Audax Private Debt, as administrative agent and sole lead arranger, provided a second lien credit facility supporting H.I.G. Infrastructure, an affiliate of H.I.G. Capital, in its acquisition of Tower Engineering Professionals (TEP).
Founded in 1997 and headquartered in Raleigh, NC, TEP is a provider of engineering, inspection, maintenance and construction management services for telecommunication infrastructure. The company serves cell tower owners, wireless carriers and fiber network providers throughout the U.S. and Canada. The company has helped design more than 200,000 structures since inception.
“Tower Engineering Professionals has established itself as a leading, multi-discipline telecom engineering services firm,” Dan Horan, managing director at Audax Private Debt, said. “The company’s broad portfolio of services and expansive North American footprint provide a unique value proposition to its growing customer base, and we are thrilled to partner with H.I.G. and management to support the company in this exciting next chapter.”
