CiG Wireless Acquires Communications Towers and Related Assets in Texas
Published on: 13th Sep 2012
Note -- this news article is more than a year old.
CiG Wireless, an independent owner and operator of wireless communications infrastructure in the United States, has acquired certain communications towers and related assets and rights from Towers of Texas, a privately held company.
CiG has paid an aggregate purchase price of $3.55 million in cash for all of the tower sites acquired.
"We are pleased to announce the company's first acquisition, a significant milestone that follows the recent completion of our new credit facility," said Paul McGinn, CiG's President and CEO. "This acquisition includes existing towers, representing assets that bring both existing cash flow and significant growth potential to CiG. As we execute to plan, we will look to supplement our ongoing organic growth with a strong focus on acquisitions through the remainder of the calendar year."
The acquisition closed on September 7, 2012, in conjunction with the Company's newly signed USD150 million credit facility with Macquarie Bank.