PORTLAND, Ore.-Master Towers L.L.C. has purchased tower company Portland General Broadband Wireless L.L.C. from Oregon-based utility Portland General Electric, a subsidiary of Enron, for an undisclosed amount.
With the company, Master Towers acquired 24 monopole tower sites in Oregon’s Multnomah, Marion, Washington, Columbia and Clackamas counties, capable of serving populations in cities including Portland, Salem and Eugene. According to Steve Master, president of Master Towers, the purchase makes Master Towers one of the strongest and largest private tower companies in Oregon.
Master Towers purchased PGBW with private money as opposed to venture capital, which according to Master, helped it to seal the deal. Master Towers came in third in the bidding, but the other two companies bidding for the assets offered venture capital and were unable to meet requirements to complete the purchase.
Master Towers was founded five years ago by Master and Jeff Meader, who serves as vice president. Until now, its portfolio consisted of several Cricket towers and rooftop sites it manages. “We’re small and looking to grow bigger,” said Master.
The company is already in talks with its existing carrier customers that are interested in placement on the new sites and in building other new sites, according to Master, who plans to continue to pursue opportunities for acquisition. “We continue to take shots, and this one got through,” he said.
