Diamond Communications LLC Acquires Southeast Towers, LLC
NEW YORK--Diamond Communications yesterday announced it has acquired Southeast Towers, LLC, a communications tower portfolio company of Seaport Capital.
The acquisition adds a portfolio of 180 tower assets to Diamond's portfolio, expanding Diamond's operations across the Southeastern United States. The towers are located in Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, Tennessee and Virginia. The price of the acquisition was not disclosed.
"We are excited about this acquisition," said Ed Farscht, CEO of Diamond Communications. "Southeast has a strong portfolio of well positioned assets. This purchase is consistent with Diamond's strategy to expand its business through both new tower development as well as strategic acquisitions. The newly acquired assets will allow Diamond to better serve its customers that include all major U.S. wireless service providers and communication companies."
"We partnered with Carrie Kirk and her team in 2004. The entire Southeast Towers team accomplished a lot over the last three years in building one of the largest privately held tower development companies in the country," said Bob Tamashunas, Principal of Seaport Capital. "We believe Diamond Communications will be a solid business partner for Southeast going forward."
Seaport Capital provides equity to middle market media, telecommunications, information and business services companies with a focus on private companies with market capitalizations between $15 and $200 million and equity needs of $5 to $35 million.
Media Venture Partners served as exclusive financial advisor to Southeast Towers and Seaport Capital in this transaction.
Contacts
Seaport Capital
Bob Tamashunas, 212-847-8913
The acquisition adds a portfolio of 180 tower assets to Diamond's portfolio, expanding Diamond's operations across the Southeastern United States. The towers are located in Alabama, Florida, Georgia, Mississippi, North Carolina, South Carolina, Tennessee and Virginia. The price of the acquisition was not disclosed.
"We are excited about this acquisition," said Ed Farscht, CEO of Diamond Communications. "Southeast has a strong portfolio of well positioned assets. This purchase is consistent with Diamond's strategy to expand its business through both new tower development as well as strategic acquisitions. The newly acquired assets will allow Diamond to better serve its customers that include all major U.S. wireless service providers and communication companies."
"We partnered with Carrie Kirk and her team in 2004. The entire Southeast Towers team accomplished a lot over the last three years in building one of the largest privately held tower development companies in the country," said Bob Tamashunas, Principal of Seaport Capital. "We believe Diamond Communications will be a solid business partner for Southeast going forward."
Seaport Capital provides equity to middle market media, telecommunications, information and business services companies with a focus on private companies with market capitalizations between $15 and $200 million and equity needs of $5 to $35 million.
Media Venture Partners served as exclusive financial advisor to Southeast Towers and Seaport Capital in this transaction.
Contacts
Seaport Capital
Bob Tamashunas, 212-847-8913
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