Private equity firm Kohlberg Kravis and Roberts has invested in rural mobile connectivity projects run by Associated Partners. KKR will get minority stakes in three rural wireless infrastructure businesses. KKR did not reveal an exact amount, but the WSJ revealed the actual investment with possibly more investment to follow. The three wireless companies are PEG Bandwidth, AP Wireless, and AP Towers.
“The need for wireless infrastructure will continue to be driven by increases in wireless data usage that is overwhelming existing network capacity,” stated Raj Agrawal, KKR’s Head of North American Infrastructure. “We are excited about the opportunity to partner with Associated Partners to grow this premier set of businesses with critical telecom infrastructure assets.”
This is KKR’s 11th infrastructure investment overall in 5th in North America since 2010. KKR also invested in Colonial Pipeline, SunTap Energy, Bayonne Water & Wastewater Concession, and SSM Solar.