EI Towers looks to close acquisition of three targets by end of year (translated)
27 MAY 2018
Italian transmission tower company EI Towers [BIT:EI] is on course to acquire three transmission tower companies by the end of the year, Italian language daily Il Sole 24 Ore reported. The report cited chairman Guido Barbieri who said that the three companies owned a mixture of telecoms and radio towers and were situated in the Umbria region.
The report said that the contribution to extra EBITDA would be in the region of EUR 2m.
The report cited Barbier as saying that EI Towers made three purchases at the beginning of the year of three companies owning telecoms and radio towers across Italy. The companies were named as Highland, Airnet and Isatech.
The report said that the EBITDA contribution of these three companies plus a fourth acquisition about to be made would also be in the region of EUR 2m.
The report said that EI Towers subsidiary Towertel carried out the buys and would carry out the other acquisitions.
The report added EI Towers also intends to buy up radio transmission companies via its EITRadio subsidiary. The item cited Barbieri as saying that the sector was fragmented and thus ripe for consolidation.
The report added that the aim is for Towertel to contribute EUR 28-30m EBITDA to EI Towers while EITRadio will reach EUR 8-10m, or 4-8%, which would double EITRadio's share in terms of EBITDA margin from 4% to 8%.
The article also said that EI Towers is looking to grow in the antenna system (DAS) market with the acquisition of at least two companies. The report said that one company could be acquired in June.