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Bankers South Provides $10 Million of Debt Capital

Bankers South Provides $10 Million of Debt Capital to  Bay Communications II

Mansfield, MA, December 20, 2013 – Bay Communications II, LLC today announced the closing of a $10 million debt facility to support the continued growth of the company’s tower development portfolio.  Based in Mansfield, MA, Bay Communications II develops, constructs and operates cell phone towers in the northeastern United States.  Bay Communications II is backed by equity partner Seaport Capital, who initially invested in the company in 2011.

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Seaport Capital Invests in Bay Communications

MANSFIELD, MA – (February 1, 2011) – Bay Communications II, LLC announced today it has completed a capital raise led by Seaport Capital. Bay Communications II was founded by Jim Riley, a tower developer with nearly two decades of experience of developing towers in the Northeast. Mr. Riley also participated in the investment. Additional terms of the investment were not disclosed.

Seaport Capital, an investment firm focused on growth and buyout opportunities, has extensive experience investing in the cellular tower industry. Bay Communications II is Seaport’s fourth tower development company investment.

 

Bay Communications II focuses on developing, owning, and operating cellular towers in the Northeastern United States. The company will build on Mr. Riley’s extensive tower development experience. Mr. Riley sold his prior tower development company, Bay Communications I, to SBA Communications at the end of 2009.

Seaport Capital Principal Bob Tamashunas said, "Jim has a successful track record of developing high quality tower sites. He has the experience, business relationships and patience needed to develop towers in the challenging Northeast geography. We believe Bay Communications II is well positioned to capture the continued demand for additional tower locations brought on by the growth in wireless carriers’ data and voice applications. We are excited that Jim decided to partner with Seaport and we look forward to helping Bay Communications II execute on its business plan. "

"I look forward to partnering with an experienced tower investor like Seaport Capital," said Jim Riley. "My partnership with Seaport will allow me to execute on my business plan of building a robust tower portfolio in the Northeast. The company has ambitious plans over the next couple of years and I am excited to partner with Seaport to achieve our shared goals."

About Seaport Capital

Seaport Capital provides capital to middle market companies in the communications, information and business services, and media sectors. Seaport works with talented management teams to create valuable companies that are leaders in their market segments. Seaport has extensive experience investing in the cellular tower industry, including investments in Tower Ventures II, Southeast Towers and Municipal Communications. Seaport’s substantial industry expertise and extensive investing experience enables it to develop winning strategies; its relationship and resources help achieve them.

 

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