American private equity fund Everstrong Capital has bought a majority stake in SealTowers Limited, a Kenya-based independent provider of cell towers founded five years ago, the firms announced yesterday.
The deal is subject to regulatory approvals. The companies did not disclose the size of the majority stake being sold to Everstrong Capital, which has offices in the US, Kenya and South Africa and has been targeting deals in energy, water, ICT, transport and healthcare sectors.
