ATLANTA, GA. – April 21, 2015 – Municipal Communications (“Municipal” or the “Company”) announced today that it has completed the sale of an undisclosed number of cellular towers to SBA Communications. The proceeds from the transaction will be used to support the continued growth of Municipal as it continues to develop cellular towers for wireless carriers across the United States.
Municipal develops, owns, and operates communications towers, primarily in the southeastern U.S. The Company leverages its relationships and regional knowledge to obtain sites desirable to cellular carriers. Municipal is backed financially by Seaport Capital, a middle market private equity investor with meaningful experience investing in the cellular tower industry.
“Municipal has numerous active projects and is enthusiastic about completing these sites for our wireless carrier partners,” said Peter Corry, CEO of Municipal Communications. “The proceeds from the transaction will assist the Company as it continues to develop a number of tower projects across the country.”
“Municipal remains well-positioned in the industry as carriers continue to demand new cell sites as they densify their wireless networks,” said Bob Tamashunas, Partner of Seaport Capital.
About Municipal Communications
Municipal Communications is an Atlanta-based wireless communications infrastructure provider that develops cellular projects throughout the United States for wireless carriers. For additional information, visit www.municipalcom.com.
About Seaport Capital
Founded in 1997, Seaport Capital provides capital to middle market companies in the communications, media, and business services sectors. Seaport works with talented management teams to create valuable companies that are leaders in their market segments. Seaport's extensive investing experience enables it to develop successful strategies; its relationships and resources help achieve them. The firm seeks to invest $5 to $25 million of equity capital in each portfolio company. For additional information, visit www.seaportcapital.com.
About SBA Communications Corporation
SBA Communications Corporation is a first choice provider and leading owner and operator of wireless communications infrastructure in North, Central and South America. By "Building Better Wireless", SBA generates revenue from two primary businesses - site leasing and site development services. SBA's primary focus is the leasing of antenna space on its multi- tenant towers to a variety of wireless service providers under long-term lease contracts. For more information please visit: www.sbasite.com.