TowerCo Announces Sale of Towers and Assets to Florida­-Based Grain Communications

Thursday, May 12, 2016

Cary, NC, May 12, 2016—Company officials at TowerCo announced today the sale of 253 towers and 95 other assets to Grain Infrastructure II, L.P. of Sarasota, Fla. for $244M. The sale marks the third portfolio of towers and assets sold by TowerCo since 2004.

"We are pleased with the outcome of this transaction and look forward to the continued growth of TowerCo IV, which is off to a very good start,” said Richard Byrne, chief executive officer of TowerCo. “I would like to thank our equity investors, Tailwind Capital and Soros Fund Management, who have agreed to back us for a fourth time. Without them and the dedicated team of people at TowerCo, our success over the past 12 years would not have been possible.”

Wells Fargo Securities, LLC served as primary advisor for the sale with the assistance of SteelTree Partners.

Bruce Gutenplan of Paul, Weiss, Rifkind, Wharton & Garrison LLP was counsel to TowerCo on the transaction.

About TowerCo LLC

TowerCo was founded in 2004 by Tailwind Capital along with industry veterans Richard Byrne, Chief Executive Officer, and Scot Lloyd, Chief Operating Officer, to meet the infrastructure needs of wireless service providers by developing, owning and leasing communication towers. Soros Strategic Partners invested in TowerCo in 2005.

About Tailwind Capital

Tailwind Capital is a leading private equity firm focused on growth-oriented investments of the middle market in targeted sectors within the healthcare, industrial and business services industries in North America. Tailwind partners with experienced management teams and entrepreneurs to transform businesses through organic growth initiatives, acquisitions, and operational and strategic improvements. Since inception, Tailwind has managed over $2.0 billion of capital commitments. Tailwind has invested $1.5 billion in 33 portfolio companies, and including those companies, has completed 80 acquisitions.

About Soros Strategic Partners LP

Soros Strategic Partners LP (“SSP”) is a private investment vehicle that pursues investments globally in a variety of industries across strategies, including buyouts growth equity transactions and structured investments. SSP seeks to acquire and build businesses in partnership with experienced management teams and seeks to invest in securities and assets that provide attractive risk adjusted returns. The investment advisor to SSP is Soros Fund Management LLC, a private investment management firm that serves as the principal investment advisor to a number of private investment funds which are managed exclusively for Soros family clients.