Berkshire Partner sells Tower Development for $461 mln

Berkshire Partners has sold Tower Development Corp to Crown Castle International Corp for about $461 million cash. Tower Development develops wireless communications infrastructure in the U.S. and Puerto Rico. Ropes & Gray, led by Taylor Hart, advised Berkshire Partners.

PRESS RELEASE

Berkshire Partners Sells Tower Development Corporation to Crown Castle
April 12, 2016 Practices: Private Equity, Tax, Real Estate Investments & Transactions, Business Restructuring, Finance, Antitrust
Ropes & Gray advised Berkshire Partners on its sale of Tower Development Corporation, a developer of wireless communications infrastructure in the U.S. and Puerto Rico, to Crown Castle International Corp. for approximately $461 million in cash. TDC owns and operates 336 towers in the U.S. and Puerto Rico with an average tenancy of approximately two tenants per tower. The transaction was announced April 8.
The Ropes & Gray team was led by private equity partner Taylor Hart and included tax partner Christopher Leich, real estate partner Richard Gordet, business & securities litigation partner Peter Welsh, finance counsel Kevin Jarboe, antitrust counsel Deidre Johnson, and private equity associate Christian Westra.