Wednesday, September 11, 2013

Acquiring GTP Isn’t The End of The Road For American Tower

After American Tower announced their acquisition of Global Tower Partners (GTP), they made it clear that they are still on the lookout for more purchases. "This is a significant strategic milestone for American Tower," Chairman and CEO Jim Taiclet said regarding M&A, "but it’s definitely not the end of the road."
By acquiring GTP, American Tower will add 5,400 domestic towers to their portfolio. Below you’ll find an overview of the GTP Portfolio.:

GTP Tower Portfolio

1/3rd of sites in Top 50 BTA’s
2/3rd of sites in Top 100 BTA’s
Average tenancy of ~2.0 per site
63% of total revenue from sites on land that is owned or on long-term leases with 20+ years remaining

GTP Financial Highlights

2014E Revenue of $345m
2014E Gross Margin of $270m (78% of revenue)

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