Florida firm buys out cell tower owner here

Global Tower Partners via its subsidiary GTP Costa Rica Holding CR, SRL and C.R. Transmission Holding Corp., consummated the closing last week under a Stock Purchase Agreement to take over Centennial Towers CR, SRL, which owns more than 250 towers currently constructed and occupied by the major wireless telecommunications operators in Costa Rica, the firm also has additional towers in various stages of permitting and construction still to be developed.

“This transaction represents a strategic decision by GTP to invest in the Costa Rican tower sector and establish ourselves as the largest provider of tower sites in Costa Rica,” said Marc C. Ganzi, chief executive officer, Global Tower Partners.

“We went through a lengthy process to find the right acquirer of this business both to maximize shareholder value and continue growing the business professionally with the major wireless operators in Costa Rica in the next few critical years” said Jonathan Bettsak, director, C.R. Transmission Holding Corp. “We chose GTP given their reputation for closing transactions quickly and fairly as well as their reputation for operational excellence among the major carriers, both in the United States and Latin America. Today, we are extremely happy with the choice we made and look forward to a great working relationship in the future with GTP to maximize customer satisfaction.”

Terms of the Transaction remain confidential between the parties. Global Towers is based in Boca Raton, Florida.

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