Private-equity firm Charterhouse Group Inc. said Friday it has agreed to sell NewPath Networks Inc., which builds and runs small-scale wireless networks, to cell tower owner Crown Castle International Corp. for $115 million.
Charterhouse led a $47 million investment round in NewPath in 2009. Venture capital firms Meritage Funds and Sweetwater Capital also participated.
The sale is expected to close in two months.
NewPath is based in Seattle. Houston-based Crown Castle owns, operates and leases more than 22,000 cell towers.
Separately, Crown Castle said it priced $1.55 billion of senior notes that will be issued by some of its indirect subsidiaries in a private transaction. Crown Castle intends to use the net proceeds to fully repay other 2006 notes.
The company's Class C-2015 Notes consist of $250 million of 3.214 percent notes, its Class C-2017 notes include $300 million of 4.174 percent notes and Class C-2020 Notes consist of $1.0 billion of 4.883 percent notes.
The offering is scheduled to close on Aug. 16.
Crown Castle shares rose 13 cents to $39.32 in midday trading.