Harmoni Towers, a communications infrastructure company and a portfolio company of Palistar Capital LP, has bought Parallel Infrastructure.
Parallel is a telecommunications infrastructure provider. Palistar aims to deploy over $1 billion to expand and develop the combined company. Parallel Infrastructure was acquired from funds managed by affiliates of Apollo Global Management Inc.
“We are looking forward to the continued build-out of the combined platform, enabling greater 5G access and coverage for our wireless carrier clients,” says Omar Jaffrey, managing partner and founder of Palistar.
Palistar and Harmoni were advised by Kirkland & Ellis LLP. Parallel and Apollo were advised by Weil, Gotshal & Manges LLP.