10/31/2003, GTP
Great Hill Partners, LLC announced today the formation of Global
Tower Management, LLC (d/b/a Global Tower Partners), which has been
formed in partnership with Marc C. Ganzi to acquire and operate
communications towers and related wireless infrastructure. To
enable Global Tower Partners to execute on its business strategy,
Great Hill Partners and Marc Ganzi have committed over $40 million
to the partnership.
Global Tower Partners currently owns and manages approximately
3,000 wireless towers and master leased rooftop communications
sites. The company's growth plan is predicated on actively pursuing
additional strategic tower acquisitions, construction of new tower
facilities and leasing up the existing portfolio of sites. The
management team is led by Marc Ganzi, who is the Chief Executive
Officer of Global Tower Partners.
"Great Hill Partners has a long history in the communications and
wireless industries, and it was clear that they had a deep
knowledge and understanding of the dynamics in the tower sector,"
said Marc Ganzi. "In creating this platform, we share a vision on
how to create strategic value in this sector, and I look forward to
their insight as we execute on our business plan."
John Hayes, Founder and Managing Partner of Great Hill Partners,
added, "Global Tower Partners is well-positioned to capitalize on
the market opportunity in the communications tower sector, which we
believe to be an important component of current and future
telecommunications infrastructure. Given their wealth of industry
expertise, we are extremely pleased to be partnering with Marc and
his management team."
As part of the transaction, John Hayes and Gene Yoon will join
Marc Ganzi on Global Tower Partners' Board of Directors.
Global Tower Partners is a leading owner and manager of wireless
communications facilities throughout the United States. The Company
currently owns and manages approximately 3,000 wireless towers and
master leased rooftop communications sites nationwide.
Headquartered in Boca Raton, Florida, the Company maintains
additional offices in Philadelphia and New York. More information
on Global Tower Partners and its owned and managed sites can be
obtained at www.gtpsites.com.
About Great Hill Partners
Great Hill Partners is a private equity firm that manages over $1
billion in capital and focuses on investing in companies in
education, business services, media, information, IT, and
communications sectors. Great Hill Partners is currently investing
its $460 million fund, Great Hill Equity Partners II, L.P., and is
targeting investments of $10 million to $50 million. For more
information, please visit www.greathillpartners.com.
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Macquarie Group is a global provider of banking, financial, advisory, investment and funds management services. Founded in 1969, Macquarie operates in more than 70 office locations in 28 countries and has assets under management totaling nearly $200 billion USD as of September 2009.
