Stonepeak, a leading alternative investment firm specializing in
infrastructure and real assets, and Intrado Corporation
(“Intrado”), a global leader in technology enabled services, today
announced they have entered into a definitive agreement whereby
investment funds advised by Stonepeak will acquire Intrado’s Safety
business, a market-leading provider of critical public emergency
telecommunications services, for $2.4 billion. Digital Workflows,
part of the Life & Safety segment, will be retained by Intrado.
For more than 40 years, Intrado’s Safety
business has been the foundation for 911 infrastructure in the
U.S., efficiently connecting citizens with public safety answering
points (PSAPs) and first responders. The business delivers critical
emergency data over a highly reliable, secure, standards-based
network that serves 3.1 million wireless sites, 2.5 billion
telephone numbers, 13,600 PSAP seats, and an extensive cloud and
datacenter footprint across the U.S. and Canada.
“I am pleased that the Safety team will continue
to advance their vision as part of the Stonepeak portfolio,
benefitting from their experience and success in investing in a
wide range of digital infrastructure companies over the past
decade,” said John Shlonsky, President and Chief Executive Officer
of Intrado. “I remain excited about Intrado’s future given Digital
Workflows, Notified, and Mosaicx are industry leaders in each
market they serve.”
“Intrado’s Safety business represents an
attractive opportunity to invest behind critical telecommunications
infrastructure that underpins access to 911, a public good in the
U.S., through its extremely high-quality network, central
positioning within the emergency response chain, and long-term
customer relationships,” said Stonepeak Senior Managing Director,
James Wyper. “We are keen to support the next phase of important
work Intrado’s experienced Safety team is undertaking to further
enhance and grow this backbone infrastructure that helps keep
employees, customers, students, and communities safe.”
The investment in Intrado’s Safety business
builds upon Stonepeak’s experience investing in businesses across
the communications and digital infrastructure landscape globally,
including data centers, 5G wireless infrastructure, residential
broadband networks, and metro, long haul, and subsea fiber.
The transaction is expected to close in the
first quarter of 2023, subject to regulatory approvals and other
customary closing conditions.
RBC Capital Markets acted as lead financial
advisor to Intrado on the transaction. Intrado was also advised by
LionTree. Paul, Weiss, Rifkind, Wharton & Garrison LLP served
as legal advisors to Intrado on the transaction.
Simpson Thacher & Bartlett served as legal
advisors to Stonepeak on the transaction.
About Stonepeak
Stonepeak is a leading alternative investment
firm specializing in infrastructure and real assets with
approximately $51.7 billion of assets under management. Through its
investment in defensive, hard-asset businesses globally, Stonepeak
aims to create value for its investors and portfolio companies, and
to have a positive impact on the communities in which it operates.
Stonepeak sponsors investment vehicles focused on private equity
and credit. The firm provides capital, operational support, and
committed partnership to sustainably grow investments in its target
sectors, which include communications, energy transition, transport
and logistics, and social infrastructure. Stonepeak is
headquartered in New York with offices in Austin, Hong Kong,
Houston, London, and Sydney. For more information, please visit
www.stonepeak.com.
About Intrado
Intrado Corporation is an innovative,
cloud-based, global technology partner to clients around the world.
Our solutions connect people and organizations at the right time
and in the right ways, making those mission-critical connections
more relevant, engaging, and actionable - turning Information to
Insight.
Intrado has sales and/or operations in the
United States, Canada, Europe, the Middle East, Asia Pacific, Latin
America, and South America. Intrado is controlled by affiliates of
certain funds managed by Apollo Global Management, Inc. (NYSE:
APO). For more information, please call 1-800-841-9000 or visit
www.intrado.com.
Forward Looking Statements
This press release contains forward-looking
statements, within the meaning of the Private Securities Litigation
Reform Act of 1995. Forward-looking statements can be generally
identified by the use of words such as “may,” “should,” “expects,”
“plans,” “anticipates,” “believes,” “estimates,” “predicts,”
“intends,” “will,” “continue,” or similar terminology. These
statements reflect only Intrado’s and Stonepeak’s current
expectations and are not guarantees of future performance or
results. These statements are subject to various risks and
uncertainties that could cause actual results to differ materially
from those contained in the forward-looking statements. These
forward-looking statements speak only as of the date on which the
statements were made. Intrado and Stonepeak undertake no obligation
to update or revise publicly any forward-looking statements,
whether as a result of new information, future events or otherwise,
except to the extent required by applicable law.
Contacts
StonepeakKate BeersBeers@Stonepeak.com646-540-5225
IntradoDave PleissDMPleiss@Intrado.com402-716-6578
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