Grain Management Acquires 85 Towers from NTELOS Holdings Corp.

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Feb 18, 2015, 05:41 ET

SARASOTA, Fla., Feb. 18, 2015 /PRNewswire/ -- Grain Management, LLC ("Grain") is pleased to announce that it has closed on the first installment of a tower acquisition from NTELOS Holdings Corp. ("NTELOS" -NASDAQ: NTLS). The acquisition, which closed into one of Grain's two flagship funds, consisted of 85 towers with nearly $2.2 million of cash flow. "This acquisition fits well with Grain's strategy of acquiring underutilized sites and creating additional value over time," said David J. Grain, Founder and Managing Partner of Grain. "And the geographic concentration of the NTELOS sites provides the type of growth opportunity that we find attractive." Grain will acquire up to an additional 18 towers from NTELOS during 2015.

About Grain Management, LLC

Grain Management, LLC is a private equity firm focused on investments in the media and communications sectors. With offices in Sarasota, FL and Washington, DC, the firm manages funds for a number of the country's leading academic institutions, endowments and public pension funds. Grain Management also builds, owns and operates wireless infrastructure assets across North America. For more information, please visit http://www.graingp.com.

SOURCE Grain Management, LLC