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At the time of exit, the company had approximately 5,000 towers across five countries, comprising the most geographically diversified tower portfolio in Africa.

Eaton Towers was founded in 2008 by a group of telecommunications experts. It subsequently grew to be one of the largest independent telecoms towers companies with the most diversified geographical tower portfolio in Africa.

Eaton Towers aims to bring affordable communication to everybody in Africa. It does this by working in partnership with mobile network operators to expand coverage, improve quality and reduce costs.

At the time of exit, Africa had the fastest growing telecommunications market with tower sharing rapidly increasing as major operators realised it was an essential strategy to reduce their operating costs and refocus on their customer service offerings.

The market demonstrated long term attractive growth trends driven by a young and growing emerging middle class, low mobile penetration and rapid growth in mobile data use.

Other than serving market needs, the industry had a profound impact on African communications, business growth and economic drivers.

Eaton Towers has undergone a substantial transformation since we first invested in 2008. Working in close partnership with Terry Rhodes and his team, Eaton Towers has become an industry leading communications infrastructure business in various African markets.

- Eduardo Gutierrez, Partner at DPI
1 Developed and helped implement the strategy to transform Eaton Towers from an African telecommunications infrastructure building company to a major African towers ownership company.
2 Supported the acquisition and build (build-to-suit) of large groups of towers by raising significant amounts of debt and equity capital to finance the project and aiding with the evaluation and implementation of transactions.
3 Recruited a world-class towers company management team to build the business further.
4 Helped the company achieve its ambitious sustainability objectives including attaining ISO certifications for Quality, Environment and Health & Safety and putting in systems and standards for estimating and reducing greenhouse gases.
5 Worked with Eaton Towers, shareholders and the buyer to facilitate an optimal exit outcome for all stakeholders.