ATLANTA & NEW YORK – (COMMERCIAL THREAD) –Municipal communications (“Municipal”) and Port capital (“Seaport”) announced the sale of a portfolio of tower assets to Fengate Asset Management. Fengate is a leading alternative investment manager focused on infrastructure, private equity and real estate strategies in North America.
“The municipal team is proud of the portfolio of towers we have built over the past three years and wishes Fengate success with the portfolio. I also appreciate our partnership with Seaport over the past decade and look forward to leading the development of another robust tower portfolio with municipal and port teams in the years to come, ”said Peter Corry.
Municipal Communications will continue to own, operate and develop wireless communications towers. Municipal and Seaport Capital will continue their ten-year partnership to develop another portfolio of tower assets for major wireless service providers.
Bob Tamashunas, Partner at Seaport Capital, said, “We are proud of our long term relationship with Peter Corry and the municipal team. Peter and his team have developed a diverse portfolio of tower assets, anchored by the Big Three wireless service providers, over the past three years. We wish Fengate success with the portfolio. We look forward to partnering with Municipal to create another excellent portfolio of tower assets.
Houlihan Lokey served as Municipal and Seaport’s financial advisor and helped structure and negotiate the transaction on its behalf.
About municipal communications
Municipal communications is an Atlanta, GA-based communications infrastructure provider that develops, owns and operates cellular wireless assets across the United States. The Company’s tower portfolio primarily covers the Northeast, Southeast, Southwest and Midwest. For more information visit www.municipalcom.com.
About Seaport Capital
Founded in 1997, Port capital is a lower middle market buyout company that invests in communications infrastructure and services, business and information services, and media companies (the “Target Sectors”). Seaport typically invests between $ 10 million and $ 30 million of equity in companies generating EBITDA between $ 3 million and $ 15 million, with the goal of maximizing return on investment. Seaport is currently investing in Seaport Capital Partners VI, a 2020 vintage fund.
Seaport’s substantial industrial expertise and investment experience allow it to develop successful strategies; his connections and his team help achieve them. Almost all of Seaport’s platform investments have been held by founders or entrepreneurs looking for a collaborative institutional partner to provide the financial and operational resources necessary to grow their business and execute a successful strategic plan.
For more information visit https://www.seaportcapital.com.
About Houlihan Lokey
Houlihan Lokey (NYSE: HLI) is a global investment bank specializing in mergers and acquisitions, capital markets, financial restructuring and valuation. The firm serves businesses, institutions and governments around the world with offices in the United States, Europe, the Middle East and the Asia-Pacific region. Independent advice and intellectual rigor are hallmarks of the firm’s commitment to the success of its clients in all of its consulting services. Houlihan Lokey has been the senior M&A advisor for six consecutive years in the United States, the world’s leading restructuring advisor for the past seven years, and the world’s leading M&A opinion advisor for the past seven years. Last 20 years, all based on the number of transactions and according to data provided by Refinitiv.