP was founded in 2006 and is based in Foster City, California.


DEAL STATS #
Overall 4 of 4
Sector (Infrastructure) 2 of 2
Type (Secondary Buyout) 2 of 2
State (California) 1 of 1
Country (United States) 4 of 4
Year (2021) 1 of 1
Size (of disclosed) 1 of 1
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2020-11-01 Empire Petroleum Partners

Dallas, Texas, United States

Empire Petroleum Partners LLC is a motor fuel distributor across the Mid-Atlantic, Southeastern, and Southwestern U.S., with more than 1,100 customers across 27 states from Delaware to California. Empire distributes every major brand, including BP, Chevron, Citgo, Exxon, Getty/Lukoil, Gulf, Marathon, Mobil, Shell, Sunoco, Texaco, and Valero. Empire Petroleum Partners is based in Dallas, Texas.

Sell -