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Bay Communications Completes Sale of Tower Assets to SBA Communications

Boston and San Francisco, January 2010

 

Boston, MA. - January 5, 2010 – Bay Communications, LLC  (“Bay”), a portfolio company of Housatonic Partners, has completed the sale of 28 communication towers to SBA Communications, Corporation (NYSE: SBAC).  Terms of the transaction were not disclosed.

Bay is an independent tower developer and operator founded in 2002 by James Riley in partnership with Housatonic Partners.  Bay has built a portfolio of highly desirable tower assets in difficult zoning and permitting environments that provide strategic coverage for cellular carriers in parts of the Northeast.

Housatonic Partners is a private equity investment firm founded in 1994 with over $650 million in capital under management. The firm invests in growing, profitable service companies with recurring revenues. Housatonic has partnered with exceptional management teams in more than 60 small to mid-sized companies in these industries over the past 15 years.

SBA is a leading independent owner and operator of wireless communications infrastructure in the United States. SBA generates revenue from two primary businesses site leasing and site development services. The primary focus of the Company is the leasing of antenna space on its multi-tenant towers to a variety of wireless service providers under long-term lease contracts. Since it was founded in 1989, SBA has participated in the development of over 45,000 antenna sites in the United States.

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