Peterson Partners Puts $4M into QMC Telecom
February 15, 2012 /Press Release/ – Peterson Partners today 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 Private Equity
Peterson Private Equity, located in Salt Lake City Utah, is the Private Equity group of Peterson Partners Inc. Peterson Private Equity is a middle market investor that is growth oriented, flexible, and has a long-term mindset. Over the past 11 years, Peterson has made investments across the United States, Canada, and Brazil. Peterson Partners Inc. is an independent investment management firm with assets under management across a variety of alternative asset classes. Peterson Partners and its affiliates have invested in over 150 companies, primarily in the US, but also Canada, Europe, Mexico, Brazil and India.