Landscape Acquisition Holdings’ $860 Million Acquisition Of AP WIP Investments


Greenberg Traurig acted as legal advisor to Landscape on the Transaction. Cravath, Swaine & Moore and Skadden, Arps, Slate, Meagher & Flom acted as legal advisors to Associated Partners and AP Wireless. Ropes & Gray acted as legal advisor to Centerbridge Partners, L.P.

Landscape Acquisition Holdings Limited (LSE: LAHL) has completed its acquisition of AP WIP Investments Holdings, LP from Associated Partners, LP for approximately US$860 million consisting of cash, shares and assumption of debt.

With the closing of this Transaction, Landscape will be renamed Digital Landscape Group, Inc.

In connection with the Transaction, the Company consummated a private placement of US$100 million at US$10.00 per ordinary share to entities affiliated with Centerbridge Partners, L.P.

AP Wireless is one of the largest international aggregators of rental streams underlying wireless sites through the acquisition of wireless telecom real property interests and contractual rights.

Centerbridge Partners is a private investment management firm that employs a flexible approach across investment disciplines, including private equity, credit and related strategies, and real estate.

Credit Suisse acted as the lead capital markets and financial advisor alongside Evercore, Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC.

The Ropes & Gray team that advised Centerbridge was led by private equity partner Jonathan Gill (New York; Picture), and included private equity associate Paul White (New York), private equity partners Elizabeth Todd, Kiran Sharma (both of London) and Alyson Gal (Boston), mergers & acquisitions partner Christopher Capuzzi (New York), private equity counsel Milap Patel (Boston), tax partners Leo Arnaboldi III (New York) and David Saltzman (Boston), and mergers & acquisitions partner Craig Marcus (Boston).

Involved fees earner: Leo Arnaboldi – Ropes & Gray; Christopher Capuzzi – Ropes & Gray; Alyson Gal Allen – Ropes & Gray; Jonathan Gill – Ropes & Gray; Craig Marcus – Ropes & Gray; Milap Patel – Ropes & Gray; David Saltzman – Ropes & Gray; Kiran Sharma – Ropes & Gray; Elizabeth Todd – Ropes & Gray; Paul White – Ropes & Gray;

Law Firms: Ropes & Gray;

Clients: Centerbridge Partners;

Author: Ambrogio Visconti