Capstar nabs tower firm

GW Equity said it sold South Texas Cellular Inc. to Capstar Wireless Services Inc. for an undisclosed sum. South Texas Cellular, a cellular tower maintenance and infrastructure company, maintains more than 600 cellular towers for Verizon Wireless, AT&T Mobility and Crown Castle International Inc. Capstar Wireless Services is a tower design and construction company.
“This sale delivered the best possible opportunity for South Texas Cellular,” said Terry Mackin, GW Equity’s lead managing director for the transaction. South Texas Cellular contracted with the firm last year to oversee a possible sale.
“Our client’s goal was to free his assets yet remain part of the company’s management following the acquisition. After marketing South Texas Cellular to a variety of prospective buyers, we identified a strategic buyer who could build on South Texas Cellular’s success and make the ideal offer for our client,” Mackin added.