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PROVIDENCE, R.I.-Tower Ventures Inc. (TVI) announced it has formed Tower Ventures II L.L.C. (TVLLC) and has contributed all of its assets to the company. In addition, Seaport Capital, a New York-based private equity firm, has invested $6 million of equity in the new company.
The new company will continue to carry out TVI’s efforts developing and purchasing communication towers throughout New England and New York. “The additional capital provided by Seaport will position TVLLC to take full advantage of the tower development opportunities and acquisition opportunities that exist during these difficult economic times,” explained Joseph Gallagher, president of TVI and now of TVLLC.
