Charys Finalizes Acquisition of Complete Tower Sources Inc.
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BusinessWire
09:31 a.m. 02/27/2007
ATLANTA, Feb 27, 2007 (BUSINESS WIRE) -- Charys Holding Company, Inc. ("Charys") (CHYS), a leader in remediation and reconstruction, and in wireless communications and data infrastructure, announced today that it has finalized its acquisition of Complete Tower Sources Inc. ("CTSI"), an acquisition that was first announced on June 20, 2006. The purchase price was $77.4 million in cash and stock. CTSI, located in Lafayette, Louisiana, is the largest component of Charys' wireless communications and data infrastructure segment. With operating revenues of over $41 million, it has 75 employees, and will be headed by Carrol Castille, President.
Charys Chairman & CEO Billy V Ray, Jr, commented, "The purchase of CTSI, with the addition of Carrol Castille, will be very important to our plans because it will enable us to centralize a significant portion of our wireless communications and data infrastructure business. Carrol will lead our integration efforts and head this line of business as a key member of our executive team. We believe that this integration will lower our costs and increase our top line revenue. The entire CTSI team is a strong addition to the Charys family."
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