Harmony Towers (Harmony), a portfolio company of Palistar Capital LP, has announced that its agreement to acquire Parallel Infrastructure from Apollo's Second Flagship Infrastructure Fund.

The transaction aims to improve customer service and provide Harmoni Towers with a reliable platform for building towers in the United States. The addition of Parallel Infrastructure to Harmoni Towers will result in a tower company with over 2,000 towers built and under construction, that will be located in 41 states. Palistar plans to invest more than US$1 billion in the company. 

Palistar and Harmoni were advised by Kirkland & Ellis LLP, while Apollo and Parallel were advised by Weil, Gotshal & Manges LLP. The transaction is subject to customary closing conditions and is expected to be completed in Q3 2022.