Audax Private Debt backs H.I.G. Infrastructure buyout of TEP

• H.I.G. Infrastructure is an affiliate of H.I.G. Capital
• Based in Raleigh, North Carolina, TEP is a provider of engineering, inspection, maintenance, and construction management services for telecommunication infrastructure
• TEP was founded in 1997

Audax Private Debt has provided a credit facility to support H.I.G. Infrastructure’s acquisition of Tower Engineering Professional. No financial terms were disclosed.

Audax was administrative agent and sole lead arranger on the financing.

Based in Raleigh, North Carolina, TEP is a provider of engineering, inspection, maintenance, and construction management services for telecommunication infrastructure.

TEP was founded in 1997.

“Tower Engineering Professionals has established itself as a leading, multi-discipline telecom engineering services firm,” said Dan Horan, a managing director at Audax Private Debt, in a statement. “The Company’s broad portfolio of services and expansive North American footprint provide a unique value proposition to its growing customer base, and we are thrilled to partner with H.I.G. and management to support the Company in this exciting next chapter.”

H.I.G. Infrastructure is an affiliate of H.I.G. Capital.

Based in New York, Audax Private Debt has invested over $34 billion across more than 1,100 companies in support of over 275 private equity sponsors and has raised over $27 billion in capital.