Municipal Communications II, LLC announced today the completion of a capital raise from Seaport Capital and Peter Corry, the Company’s founder and CEO.
Municipal II develops, owns, and operates cellular towers in the Northeast, Southeast, and Midwest for wireless carriers. Mr. Corry, a tower developer with over thirty years of experience, previously partnered with Seaport in 2010 via Municipal Communications. Municipal completed the sale of a portfolio of cellular towers to American Tower Corporation (NYSE: AMT) in the third quarter of 2018.
“Municipal II has a robust development pipeline and is enthusiastic about partnering with Seaport again to develop and operate wireless tower sites throughout the country. I appreciate the support and resources that Seaport has provided my team and me over the last eight years, and I look forward to our continued success,” said Peter Corry.
Seaport Capital is an investment firm focused on growth and buyout opportunities, and has significant experience investing in the cellular tower industry. Municipal II represents Seaport's fifth tower development company investment.
“This transaction reflects our commitment to investing in wireless infrastructure and to our continued relationship with Peter Corry. We have known Peter for ten years, and are excited about the prospects for Municipal II and the multitude of development opportunities in our future,” said Bob Tamashunas, Partner of Seaport Capital.
About Municipal Communications II
Municipal Communications II is an Atlanta, GA based communications infrastructure provider that develops, owns, and operates cellular wireless assets throughout the United States. The Company’s tower portfolio primarily covers the Northeast, Southeast, Southwest and the Midwest. For additional information, visit www.municipalcom.com.
About Seaport Capital
Founded in 1997, Seaport Capital provides capital to middle market companies in the communications, information services, 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 $10 to $30 million of equity capital in each portfolio company. For additional information, visit www.seaportcapital.com.