NEW YORK-Affiliates of The Blackstone Group have purchased a major equity interest in Global Tower Partners from Great Hill Partners, said the company. The value of the deal was not disclosed.
GTP owns and operates more than 642 wireless towers and 1,800 rooftop antenna facilities in the United States. The company recently announced an agreement to buy 563 wireless towers from Dobson Communications.
According to GTP, Blackstone plans to use the company as a platform to make further investments, up to several hundred million dollars, to acquire wireless communications tower assets.
