Stonepeak to Acquire Safety Business from Intrado
Sep 16, 2022
NEW YORK and ISLANDIA, N.Y., Sept. 16, 2022 (GLOBE NEWSWIRE) -- 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.
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.
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.