Monroe Capital Opportunistic Private Credit Group, Oak Hill Advisors and Barclays Bank, PLC support vertical bridge and eco-site merger and future development of custom-built towers
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CHICAGO & NEW YORK – (BUSINESS WIRE) – Monroe Capital LLC (“Monroe”), Oak Hill Advisors LP (“OHA”) and Barclays Bank, PLC (“Barclays”), acting as administrative agent, announced today the closing of a $ 325.0 million credit facility to support the merger of Vertical Bridge REIT, LLC (“Vertical Bridge”) with Eco-Site, LLC (“Eco-Site”) and future development of the combined company at custom-built sites across the country.
Based in Boca Raton, Florida, Vertical Bridge is the largest private owner and operator of communications infrastructure in the country. The Eco-Site merger increases Vertical Bridge’s portfolio of towers owned and leased by the master to more than 20,000 sites and its entire portfolio to more than 307,000 sites located in the 50 states and Puerto Rico. Together, Vertical Bridge and Eco-Site lead the custom construction market with more than 1,700 towers built over the past five years.
“We appreciate the efforts of Monroe, OHA and Barclays to close a complex transaction in an accelerated time frame,” said Mike Romaniw, Chief Financial Officer of Vertical Bridge. “The loan group was able to mobilize quickly with its sectoral and structuring expertise to complete the transaction.”
“We are delighted to partner with Vertical Bridge as the owner and operator of world-class communications towers, and look forward to supporting its continued growth and leading custom build program,” said Ted Koenig, President and CEO from the direction of Monroe.
“We are also pleased to partner with Oak Hill and Barclays as co-lenders on this transaction,” said Kyle Asher, co-director of the opportunistic credit group at Monroe. “While many competitors have been affected by COVID, our opportunistic private lending group has continued to identify and exploit opportunities in niche, specialty areas such as real estate, specialty finance and litigation finance.”
“We are happy to partner with Vertical Bridge and are delighted to grow our relationship with their impressive team,” said Greg Leveto, Portfolio Manager, OHA. “This transaction highlights OHA’s expertise in providing unique and flexible financing solutions in the private credit and real asset markets. We look forward to expanding our relationships with high quality communications infrastructure companies like Vertical Bridge as we continue to take advantage of market developments. ”
About Monroe Capital
Monroe Capital LLC (“Monroe”) is a leading asset management company specializing in the private credit markets through a variety of strategies including direct lending, asset lending, specialty finance, opportunistic lending and structured and actions. Since 2004, the company has successfully provided capital solutions to clients in the United States and Canada. Monroe prides itself on being a value-added and friendly partner for business owners, management, as well as private equity and independent sponsors. Monroe’s platform offers a wide variety of investment products for institutional and high net worth investors, with a focus on generating high quality “alpha” returns, regardless of business or economic cycles. The company is headquartered in Chicago and has offices in Atlanta, Boston, Los Angeles, New York and San Francisco.
Monroe has been recognized by peers and investors with various awards including Private Debt Investor as 2020 Lower Mid Market Lender of the Year, 2020 Lender of the Year and 2020 CLO Manager of the Year, Americas; Creditflux as the best American direct lending fund 2020; Pension Bridge as the private credit strategy of the year 2020; and Global M&A Network as 2020 Lender of the Year in Small Intermediate Markets. For more information, please visit www.monroecap.com.
About Oak Hill Advisors, LP
Oak Hill Advisors, LP (“OHA”) is a leading alternative investment firm with approximately $ 51 billion in capital under management for distressed and performing credit investments. The company’s investing activities are concentrated in North America and Europe. OHA manages multi-strategy and single-strategy credit funds, distressed funds, secured loan bonds and other custom mandates. The firm’s investing activities are guided by a fundamental value-driven philosophy focused on credit analysis, relative value analysis, generation of risk-adjusted return, loss avoidance and active risk management that has been in place for over three decades. The company invests on behalf of a diverse and global group of investors. OHA employs over 300 people worldwide and is headquartered in New York City, with main offices in London, England; Fort Worth, Texas; San Francisco, California; Sydney, Australia; Hong Kong and Luxembourg. For more information on OHA, please visit www.oakhilladvisors.com.
About Vertical Bridge REIT, LLC
Vertical Bridge REIT, LLC is the largest privately held owner and operator of communications infrastructure and locations in the United States, with a portfolio of more than 307,000 sites, including more than 20,000 towers owned and leased by the master and the largest and highest collection of broadcast towers in the country. sites. The company’s portfolio spans all 50 states and Puerto Rico and includes towers, rooftops, display panels, utility accessories, convenience stores and other locations in support of wireless network deployments. thread. In addition to colocation, Vertical Bridge offers edge data centers and bespoke wireless networking solutions.
Headquartered in Boca Raton, Florida, Vertical Bridge was founded in 2014 and is led by a management team with over 300 years of collective experience in tower infrastructure and related industries. Vertical Bridge is CarbonNeutral® certified and in 2020 became the first tower company in the world to achieve net zero emissions. For more information, please visit www.verticalbridge.com
For more information please contact:
Theodore L. Koenig
Monroe Capital LLC
Oak Hill Advisors, LP
For the vertical bridge:
Source: Monroe Capital LLC