CROWN CASTLE INC. acquired Tower Development Corporation for $461 million, a transaction completed in April 2016, structured as All-cash acquisition; TDC purchased from Berkshire Partners..
Tower Development Corporation operates in Towers, is based in United States and Puerto Rico. Crown Castle acquired Tower Development Corporation ("TDC"), a portfolio company of Berkshire Partners, in an all-cash transaction. TDC owned and operated a portfolio of 336 wireless communications towers across the United States and Puerto Rico with an average tenancy of roughly two tenants per tower. The deal folded these sites into Crown Castle's U.S. tower portfolio.
Added 336 towers with existing tenancy to Crown Castle's U.S. tower portfolio, extending its shared wireless infrastructure footprint.
Advisory firms were not disclosed for this transaction.