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FOR IMMEDIATE RELEASE
Contact: Terry Armant, 561.995.0320
Global Tower Partners Acquires Site Management Division of TRM
Acquisition Provides GTP with over 7,000 Wireless Antenna Sites Nationwide.
BOCA RATON, FL, October 17, 2005 – Global Tower Partners (“GTP”)
today announced the definitive closing of the site management division of Tower Resource Management
(“TRM”). The TRM acquisition will contribute 3,676 new rooftop sites and 7 new wireless
communication towers to GTP’s growing national site portfolio. TRM, a leading privately
held site development & deployment services company, will now focus exclusively
on providing value added site acquisition, construction and turnkey development
services to wireless carriers nationwide.
"The acquisition of the TRM Site Management Division solidifies our position as a leading developer and manager of wireless antenna facilities on commercial rooftops
throughout the United States," said Marc C. Ganzi, Chief Executive Officer,
Global Tower Partners. “We are extremely excited to welcome the TRM Site Management Team
and their distinguished track record of success in developing wireless facilities
in partnership with leading real estate owners across the country.”
“In the wireless telecom market where deployment efficiencies are of paramount importance
to all carriers, it was important for the TRM site management group to partner with
a
company that could enhance the deliverable to the carriers and increase returns
to property owners” said Bill Crowley, President, Tower Resource Management. “The
combination with GTP will create an immediate expansion of the marketing and technical
resources applied to maximizing opportunities for all represented real estate owners
in the TRM portfolio.”
“The TRM Site Services organization will focus on providing enhanced deployment
services on a nationwide basis to wireless carriers” Said Steve Keech, Senior Vice
President, Tower Resource Management. “An ongoing relationship with GTP will allow
both organizations to benefit from opportunities where the services of the other
are required for carrier deployment initiatives.”
"The TRM portfolio compliments our existing towers and rooftops throughout many
of our existing core markets”
said Terry Armant, Senior Vice President of Development, Global Tower Partners.
"Furthermore, the combined portfolios will offer our customers
a variety of new wireless site solutions throughout the country to assist in enhancing
our customer’s coverage needs."
Post the closing of the TRM acquisition, GTP will own, manage and master lease some
7,000 sites throughout the United States, including 1,600
owned communications towers. The transaction closed on October 3, 2005.
As privately held entities, GTP and TRM
consider the terms and conditions of the
definitive agreements proprietary.
About Global Tower Partners
Since being founded in late 2003, Boca Raton based Global Tower Partners (http://www.gtpsites.com)
is one of the fastest growing and leading providers of outsourced antennae site
facilities to the wireless communications industry in the United States. Backed
by The Blackstone Group of New York City, GTP's core business includes the ownership,
development, leasing and management of antennae sites on towers and commercial real
estate rooftops. GTP owns, manages or master leases more than 7,200 sites, including
1,800 owned towers located throughout the United States. GTP's customers are leading
wireless communications providers including Sprint-Nextel, Cingular Wireless, T-Mobile
USA, Verizon Wireless, Centennial Wireless, Dobson Communications and Nextel Partners.
About Media Venture Partners
Media Venture Partners is a San Francisco-based media and telecommunications focused
investment banking firm. Since being founded in 1987, Media Venture Partners has
advised over $13 billion worth of transactions with hundreds of sellers in a variety
of areas of communications and media including radio stations, television stations,
wireless carriers, and tower companies.
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