TOWERCO, IN FIRST TRANSACTION, ACQUIRES 6 TOWERS IN SOUTHWEST U.S.

Monday, November 01, 2004

CARY, N.C., November 1, 2004 – TowerCo, Inc., the newly formed company focused on the development, leasing and management of wireless communication towers, today announced it has acquired six towers in Texas and Louisiana.

TowerCo began operations in August following a commitment of up to $50 million in equity financing from funds managed by Tailwind Capital Partners, LLC. The agreement to purchase these towers represents the company's first transaction. Terms of the agreement, which covers four towers in Texas and two in Louisiana, were not disclosed.

"Our mission is based on providing the highest quality service to our customers and maintaining outstanding relationships with our business partners," said TowerCo Chief Executive Officer Richard J. Byrne. "This transaction marks an important step in developing a top tier tower company, and we hope to continue to build on it."

TowerCo said Alltel Wireless would be the anchor tenant on the newly-acquired towers, and that it expected additional co-locations in the future.

 

About TowerCo, Inc

 

Based in Cary, N.C., TowerCo is engaged in the construction, development, leasing and management of communication towers. Launched in September 2004 by industry veterans Richard Byrne, Chief Executive Officer, and Scot Lloyd, Chief Operating Officer, TowerCo seeks to meet the infrastructure needs of wireless services providers and others by developing new tower sites in the U.S. TowerCo's headquarters are located at 100 Towerview Court, Cary, N.C. 27513. Telephone: 919-469-5559.

About Tailwind Capital Partners

 

Tailwind is a $1.3 billion private equity fund affiliated with Thomas Weisel Partners with a current portfolio of over 30 companies, primarily focused in the growth sectors of the economy, including healthcare, technology and business services, and media and communications. Tailwind's investment strategy includes a combination of traditional buyouts and growth equity investments. Tailwind's team of 17 dedicated investment professionals brings to bear an exceptional combination of private equity and operating experience and is headquartered in New York and San Francisco.