Global Signal Inc. said it will purchase all of the equity of GoldenState Towers L.L.C. for up to $63.1 million, in a transaction excepted to close in the fourth quarter.
GoldenState is a portfolio company of VS&A Communications Partners III L.P., a private equity affiliate of Veronis Suhler Stevenson. The company’s wireless communications towers are primarily located in California, Oregon, Idaho, Washington, Nevada and Arizona.
“We are pleased to acquire this portfolio of telephony towers, which are located primarily along major traffic corridors and in growing population areas,” said David Grain, president of Global Signal. “This transaction reflects our continued focus on acquiring additional high-quality wireless telephony assets.”
Global Signal now owns or manages more than 3,300 wireless communications towers and other communications sites.
Concurrent with Global Signal’s announcement, GoldenState announced it purchased 33 towers in Oregon, Nevada and California and acquired the rooftop management rights for more than 45 buildings in Oregon and Washington. The company now owns more than 200 tower sites.
