Peppertree Capital to Join Forces with TPG

Deal News | May 06, 2025 | TPG

Peppertree Capital to Join Forces with TPG

TPG Inc., a globally recognized alternative asset management firm, will acquire Peppertree Capital Management, a firm specializing in digital infrastructure with a primary focus on wireless communication towers. The deal, worth up to $660 million through a combination of cash, equity, and performance-based earnouts, aims to enhance TPG's ventures into digital infrastructure. This acquisition aligns with TPG's strategy of diversifying its portfolio and capitalizing on Peppertree's expertise and market position in digital infrastructure. TPG's asset management expertise along with its broad industry relationships is expected to support Peppertree's growth. The acquisition is contingent upon various approvals and adjustments.

Sectors

  • Digital Infrastructure
  • Investment Management
  • Wireless Communications

Geography

  • United States – Both TPG and Peppertree Capital are based in the United States, with TPG having significant operations in San Francisco and Fort Worth, and Peppertree headquartered in Chagrin Falls, Ohio.

Industry

  • Digital Infrastructure – The article discusses TPG's acquisition of Peppertree Capital, a firm that invests in wireless communications towers, a key component of digital infrastructure.
  • Investment Management – Both TPG and Peppertree operate in the investment management sector, with TPG focusing on alternative asset management and Peppertree on communication infrastructure assets.
  • Wireless Communications – Peppertree Capital focuses on wireless communications towers, an essential part of the wireless communications industry.

Financials

  • Up to $242 million in cash and up to $418 million in equity, with earnouts valued at up to $300 million. – The financial details of the acquisition deal between TPG and Peppertree Capital.

Participants

NameRoleTypeDescription
TPG Inc.Bidding CompanyCompanyA leading global alternative asset management firm based in San Francisco and Fort Worth, Texas.
Peppertree Capital Management, Inc.Target CompanyCompanyA specialized digital infrastructure investment firm focusing on wireless communications towers, headquartered in Chagrin Falls, Ohio.
Gary SteinShareholder ContactPersonContact person for shareholders at TPG.
Luke Barrett and Julia SottosantiMedia ContactPersonMedia contacts for TPG.