SARASOTA, Fla.-Pinnacle Towers Inc. said it purchased 20 towers in Fort Smith and Little Rock, Ark., for $8.7 million from the Texas-based paging company, Teletouch Communications.
This acquisition brings Pinnacle’s inventory to about 350 towers and rooftop antenna sites, including 12 towers in Maryland it purchased in January.
Pinnacle Towers is backed by Boston-based ABRY Partners and said it has more than $250 million in purchasing power to consolidate the communications tower business.
Pinnacle acquired and developed 45 towers in the fourth quarter of 1997, and has completed about 140 tower and site acquisitions since its formation in May 1995.
