News
AAT to Purchase Entire Tower Portfolio of Signal One
St. Louis, January 6, 2004
Following its recent agreement to acquire up to 97 towers from US Unwired Inc.,
AAT Communications Corp. announced today its plans to acquire all of the tower assets of Signal One, LLC, a privately held tower provider and site management company based in Chattanooga, Tenn.
Combined, the US Unwired and Signal One transactions - which are expected to close in full or in part by mid-March - will expand the AAT portfolio to approximately 1,800 owned towers and more than 6,000 managed rooftop and tower sites in 48 states. The assets to be acquired from Signal One - including 226 owned towers and 199 managed sites - are located primarily in Tennessee, Alabama, Mississippi, and Georgia.
"These acquisitions clearly enhance our ability to respond to the needs of our carrier customers, as they look to expand their networks and keep pace with the growing demand for wireless voice and data services," said Paul Estes, chief operating officer of AAT Communications.
Already the nation's largest privately held provider of wireless communication sites, AAT is also a leader in the sector's current consolidation trend, having raised nearly a half billion dollars worth of capital, in 18 months, for expansion purposes, including acquisitions and "new-build" or "build-to-suit" projects.
"Beyond acquisitions, we have become a leading choice for the construction of new towers thanks to our solid capital position, our diligent focus on customer service, and the strong experience of our management team," Estes said.
As privately held entities, AAT and Signal One consider the terms and conditions of their agreement proprietary.
Founded in 1950, AAT leases space on wireless communication sites to the nation's major wireless carriers. The company is currently headquartered in St. Louis, Mo., with five regional offices in Iselin, N.J.; Richmond, Va.; Milwaukee, Wisc.; Dallas, Texas; and Las Vegas, Nev.
About Charterhouse Group
Charterhouse Group, Inc. is a private equity firm with three decades of experience in building leading middle-market companies. Established in 1973, Charterhouse currently manages in excess of $1.4 billion in equity through several limited partnerships. Since its inception, Charterhouse has completed investments in over 80 platform companies with a focus in the business services, healthcare services, consumer products and industrial sectors. For more information, please visit www.charterhousegroup.com.
Contacts:
Pete Abel, 314.315.9346, pete.abel@cequel3.com
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