Charterhouse Strategic Partners Leads Equity Investment in Diamond Communications
Summit, New Jersey, August 1st, 2016
Charterhouse Strategic Partners (“Charterhouse”) announced today that it led a common equity financing round along side management and several existing investors in Diamond Communications, LLC (“Diamond” or the “Company”).
Diamond Communications is the sixth-largest independent U.S. wireless communication infrastructure company owning and managing in excess of 120,000 properties and structures and thousands of miles of rights-of-way across the country. Diamond has longstanding relationships with the major wireless carriers, regional carriers, first responders and other wireless users.
Diamond represents Charterhouse’s first transaction under its modified investment strategy. In addition to capital, Charterhouse provides solutions for executives and shareholders that are looking for experienced partners to provide the skills and credentials necessary to assist those companies in achieving future growth opportunities. Charterhouse’s experience from investing in tower companies, distributed antenna systems and wireless companies in addition to over 30 years of board governance of public and private companies provides Diamond with a supplemental set of skills. “We are delighted to work again with Diamond’s Chairman and CEO Edward Farscht whom we previously worked with when we owned AAT Communications Corp. We believe this is another opportunity where we can invest alongside a top-notch management team in an attractive growth industry,” said Thomas C. Dircks, Managing Partner of Charterhouse. Thomas C. Dircks has joined Diamond’s Board of Directors.
Charterhouse Strategic Partners was formed earlier this year by the two senior partners of Charterhouse Group. Charterhouse invested and managed private equity funds for decades and has generated attractive returns from all of its institutional funds including the firm’s most recent fund Charterhouse Equity Partners IV which has realized a gross return exceeding two times invested capital. “Charterhouse’s extensive experience in telecommunication services and expertise in strategic issues and corporate governance will be invaluable assets as we continue to expand the Diamond platform” remarked Ed Farscht, Chairman and CEO of Diamond Communications.
About Charterhouse Strategic Partners
Charterhouse Strategic Partners decouples the capital provider from the benefits derived from strategic advice and experience. The principals of Charterhouse Strategic Partners invest their own capital into transactions and have long-standing relationships with numerous institutional capital providers. Each relationship is a long-term value creation opportunity independent of each other. This eliminates the conflicts of interest incurred by financial sponsors motivated by realization demands, other portfolio company distractions or simply the making of investment decisions driven by trying to achieve overall fund IRR's.
Charterhouse provides a solution for executives and shareholders that are looking for experienced partners to provide the skills and credentials necessary for those companies that may be one step away from bringing in institutional capital or transacting with a financial sponsor or strategic investor. Charterhouse’s experience and institutional relationships allows executives and shareholders to find the right partner for their needs, a task all but impossible in today's very structured and efficient investment banker-led auction process.
About Diamond Communications:
Diamond Communications is headquartered in Short Hills, New Jersey, with eight regional offices across the United States. Diamond is one of the largest private U.S. wireless infrastructure companies and owns and manages in excess of 120,000 properties and structures and thousands of miles of rights-of-way across the country. Diamond has longstanding relationships with the major wireless carriers, regional carriers, first responders and other wireless users.