CARY, N.C.-SpectraSite Holdings Inc. reported two acquisitions and one development agreement as the company expands its outsourced antenna site and network services.
The joint development agreement with Transco, the arm of the BG Group plc that runs Britain’s gas network, involves developing a tower business to support Europe’s mobile communications industry as it upgrades to third-generation technology.
The acquisitions involve Ample Design Ltd., a United Kingdom-based wireless network development services provider, and Lodestar Towers Inc., a wholly owned subsidiary of LeBlanc & Royal Enterprises Inc. The deals are valued at $19 million and $170 million respectively.
Ample will be incorporated into the agreement with Transco providing network development services to future clients of the joint development venture.
Lodestar currently owns and operates 90 wireless towers and 10 broadcast towers and has 149 towers under management.
The company also has entered into a 30-year contract with the Florida Department of Transportation under which it has exclusive rights to develop tower sites along 2,200 miles of FDOT rights of way.
“Lodestar’s wireless towers strengthen SpectraSite’s existing portfolio of approximately 3,000 towers and 12,700 rooftops with a high concentration in the top 100 markets,” commented Timothy Biltz, chief operating officer of SpectraSite. “With a total of 478 towers, Lodestar will add significant revenues and cash flow with tremendous growth rates, making this transaction both strategically and financially attractive.”
