Boston, MA and Boca Raton, FL - October 31, 2003 - Great Hill Partners, LLC announced today the formation of Global Tower Management, LLC (d/b/a Global Tower Partners), which has been formed in partnership with Marc C. Ganzi to acquire and operate communications towers and related wireless infrastructure. To enable Global Tower Partners to execute on its business strategy, Great Hill Partners and Marc Ganzi have committed over $40 million to the partnership.
Global Tower Partners currently owns and manages approximately 3,000 wireless towers and master leased rooftop communications sites. The company's growth plan is predicated on actively pursuing additional strategic tower acquisitions, construction of new tower facilities and leasing up the existing portfolio of sites. The management team is led by Marc Ganzi, who is the Chief Executive Officer of Global Tower Partners.
"Great Hill Partners has a long history in the communications and wireless industries, and it was clear that they had a deep knowledge and understanding of the dynamics in the tower sector," said Marc Ganzi. "In creating this platform, we share a vision on how to create strategic value in this sector, and I look forward to their insight as we execute on our business plan."
John Hayes, Founder and Managing Partner of Great Hill Partners, added, "Global Tower Partners is well-positioned to capitalize on the market opportunity in the communications tower sector, which we believe to be an important component of current and future telecommunications infrastructure. Given their wealth of industry expertise, we are extremely pleased to be partnering with Marc and his management team."
As part of the transaction, John Hayes and Gene Yoon will join Marc Ganzi on Global Tower Partners' Board of Directors.
About Global Tower Partners
Global Tower Partners is a leading owner and manager of wireless communications facilities throughout the United States. The Company currently owns and manages approximately 3,000 wireless towers and master leased rooftop communications sites nationwide. Headquartered in Boca Raton, Florida, the Company maintains additional offices in Philadelphia and New York. More information on Global Tower Partners and its owned and managed sites can be obtained at www.global-towers.com.
About Great Hill Partners
Great Hill Partners is a private equity firm that manages over $1 billion in capital and focuses on investing in companies in education, business services, media, information, IT, and communications sectors. Great Hill Partners is currently investing its $460 million fund, Great Hill Equity Partners II, L.P., and is targeting investments of $10 million to $50 million. For more information, please visit www.greathillpartners.com.
