Written by jsmith on Mar 26, 2009 at 6:40 pm
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Tampa, Fla.-based Skyway Towers has completed part of a transaction involving the planned acquisition of 60 communications towers from Sandia, Texas-based Towers of Texas. The two parties, as privately held companies, released no financial information about the transaction and did not say how many towers were involved in the initial closing that was announced yesterday.
“The Towers of Texas acquisition marks Skyway’s continued growth in the marketplace,” said Dan Behuniak, CEO of Skyway Towers. “We are excited about the potential of these very attractive locations. We are also looking forward to a long and prosperous partnership with a high-quality developer like Towers of Texas.”
On behalf of Towers of Texas, spokesman Charlie Bednorz said, “This agreement concludes a targeted but competitive process, whereby we concluded that Skyway offered us compelling value to our shareholders and a path of certainty to closure. We enjoyed working with the Skyway team and look forward to closing all of the towers contemplated in this transaction.”
After the entire acquisition has closed, Skyway will own more than 150 towers in the United States. Media Venture Partners represented Towers of Texas in the transaction.