Seaport Capital, a New York-based private equity firm, announced today that it invested in Municipal Communications (“Municipal”), alongside Municipal’s founder and CEO, Peter Corry. The investment reflects Seaport’s ongoing partnership with Municipal, having previously invested in the company in 2010 and 2018.
Municipal, founded in 2010, develops, owns, and operates cellular towers across the United States for wireless carriers. The investment represents the third tower development partnership between Seaport and Peter Corry. The company has sold multiple tower portfolios over the last decade, and most recently completed the sale of a tower portfolio in the third quarter of 2021.
“I’m looking forward to continuing to work alongside Seaport; we’ve had great success working together for over ten years now. Municipal’s prospects are bright, and we look forward to continuing to partner with the wireless carriers to develop high quality tower assets. With an already robust development pipeline, I’m excited about what the company and team can accomplish in the coming years,” said Peter Corry.
Seaport Capital is a lower middle-market buyout firm with significant experience and success investing in the cellular tower industry.
“Municipal is a continuation of Seaport’s decades long investment strategy in tower development, led by an industry veteran with deep carrier relationships. Peter and his team have built a great company, and we look forward to another successful partnership with the Municipal team,” said Bob Tamashunas, Partner at Seaport Capital.
About Municipal Communications
Municipal Communications 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 is a lower middle-market buyout firm that invests in communication infrastructure and services, business and information services, and media companies (the “Focus Sectors”). Seaport typically invests $10 to $30 million of equity capital in companies generating EBITDA between $3 and $15 million, with the goal of maximizing the return on invested capital. Seaport is currently investing out of Seaport Capital Partners VI, a 2020 vintage fund. Seaport’s substantial industry expertise and investing experience enable it to develop successful strategies; its relationships and team help achieve them. Nearly all of Seaport’s platform investments have been owned by founders or entrepreneurs seeking a collaborative institutional partner to provide the financial and operational resources to grow their businesses and execute on a successful strategic plan. For additional information, visit https://www.seaportcapital.com.