Everest Infrastructure Closes $600 Million Senior Secured Credit Financing

December 18, 2023

Everest Infrastructure Partners, Inc. (“Everest”), through its U.S. affiliate (EIP Consolidated, LLC), announced today that it has closed $600 million in Senior Secured Credit Facilities, led by the Private Credit business within Goldman Sachs Asset Management (“Goldman Sachs”).

The transaction provides flexibility for Everest to access fixed-rate and variable-rate Term Loan financing as well as a substantial Multi-Draw Term Loan to support additional future growth.   Proceeds from the financings will be used to repay existing indebtedness, to fund general working capital and capital expenditure requirements including new tower development, and to fund the Company’s extensive acquisitions pipeline, including the recent acquisition of wireless tower assets from Charter Communications.

“This Senior Credit Facility provides Everest with access to multi-jurisdiction financing with the flexibility to continue to grow our business in the U.S. in addition to supporting growth in select international markets.  Presently, Everest is active outside of the U.S. in Australia, New Zealand, and Portugal and this financing allows us to continue to support the growth of communications networks and value-added infrastructure solutions for our customers”, said Matt Newton, Chief Executive Officer of Everest.  “This financing brings to more than $1 billion in new debt and equity financing raised by Everest during 2023, which speaks to the strength of our business model and the overall growth opportunity in wireless infrastructure.”

Everest Infrastructure Partners is supported across all markets by lead equity sponsor, Peppertree Capital Management.

Goldman Sachs acted as Administrative Agent and Collateral Agent in this financing.  Thompson Hine LLP acted as external legal counsel of the company, and King & Spalding LLP acted as legal counsel for Goldman Sachs, as Administrative Agent.

About Everest Infrastructure Partners

Wireless connectivity is rapidly changing the world. Utilizing a data-driven approach, Everest has developed one of the largest and most efficient aggregation platforms focused exclusively on Wireless Infrastructure assets. We are a creative and entrepreneurial team, with a culture of high performance, agility, and commitment.  Our Vision is to become the global partner of choice for wireless infrastructure assets.  To achieve this vision, we embrace technology evolution to deliver exceptional value to our network provider customers, their wireless communications users, and all participants in the growth of mobile infrastructure networks. Owning or marketing more than 2,500 communications tower sites in the United States, Australia, New Zealand, and Portugal, Everest has raised capital commitments of more than $1.5 billion since its inception in 2015, making it one of the wireless industry’s fastest growing and largest private tower companies.

More information about Everest can be found at http://everestinfrastructure.com

About Peppertree Capital Management, Inc.

Peppertree Capital Management, Inc. is a private equity firm focused on making investments in growing communication infrastructure companies, both in the United States and internationally.  Areas of interest include towers, fiber, DAS, spectrum, small cells and real estate related to its areas of focus.  Peppertree was formed in 2004 and is currently investing out of its tenth equity fund and an evergreen debt fund.  Peppertree has more than $6.0 billion under management and has made more than 140 investments in communication infrastructure companies in 12 countries.

More information about Peppertree can be found at https://peppertreecapital.com