Lovett Miller & Co. Portfolio Company, TowerCom Enterprises LLC, Completes Sale of Wireless Towers

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TowerCom Enterprises LLC has completed the sale of 65 wireless towers to SBA Communications Corporation. The transaction was TowerCom's third tower portfolio sale. TowerCom represents Lovett Miller's third successful investment exit in the tower industry.

TowerCom Enterprises LLC, a Lovett Miller & Co. portfolio company, completed the sale of 65 wireless towers to SBA Communications Corporation ("SBA") (NASDAQ: SBAC). The transaction was TowerCom's third tower portfolio sale. On a combined basis, TowerCom has developed and sold 147 towers. The aggregate sales price for all three transactions was over $66 million.

Lovett Miller & Co. was the lead investor in TowerCom. Mr. W. Radford Lovett II, Co-founder and Managing Partner of Lovett Miller & Co., served as Chairman of TowerCom since founding the company. This transaction represents Lovett Miller's third successful portfolio company exit in the tower industry. Prior successful exits include TowerCom Development, LP, a developer of wireless communications infrastructure and TowerCom, Limited, an owner and developer of broadcast communication towers.

Lovett Miller's investment in Florida-based TowerCom is representative of its strategy to provide growth capital for privately held companies in the Southeast.

About TowerCom Enterprises LLC

TowerCom is a privately held company that develops and acquires tower assets. TowerCom offers a network of newly constructed communications towers, leasing space to national and regional wireless carriers.

About Lovett Miller & Co.

Lovett Miller & Co., based in Florida, provides growth capital and shareholder liquidity for rapidly growing, privately-held companies throughout the Southeast, with a particular emphasis on Florida and Georgia. The Firm manages $175 million in committed capital and invests in a broad range of financings including (1) growth capital, (2) minority shareholder liquidity transactions, and (3) growth buyouts. Lovett Miller & Co. typically invests $5 to $15 million in equity per company, although it is willing to consider both smaller and larger equity investments.

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