CHICAGO, Oct. 15, 2020 /PRNewswire/ — ExteNet Systems, a number one supplier of mobility and fiber connectivity options, and the biggest non-public proprietor and operator of DAS and small cell networks in america, immediately introduced that long-term institutional investor John Hancock Life Insurance coverage Firm (U.S.A) is main a consortium that may purchase roughly 30% of the Firm. John Hancock will be a part of present main traders, Digital Colony and Stonepeak Infrastructure Companions. ExteNet will make the most of the capital funding from John Hancock to fund its future development because it scales for 5G community densification and addresses superior connectivity wants of its clients together with cell community operators (MNOs), carriers, property homeowners and enterprises.
“We’re happy to welcome John Hancock to ExteNet’s investor group,” mentioned Marc Ganzi, Govt Chairman of ExteNet. “Communications infrastructure is main world digital transformation, and we’re within the early phases of a decade-plus 5G funding cycle. John Hancock is an ideal accomplice for ExteNet as we proceed to offer best-in-class digital infrastructure options for our buyer base and lead the transformation to 5G.”
“ExteNet has been a pioneer in wi-fi infrastructure, deploying mission vital networks and progressive 5G capabilities to its clients all through america. We stay up for our partnership with John Hancock to assist the following chapter of development,” mentioned Brian McMullen, Senior Managing Director at Stonepeak.
“With our sturdy monitor file of offering market-leading, shared digital infrastructure and providers for our clients, ExteNet is completely positioned to excel in our dedication to ship tomorrow’s connectivity immediately,” mentioned Jim Hyde, President and CEO at ExteNet. “I’m excited to work with our latest accomplice, John Hancock, as we proceed to construct next-generation infrastructure and progressive options, together with out of doors and in-building 5G, nationwide.”
ExteNet’s govt administration group construction is anticipated to stay unchanged post-transaction, with Marc Ganzi, President and Chief Govt Officer of Colony Capital, Inc. (NYSE: CLNY) and CEO of Digital Colony, persevering with to function the Govt Chairman, and Jim Hyde persevering with because the President and CEO of the corporate.
PJT Companions served as monetary advisors to the Firm and its present traders. TAP Advisors served as monetary advisors to John Hancock. Simpson, Thacher & Bartlett LLP supplied authorized illustration to ExteNet, and Paul, Weiss, Rifkind, Wharton & Garrison represented John Hancock. The transaction is topic to varied regulatory approvals. Monetary phrases of the transaction weren’t disclosed.
About John Hancock and Manulife
John Hancock is a unit of Manulife Monetary Company, a number one worldwide monetary providers group that helps folks make their selections simpler and lives higher. We function primarily as John Hancock in america, and Manulife globally, together with Canada, Asia and Europe. We offer monetary recommendation, insurance coverage and wealth and asset administration options for people, teams and establishments. Property beneath administration and administration by Manulife and its subsidiaries have been CAD$1.2 trillion (US$0.9 trillion) as of June 30, 2020. Manulife Monetary Company trades as MFC on the TSX, NYSE, and PSE, and beneath 945 on the SEHK. Manulife might be discovered at manulife.com.
One of many largest life insurers in america, John Hancock helps greater than 10 million Individuals with a broad vary of economic merchandise, together with life insurance, annuities, investments, 401(k) plans, and education savings plans. Extra details about John Hancock could also be discovered at johnhancock.com.
About ExteNet Methods, Inc.
Lisle, IL-based ExteNet Systems, Inc. is the nation’s largest privately-held supplier of converged communications infrastructure and providers addressing out of doors and in-building wi-fi, fiber and different superior connectivity wants of its clients. Our clients embrace cell community operators (MNOs), actual property homeowners, property managers, wholesale carriers, enterprises, municipalities and rural carriers. Our out of doors small cell and DAS networks are deployed in a wide range of city, suburban and rural environments whereas indoor networks are deployed in iconic sports activities and leisure venues, conference facilities, business workplace buildings, school campuses, healthcare services, resorts and resorts, and transit techniques nationwide. For extra data, please go to https://extenetsystems.com/.
“ExteNet®” is a registered trademark of ExteNet Methods, Inc.
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