(peHUB) February 15, 2012 – Peterson Partners announced that it invested $4 million in QMC Telecom International, a Brazilian-based developer of cell towers.
QMC Telecom will use the investment to begin development and construction of cell towers throughout Brazil. The investment was part of a larger syndicated deal led by Housatonic Partners, a private equity investment firm based in Boston, Mass.
QMC Telecom plans to develop hundreds of cell towers within Brazil. With a population of nearly 200 million people, Brazil is a developing market with a rising middle class. Brazil ranks No. 5 in the world in the number of mobile phones in use.
“The existing cell tower infrastructure in Brazil is fragmented and is not going to meet the country’s growing needs,” said Brandon Cope, partner at Peterson Partners.
“As Brazilians purchase more mobile devices and upgrade their existing data plans there is a growing need for more cell tower infrastructure.”
Rafael Samoza and Jose Stella founded QMC Telecom. Their first venture was an outdoor advertising billboard business in Puerto Rico. The team also has experience in building cell towers in Puerto Rico.
“We have known Rafael and Jose for many years and have had a wonderful working relationship,”
Cope said. “They have a track record of success and we are excited about working with them again.”
About Peterson Partners
Peterson Partners, based in Salt Lake City, Utah, is one of the Intermountain West’s most successful private equity firms. Specializing in small to mid-sized companies, Peterson Partners has a track record of successful investments including JetBlue, Making Memories, EnergySolutions, 3form, Cranium, Asurion, Instashred, Winder Farms and Diamond Rental. Founded in 1995, Peterson Partners has managed over $350 million in committed capital through six funds.