M&A Deal Summary

Crown Castle Acquires Global Signal

On January 12, 2007, Crown Castle acquired real estate company Global Signal from GCP Capital Partners and Fortress for 5.8B USD

Acquisition Highlights
  • This is Crown Castle’s 1st transaction in the Real Estate sector.
  • This is Crown Castle’s 2nd largest (disclosed) transaction.
  • This is Crown Castle’s 2nd transaction in the United States.
  • This is Crown Castle’s 1st transaction in Florida.

M&A Deal Summary

Date 2007-01-12
Target Global Signal
Sector Real Estate
Buyer(s) Crown Castle
Sellers(s) GCP Capital Partners
Fortress
Deal Type Add-on Acquisition
Deal Value 5.8B USD
Advisor(s) Goldman Sachs
BofA Securities (Financial)
Skadden, Arps, Slate, Meagher & Flom (Legal)

Target

Global Signal

Sarasota, Florida, United States
Global Signal owned, operated, and leased towers and other communication structures for wireless communications. Global Signal was formed in 1995 and based in Sarasota, Florida.

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Buyer(S) 1

Buyer

Crown Castle

Houston, Texas, United States

Category Company
Sector Communications
Employees4,700
Revenue 7.0B USD (2023)
DESCRIPTION
Entrance to Crown Castle's corporate headquarters in Houston, Texas.
Entrance to Crown Castle's corporate headquarters in Houston, Texas.

Crown Castle operates and leases shared wireless infrastructure, distributed antenna systems, and interests in land under third party towers. The Company's core business is providing access, including space or capacity, to towers, and to a lesser extent, to small cells and third party land interests via long-term contracts, including license, sublease and lease agreements. Crown Castle is based in Houston, Texas.


DEAL STATS #
Overall 2 of 9
Sector (Real Estate) 1 of 1
Type (Add-on Acquisition) 2 of 8
State (Florida) 1 of 2
Country (United States) 2 of 9
Year (2007) 1 of 1
Size (of disclosed) 2 of 9
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-05-08 Mountain Union Telecom

Alexandria, Virginia, United States

Mountain Union Telecom LLC, a telecommunications infrastructure business by owning, operating, developing and managing tower sites for the wireless telecommunications industry.

Buy $309M
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2010-09-08 NewPath Networks

Seattle, Washington, United States

NewPath Networks is a wireless infrastructure company that designs, develops and operates fiber-fed wireless carrier networks using a distributed antenna architecture to improve signal strength and network capacity.

Buy $115M

Seller(S) 2

SELLER

GCP Capital Partners

New York, New York, United States

Investor Investor Investor Investor Investor


Category Merchant Bank
Founded 2000
PE ASSETS 1.2B USD
Size Large
Type Sector Agnostic
DESCRIPTION

GCP Capital Partners consists of GCP US, GCP Europe, and GCP Venture. GCP US targets North American acquisitions. The unit looks to invest $10 to $50 million in businesses valued up to $500 million. GCP Europe targets businesses in the UK and Europe. The European team looks to invest up to £40 million in companies valued up to £100 million. Sectors of interest include business services, education, energy, financial services, insurance and telecommunications.


DEAL STATS #
Overall 9 of 24
Sector (Real Estate) 1 of 1
Type (Add-on Acquisition) 4 of 10
State (Florida) 1 of 2
Country (United States) 9 of 22
Year (2007) 2 of 3
Size (of disclosed) 1 of 5
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2007-01-01 Peregrine Oil & Gas I

Houston, Texas, United States

Peregrine is a Houston Texas based independent oil and gas acquisition and development company formed for the purpose of pursuing a growth strategy concentrated on the acquisition and further development of under-managed and under-exploited oil and gas properties located principally in the offshore Gulf of Mexico region.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-05-28 Transfast

New York, New York, United States

Transfast is a provider of cross-border payments solutions to consumers and businesses around the world. The Company operates a multi-product, best-in-class payments network capable of processing payments across 120 countries and offering more than 1,000 currency pairs. Transfast was founded in 1988 and is based in New York.

Buy -
SELLER

Fortress

New York, New York, United States

Category Asset Manager
Founded 1998
PE ASSETS 44.2B USD
Size Mega
Type Sector Agnostic
DESCRIPTION

Fortress is a public investment firm that manages hedge fund, credit, and private equity investments. Fortress' private equity practice primarily makes control-oriented investments in North American and Western European businesses with significant asset-bases and strong cash-flows. Fortress is open to investing in a wide range of sectors, however the Firm has tended towards capital intensive sectors. These include transportation, financials, senior living/healthcare, real estate, media & telecommunications, leisure and energy infrastructure. The pivate equity group also invests in publicly traded alternative investment vehicles, which Fortress refers to as 'castles' that primarily invest in real estate and real estate related debt. Fortress was formed in 1998 and is based in New York City.


DEAL STATS #
Overall 5 of 25
Sector (Real Estate) 2 of 2
Type (Add-on Acquisition) 2 of 9
State (Florida) 1 of 2
Country (United States) 3 of 18
Year (2007) 1 of 4
Size (of disclosed) 1 of 4
PREVIOUS DEAL
DATE TARGET DEAL TYPE VALUE
2006-10-19 GAGFAH S.A.

Grand Duchy of Luxembourg, Luxembourg

GAGFAH is a realty company with core business is the ownership and management of a geographically diversified apartment portfolio acquired from the German Government and other long term owners.

Sell -
FOLLOWING DEAL
DATE TARGET DEAL TYPE VALUE
2007-02-01 Holiday Retirement

Winter Park, Florida, United States

Holiday Retirement is the largest private owner and operator of independent living communities for seniors in the United States. Holiday Retirement was founded in 1971 and is based in Winter Park, Florida.

Buy $6.9B