Macquarie Funds to Buy Global Tower in $1.4 Billion Deal
Global Tower, a U.S. wireless tower operator, is to be bought by a consortium of infrastructure funds managed by members of Australia's Macquarie Group in a deal valued at $1.4 billion.
New York-based fund Macquarie Infrastructure Partners and Sydney-based Macquarie Communications Infrastructure Group bought the Boca Raton, Florida, based provider of outsourced antennae site facilities from buyout group Blackstone.
The consortium said in a press statement that the deal gave Global Tower an enterprise value of $1.4 billion.
Global Tower has 2,500 towers and more than 4,600 rooftop sites for wireless communications services. Its customers include Sprint-Nextel , AT&T and Verizon Wireless, a venture of Verizon Communications and Vodafone Group.
Macquarie Group includes Australian investment bank Macquarie Bank.