CEDAR CREST, N.M.-Specialty Teleconstructors Inc. signed letters of intent to acquire all of the capital stock of Microcell Communications of America Inc. and Ellis Tower Co. Inc. in exchange for an aggregate of 851,064 newly issued shares of Specialty common stock.
Microcell, based in Fort Lauderdale, Fla., installs, maintains and repairs radios and other electronic wireless transmission and receiving equipment. The company reported revenues of $5.8 million and net income of $2.4 million for the fiscal year ended Dec. 31.
Ellis Tower, also headquartered in Fort Lauderdale, builds and maintains wireless transmitting and receiving facilities, primarily for wireless communications services providers. It had revenues of $3.7 million and net income of $804,350 last year.
Specialty said it intends to account for the acquisitions as a pooling of interests.
Based in Cedar Crest, N.M., Specialty is dedicated to the buildout and maintenance of wireless communications transmitting and receiving facilities for wireless communications services providers.
