Apollo Global to Sell Tower Operator Parallel to Palistar-Backed Company

Apollo Global Administration Inc. agreed to promote wi-fi tower firm Parallel Infrastructure to a purchaser backed by Palistar Capital, which plans to take a position greater than $1 billion to increase the enterprise.

The deal would create one of many largest cellphone infrastructure firms within the U.S., with greater than 2,000 websites both working or underneath development throughout 41 states, as soon as Parallel is mixed with developer Harmoni Towers LLC, New York-based Palistar stated. Palistar acquired Harmoni in June 2020.